Home / Knowledge / News / Textiles / Suominen BoD receives 40% of remuneration in shares
Suominen BoD receives 40% of remuneration in shares
12
Sep '13
The Annual General Meeting on Shareholders of Suominen Corporation held on 26 March 2013 resolved on the following annual remuneration payable for the year 2013 to the Members of the Board of Directors: Chairman 50,000 euro, Deputy Chairman 37,500 euro and Member 28,000 euro and that 40% of the annual remuneration shall be paid in shares of Suominen Corporation.
 
The portion of the remuneration to be paid in shares has been delivered on 11 September 2013, by transferring own shares held by Suominen Corporation without consideration.
 
The Board of Directors of Suominen Corporation has resolved on the delivery of the shares based on the share issue authorization granted by the Annual General Meeting of Shareholders held on 26 March 2013. The shares to be transferred are of the same class as the company’s other shares.
 
The number of shares formed by the above remuneration portion which is payable in shares has been determined based on the share value in the stock exchange trading maintained by NASDAQ OMX Helsinki Oy as follows: 
 
The share value has been determined based on the trade volume weighted average quotation of the share during the trading day immediately preceding the above mentioned day on which the shares were delivered. Based on the above the annual remuneration payable to the Members of the Board of Directors in shares for the year 2013 is 135,931 shares in the aggregate.
 
The company held 2,060,298 own shares before the above transfer of shares. The aggregate number of shares transferred to the members of the Board of Directors was 135,931 shares. After the share transfer, the company holds 1,924,367 own shares.
 

Suominen Corporation

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