Lamor Corporation Plc | Stock Exchange Release | January 27, 2026 at 17:40:00 EET
Proposals by the Shareholders' Nomination Board to Lamor Corporation Plc’s Annual General Meeting 2026
The Shareholders’ Nomination Board of Lamor Corporation Plc proposes to the Annual General Meeting to be held on 20 April 2026 that the meeting would decide on the composition and remuneration of the Board of Directors as follows:
Board composition
The Nomination Board proposes that the number of the members of the Board of Directors to be confirmed at five (5), and that Nina Ehrnrooth, Kaisa Lipponen, Timo Rantanen and Mika Ståhlberg to be re-elected as Board members. In addition, the Nomination Board proposes that Ari Virtanen is elected as a new Board member. The proposed Board members have consented to their respective appointment.
Should one or more of the candidates proposed by the Nomination Board not be available for election to the Board of Directors for any reason, the proposed number of the members of the Board of Directors shall be decreased accordingly, and the Nomination Board proposes that the remaining available candidates are elected in accordance with the proposal by the Nomination Board.
As regards the election procedure for the members of the Board of Directors, the Shareholders’ Nomination Board recommends that shareholders take a position on the proposal as a whole, to ensure that the proposed Board of Directors has the best possible expertise and experience.
All candidates proposed to be elected are independent of the company and its significant shareholders, except for Timo Rantanen. Further information on the current Board members is provided on Lamor's website at https://www.lamor.com/investors/governance/board-of-directors. Information on the new candidate is attached to this release.
Board remuneration
The Nomination Board proposes that the remuneration to the Board members for the coming term 2026 would remain unchanged, and be as follows (previous term’s remuneration in brackets):
Annual fees
Board members will be paid the following fixed annual fees:
- for the Chair of the Board EUR 50,000 (50,000)
- for the potential Vice Chair of the Board EUR 45,000 (45,000)
- for a Board Member EUR 20,000 (20,000)
It is recommended that a member of the Board of Directors acquires shares in the company at the price paid in public trading with 40 per cent of her/his gross fixed annual fee until the value of the shares in the company owned by the respective member of the Board of Directors equals to two times her/his gross fixed annual fee.
Committee fees
In addition to the fixed annual Board fees mentioned above, fixed annual fees for committee work will be paid as follows:
Audit Committee
- for the Chair EUR 10,000 (10,000)
- for a Member EUR 5,000 (5,000)
Remuneration Committee
- for the Chair EUR 5,000 (5,000)
- for a Member EUR 2,500 (2,500)
If the Chair of the Audit Committee or the Chair of the Remuneration Committee acts as the Chair or as the Vice Chair of the Board of Directors, no remuneration related to the committee work shall be paid.
Meeting fees
In addition to the fixed annual fees mentioned above, the following meeting fees will be paid for participation in the Board meetings:
- EUR 1,000 (1,000) meeting fee per meeting shall be paid to all Board members and the Chairman of the Board of Directors
- No separate meeting fee shall be paid for Committee meetings
Travel expenses
In addition, reasonable accrued travel expenses and other potential costs related to Board and Committee work will be reimbursed in line with the company’s normal practice.
Composition of the Shareholders’ Nomination Board
The composition of the Shareholders’ Nomination Board that has prepared the proposals for 2026 Annual General Meeting is as follows: Petter Larsen, CEO, Larsen Family Corporation Oy, Juuso Puolanne, Investment Director, Finnish Industry Investment Ltd, Juulia Kurunsaari, EVP, General Counsel, Ilmarinen Mutual Pension Insurance Company and Mika Ståhlberg, Chairman of the Board of Directors, Lamor Corporation Plc.
Fred Larsen (Chair of the Board of Directors, Larsen Family Corporation Oy) has been a member of Lamor’s Shareholders' Nomination Board until 27 January 2026. Fred Larsen has not taken part in the decision-making concerning Shareholders' Nomination Board’s proposals to the Annual General Meeting 2026.
The proposals of the Nomination Board will be included in the notice to convene the Annual General Meeting.