Betolar Plc’s Shareholders’ Nomination Committee’s proposals to the General Meeting 2025

Betolar Plc

Company Release 

20 January 2025 at 1:45 P.M. EET

Betolar Plc’s Shareholders’ Nomination Committee’s proposals to the General Meeting 2025

Betolar Plc’s (“Betolar”) Annual General Meeting is planned to be held on Thursday 27 March 2025. Betolar’s Shareholders’ Nomination Committee has resolved to make the following proposals to the Annual General Meeting:

Number of members of the Board of Directors

The Shareholders’ Nomination Committee proposes to the Annual General Meeting that the number of the members of the Board of Directors would be six (6) (7 members in 2024).

Election of the members of the Board of Directors

The Shareholders’ Nomination Committee proposes to the Annual General Meeting that Anders Dahlblom, Kalle Härkki, Soile Kankaanpää, Juha Leppänen and Inka Mero be re-elected as members of the Board of Directors and Jan-Elof Cavander as a new member.

The current Chairman of the Board, Ilkka Salonen, and the Deputy Chairman, Tero Ojanperä, have announced that they are no longer available for selection as members of the Board of Directors.

Candidate Jan-Elof Cavander, Master of Science in Technology (Industrial Engineering and Management), will serve as COO (Chief Operating Officer) of Virala Oy Ab starting from the second quarter this year. Prior to this, he has been the Chief Financial Officer of Purmo Group Plc as of 2023. Earlier, he was the CFO of Rapala VMC Corporation since 2017. Cavander has extensive experience of various positions in finance, including SVP — Treasury and Finance, Corporate Planning & IT and was employed by Rapala since 2010.

The Shareholders’ Nomination Committee proposes to the Board of Directors that it elects Anders Dahlblom as Chairman of the Board of Directors.

All the proposed Board Members are considered to be independent of the Company and its significant shareholders, except for Juha Leppänen who is not independent of the Company and is the Company’s major shareholder and Jan-Elof Cavander as well as Anders Dahlblom who are not independent of the Company’s major shareholder.

The term of the members of the Board of Directors ends at the close of the Annual General Meeting in 2026.

With regard to the selection procedure for the members of the Board of Directors, the Shareholders' Nomination Committee recommends that shareholders take a position on the proposal as a whole at the General Meeting. This recommendation is based on the fact that at Betolar, the Shareholders' Nomination Board is separate from the Board of Directors. The Shareholders’ Nomination Board, in addition to ensuring that individual nominees for membership of the Board of Directors possess the required competences, is also responsible for making sure that the proposed Board of Directors as a whole also has the best possible expertise and experience for the Company.

The Remuneration of the members of the Board of Directors

The Shareholder’s Nomination Committee proposes to the Annual General Meeting that the remuneration payable to the members of the Board of Directors remain unchanged, and the remuneration be paid for the next term, as follows:

• The Chairman of the Board of Directors EUR 3 500 per month and the Deputy Chairman (if any) EUR 2 700 per month; and
• Other members of the Board of Directors EUR 1 900 per month.

In addition, it is proposed to pay the following fees to the members of the committees founded by the Board of Directors:

• The Chairman of the committee EUR 600 per meeting; and
• Other members of the committee EUR 300 per meeting.

It is further proposed that the travel expenses of the members of the Board of Directors be reimbursed in accordance with the maximum amount of the respective travel allowance base approved by the Tax Administration.

The Shareholders’ Nomination Committee made all resolutions unanimously.

As Chairman of the Shareholders’ Nomination Committee has acted Alexander Ehrnrooth (Nidoco AB), Juha Leppänen, Olli-Pekka Kallasvuo (Ajanta Innovations Oy) and Annika Ekman (Ilmarinen Mutual Pention Insurance Company). In addition, Ilkka Salonen, Chairperson of the Board of Betolar is an expert member of the Nomination Board.

More information

Alexander Ehrnrooth, Chairman of Betolar Plc’s Shareholders’ Nomination Committee

Certified Adviser:

Aktia Alexander Corporate Finance Oy, +358 50 520 4098

About Betolar

Betolar Plc is a pioneering Finnish materials technology company driving the green transition in mining and construction. Betolar’s mission is to help reduce CO₂ emissions and the use of virgin natural resources.

Betolar develops low-carbon and waste-free solutions for the mining and metals industries, and its Geoprime® solution produces i.a. the world's lowest-emission hollow-core slabs. Betolar’s AI-powered Data Platform turns industrial side streams into value, accelerates solution development and builds global markets for side streams.

Betolar was founded in 2016 and is domiciled in Kannonkoski, Finland. Betolar is listed on the Nasdaq First North Growth Market. For more information, visit www.betolar.com

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