ENEDO PLC  Stock Exchange Release   3.3.2020   at 9:30 a.m.


Proposal of Enedo Plc’s Shareholders' Nomination Board to the following Annual General Meeting

The Shareholders' Nomination Board of Enedo Plc has prepared proposals on the composition of the Board of Directors and the remuneration of the Board of Directors to the Annual General Meeting to be held on 24 April 2020.

Number of Board members and composition of the Board of Directors

The Nomination Board proposes to the Annual General Meeting that five (5) members be elected to the Board of Directors.

The Nomination Board proposes that Tuomo Lähdesmäki, Matti Miettunen, Taru Narvanmaa and Antti Sivula be re-elected as members of the Board of Directors and Michael Peters be elected as a new member of the Board of Directors for a term starting at the end the Annual General Meeting and expiring at the closing of the 2021 Annual General Meeting.

The CV of Michael Peters is attached to this release.

According to the company’s Articles of Association, the Board of Director elects a Chairman from among its members. The Nomination Board recommends that Tuomo Lähdesmäki continue as the Chairman of the Board of Directors and that Taru Narvanmaa continue as the Vice Chairman of the Board of Directors.

All Board member candidates have given their consent for election. All Board member candidates are considered to be independent of the company and its major shareholders.

The candidate information relevant for serving in the Board of Directors is presented at the company website www.enedopower.com. 

Board remuneration

The Nomination Board proposes that the fees remain unchanged and accordingly that the following monthly fees be paid to the members of the Board of Directors for the term beginning at the end of the Annual General Meeting and ending at the end of the 2021 Annual General Meeting:

• Chairman of the Board of Directors EUR 3,750 per month;
• other members of the Board of Directors EUR 2,000 euro per month; and
• in addition, to the Board member functioning as Chairman of the Audit Committee, the same additional remuneration as in the previous term, i.e. EUR 750 per month.

The Nomination Board proposes that travel expenses are payable against receipt.

The proposals of the Nomination Board will be included in the notice to the Annual General Meeting.

ENEDO PLC

Vesa Leino
CEO

For further information please contact the Chairman of the Nomination Board, Mr. Jarkko Takanen, tel. +358 40 554 5500.

DISTRIBUTION

Nasdaq Helsinki Oy
Principal media

Enedo Group

Enedo is a European designer and producer of high quality electronic power supplies and systems for critical equipment even in the most demanding environments. Our job is to make electricity better – more reliable, more secure, more energy efficient – and just right to fit its purpose. Enedo has three main product categories: LED Drivers, Power Supplies and Power Systems. In financial year 2019 Enedo Group’s revenue was € 43.3 million. Enedo has 388 employees and main operations in Finland, Italy, Tunis and USA. Enedo Group headquarter is located in Finland and parent company Enedo Oyj is a listed company in Nasdaq Helsinki.
www.enedopower.com

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