Proposals of the Shareholders’ Nomination Board of Detection Technology Plc to the Annual General Meeting 2020

Detection Technology Plc company announcement 31 January 2020 at 10:00 (EET)

Proposals of the Shareholders’ Nomination Board of Detection Technology Plc to the Annual General Meeting 2020

Proposal on the number of the members, on the composition, and on the Chair of the Board of Directors

The Shareholders’ Nomination Board of Detection Technology Plc (Nomination Board) proposes to the Annual General Meeting that the number of members of the Board of Directors remains unchanged and would be seven (7).

The Nomination Board proposes that Heikki Allonen, Carina Andersson, Vera Backström, Pasi Koota, Henrik Roos and Hannu Syrjälä would be re-elected members of the Board of Directors.

Out of the current members of the Board of Directors, Petri Niemi has informed that he is not available for re-election to the Board of Directors.

The Nomination Board proposes that Richard Ingram would be elected new member of the Board of Directors.

Richard Ingram (born 1963, B.Sc. Engineering, MBA) currently works as Managing Director, Operations at Brookfield Asset Management and prior to that has held several international management positions in the security, aerospace and automotive industries, including President of Smiths Detection at the Smiths Group. He is the citizen of the United Kingdom.

All candidates have given their consent to the position. All candidates are independent of the company. The candidates are also independent of Detection Technology Plc’s significant shareholders, with the exception of Pasi Koota, who acts currently as CFO at Ahlström Capital Oy, and Vera Backström, who is a Member of the Board of Directors of Antti Ahlström Perilliset Oy. The largest shareholder of Detection Technology Plc, AC Invest Seven B.V. is a group company of Ahlström Capital Oy.

The Nomination Board recommends that Hannu Syrjälä is re-elected Chair of the Board of Directors.

Proposal on the remuneration of the Board of Directors

The Nomination Board proposes that the annual fixed remuneration of the Board of Directors would be as follows: the Chair would be paid an annual fee of EUR 60,000 (2019: EUR 55,000) and other members of the Board of Directors an annual fee of EUR 35,000 (2019: EUR 33,000) for other members.

Further, the Nomination Board proposes that the meeting-specific fees payable for each board meeting would be as follows: for each meeting held in the home country of the respective member, EUR 1,000 to the Chair of the Board of Directors and EUR 500 to other members of the Board of Directors and for each meeting held elsewhere than in the home country of the respective member, EUR 1,500 to the Chair of the Board of Directors and EUR 1,000 to other members of the Board of Directors.

An elected member of the Board of Directors may, at his/her discretion, choose to receive the annual fixed remuneration partly in company shares and partly in cash so that approximately 40% of the annual fixed remuneration is paid in Detection Technology Plc’s shares. The number of shares forming the above remuneration portion, which would be payable in shares, will be determined based on the share value in the stock exchange trading maintained by Nasdaq Helsinki Ltd, calculated as the trade volume weighted average quotation of the share during the one-month period immediately following the date on which the interim report of January-March 2020 of the company is published.

The travel expenses of the members of the Board of Directors are compensated in accordance with the company’s travel policy.

All of the proposals made by the Nomination Board were unanimous. The proposals will be included in the Notice to the Annual General Meeting. The Annual General Meeting is scheduled for 16 April 2020.

As of 2 September 2019, the Nomination Board has consisted of the Chairman of the Nomination Board CEO of Ahlström Capital Lasse Heinonen as the representative of Ac Invest Seven B.V.; and Board Member of OP Fund Management Company Kalle Saariaho, representing OP-Finland Mutual Fund, and Senior Vice President Pekka Pajamo of Varma Mutual Pension Insurance Company as Members. The Chairman of Detection Technology’s Board of Directors Hannu Syrjälä serves as an expert of the Nomination Board.

Detection Technology Plc
Hannu Martola, President and CEO

For more information:
Lasse Heinonen, +358 10 888 4450
Chairman of the Shareholders’ Nomination Board of Detection Technology Plc

Nordea is the company’s Certified Advisor under the Nasdaq First North GM rules.

Detection Technology Plc
Detection Technology is a global provider of X-ray detector solutions for medical, security and industrial applications. The company’s net sales totaled EUR 94 million in 2018. The company has 260 customers in 40 countries. Detection Technology employs more than 500 people in Finland, China, France and the US. The company’s shares are listed on Nasdaq First North Growth Market Finland under the ticker symbol DETEC. www.deetee.com

Distribution: Nasdaq Helsinki, key media, www.deetee.com