Marimekko Corporation, Stock Exchange Release, January 31, 2023 at 11:00 am
Shareholder proposals to the Annual General Meeting regarding the number of Marimekko board members, the composition of the board and their remuneration
Shareholders representing approximately 27% of Marimekko Corporation’s total shares and voting rights will vote at the Annual General Meeting of Shareholders on April 13, 2023 to determine the number of members of the Board of Directors, the composition of the Board of Directors, and the composition of the Board of Directors. proposed about Reward.
Proposal for the number of directors
Shareholders representing approximately 27% of Marimekko Corporation’s total shares and voting rights have informed the company that they have proposed to elect six directors at their annual shareholders’ meeting.
Board composition proposal
The above shareholders have asked the company to propose that Carol Cheng, Mika Ihamuotira, Mikko Heikki Inkeroinen, Tame Kangas Kalki, Tomoki Takebayashi and Marianne Vikula be re-elected to the Board until the next adjournment. I notified you. Annual meeting.
Carol Chen, Mikko-Heikki Inkeroinen, Teemu Kangas-Kärki, Tomoki Takebayashi and Marianne Vikkula are independent of the company and its significant shareholders according to the above shareholder assessments. Mika Ihamuotila holds an indirect stake in the company through PowerBank Ventures Ltd, representing his 12.5% of the company’s stock and voting rights, and is therefore not independent of the company or its significant shareholders.
The proposed Board members intend to elect Mika Ihamuotila as Chairman of the Board, Teemu Kangas-Kärki as Vice Chairman of the Board, Teemu Kangas-Kärki as Chairman and Mikko if they are elected. I notified the company that there was something. -Heikki Inkeroinen and Marianne Vikkula as members of the Audit and Compensation Committee.
All candidates agreed to the election. Biography details of the proposed board member can be found on the company’s website, company.marimekko.com, under his Investors / Management / Board of Directors.
Board remuneration proposal
In addition, the above shareholders have notified the Company of their proposals to the Annual General Meeting of Shareholders based on the proposals of the Audit and Compensation Committee, which consists of members independent of the Company and its significant shareholders. The members and chairman of the board he will remain unchanged from 2022 will be: The Chair will receive an annual fee of €48,000 for him, the Vice-Chair for her €35,000 and the other Board members her €26,000. In addition, persons elected to the committee will be paid other compensation for their work on the committee, as follows: €2,000 per meeting for the Chair, €1,000 per meeting for members. Commission fees are unchanged from 2022.
The above shareholders also propose to pay approximately 40% of their annual compensation in market-acquired shares of Marimekko Corporation, with the remainder in cash. The shares will be acquired directly on behalf of the members of the Board of Directors within two weeks of the release of the interim report from January 1 to March 31, 2023, or as soon as possible thereafter pursuant to applicable law. Annual remuneration can be paid in full cash if the director on the date of the Annual General Meeting of April 13, 2023 he holds shares in the company worth more than €1,000,000.
The above proposals will be included in a separate Annual Meeting notice.
Further information:
Mika Ihamuotira, Chairman, Telephone. +358 9 758 71
Marimekko Co., Ltd.
Corporate communication
Anna Tuominen
Phone +358 40 584 6944
anna.tuominen@marimekko.com
distribution:
Nasdaq Helsinki Ltd.
main media
About Marimekko
Marimekko is a Finnish lifestyle design company known for its original prints and colors. The company’s product portfolio includes high-quality clothing, bags and accessories, as well as upholstery from textiles to tableware. When Marimekko was founded in 1951, its unparalleled printed fabrics gave Marimekko a strong and unique identity. The company’s net sales in 2021 amounted to his €152 million, and worldwide brand sales of products he reached €376 million. There are approximately 150 Marimekko stores in the world, and online stores serve his customers in 35 countries. The main markets are Northern Europe, Asia Pacific and North America. The Group employs about 410 people. The company’s shares are listed on the Nasdaq Helsinki. marimekko.com
