RESOLUTIONS OF THE ANNUAL GENERAL MEETING AND ORGANIZATION OF THE BOARD OF EFORE PLC

RESOLUTIONS OF THE ANNUAL GENERAL MEETING AND ORGANIZATION OF THE BOARD OF EFORE PLC

Stock Exchange Release   11 April 2019       at 13.25 p.m.

The Annual General Meeting of Efore Plc was held on 11 April 2019 in Espoo. The Annual General Meeting adopted the financial statements of Efore Group and Efore Plc for the financial year 1 January 2018 - 31 December 2018 and discharged the Board of Directors and the CEO from liability for their actions in the past financial year.

DIVIDEND

The Annual General Meeting approved the proposal of the Board of Directors not to distribute any dividend for the financial period that ended on 31 December 2018.

BOARD OF DIRECTORS

The Annual General Meeting resolved on the proposal of the Shareholders’ Nomination Board that the monthly remuneration paid to the members of the Board of Directors are as follows:

Chairman of the Board of Directors            3,750 euro per month
Other members of the Board of Directors       2,000 euro per month
Chairman of the Audit Committee             750 euro per month

Travel expenses are payable against receipt.

In accordance with the proposal of Shareholders’ Nomination Board, the Annual General Meeting set the number of the members of the Board of Directors at four. Tuomo Lähdesmäki, Matti Miettunen, Taru Narvanmaa and Antti Sivula were re-elected as members of the Board of Directors for a period ending at the end of the Annual General Meeting 2020.

AUDITOR

Authorized Public Accountants KPMG Oy Ab was re-elected as the company's auditor. KPMG Oy Ab has informed that Authorized Public Accountant Henrik Holmbom will act as the responsible auditor. The elected auditor shall be reimbursed according to the reasonable invoice of the auditor.

AUTHORIZING THE BOARD OF DIRECTORS TO DECIDE ON THE ISSUE OF SHARES AS WELL AS
THE ISSUE OF OPTIONS AND OTHER SPECIAL RIGHTS ENTITLING TO SHARES

The Annual General Meeting resolved on the proposal of the Board of Directors to authorize the Board of Directors to, in one or more transactions, decide on the issuance of shares and the issuance of options and other special rights entitling to shares referred to in chapter 10 section 1 of the Companies Act as follows:

The number of shares to be issued based on the authorization may in total amount to a maximum of 84,320,000 shares, corresponding to approximately 20.0 % of all the shares in the company.

The Board of Directors decides on all the terms and conditions of the issuances of shares, options and other special rights entitling to shares. The authorization concerns both the issuance of new shares as well as the transfer of treasury shares. The issuance of shares and special rights entitling to shares may be carried out in deviation from the shareholders' pre-emptive rights (directed issue).

The authorization cancels the authorization given by the Annual General Meeting on 12 April 2018 to decide on the issuance of shares and special rights entitling to shares.

The authorization is valid until the close of the following Annual General Meeting, however, no longer than until 30 June 2020.

ORGANIZATION OF THE BOARD

In its first meeting held after the Annual General Meeting, the Board of Directors re-elected Tuomo Lähdesmäki as Chairman of the Board of Directors and elected Taru Narvanmaa as Vice Chairman.

The Board of Directors resolved to establish a separate Audit Committee and elected Taru Narvanmaa as Chairman and Tuomo Lähdesmäki, Matti Miettunen and Antti Sivula as members of the audit committee.

The Board of Directors has evaluated the independence of the Board members in compliance with the recommendations of the Finnish Corporate Governance Code 2015. It is the view of the Board of Directors that all Board members are independent of the company and of its significant shareholders.

EFORE PLC

BOARD OF DIRECTORS

For further information please contact Mr.Vesa Leino, CEO, tel. +358 40 759 8956.

DISTRIBUTION

Nasdaq Helsinki Ltd
Principal media

Efore-group

Efore is an international Group which develops and produces demanding power products. Efore's head office is based in Finland and its sales, marketing and R&D functions are located in Europe and China. The Group also has a sales and marketing unit in the United States. In the financial year ended on December 2018, consolidated net sales totalled EUR  52.4 million and the Group's personnel averaged 406. The parent company's share is quoted on the Nasdaq Helsinki Ltd.www.efore.com