Decisions of Destia’s Board of Directors and Annual General Meeting

Mon 27 May 2019 09:15:00 AM EEST

The Annual General Meeting of Destia Group Plc’s Board of Directors confirmed on 22 May 2019 the company’s financial statements from 2018 and discharged the CEO and members of the Board from liability.

The Annual General Meeting decided, as proposed by the Board of Directors, that from the financial period that ended on 31 December 2018, EUR 10 million will be distributed as capital repayment from the non-restricted equity fund.

Composition of the Board of Directors

The meeting decided that the number of Board members would be six. Juhani Pitkäkoski was elected as the Chairman of the Board of Directors. Marcus Ahlström, Lasse Heinonen, Pasi Koota and Juha Nurmi were re-elected as members of the Board of Directors. Soile Kankaanpää was elected as a new member of the Board. Soile Kankaanpää has strong international experience in managerial duties in sales. She acts as the chief commercial officer of ISS Palvelut, has previously worked for Uponor, Knoecranes and Nokia, among others. All member of the Board of Directors have given their consent for the role.

Based on the Board’s assessment of independence, all members of the Board are independent of the company and the owner with the following exceptions: Lasse Heinonen and Pasi Koota are not independent of the owner.

“Destia is, in accordance with its new strategy, growing itself to be an even stronger city developer and Destia will chart new business opportunities in Northern Sweden and Northern Norway. To reach the objective of ‘Connecting Northern Life’ we evolve and develop the company in cooperation with the Destia employees,” says Juhani Pitkäkoski, Chairman of the Board of Directors.

“Destia is a fine and growing company. Significant changes in management, strategy and organisation have been done in Destia. It is good to bring some new thinking into the Board,” states Arto Räty, the previous Chairman leaving the Board of Directors.

The compensation and choosing of the auditor

The Annual General Meeting elected KPMG Oy Ab as Destia Group Plc’s auditor, with Virpi Halonen as the auditor with principal responsibility. The compensation of the auditor will be paid according to the accepted invoice.

Board of Directors organising meeting was held

Board of Directors organising meeting was held on 22 May 2019. The Vice Chairman of the Board of Directors and the composition of the Audit Committee and the Reward Committee were decided in the meeting. Lasse Heinonen will continue as the Board of Directors Vice Chairman. Pasi Koota was elected as Chair of the Audit Committee, and Marcus Ahlström and Juha Nurmi as members. Juhani Pitkäkoski was elected as Chair of the Reward Committee, and Lasse Heinonen and Soile Kankaanpää as members.

Further information: CEO Tero Kiviniemi, tel. +358 (0)20 444 4000