PROPOSAL ON APPOINTMENT OF A NOMINATION BOARD
The Board of Directors proposes to the Annual General Meeting to be held on 27 March 2014 that the Annual General Meeting shall resolve to appoint a Nomination Board to prepare proposals concerning Board members and their remunerations for the following Annual General Meeting. The Nomination Board would consist of the representatives of the four largest shareholders and of the Chairman of the Board of Directors, acting as an expert member. The shareholders whose share of the total votes of all the shares of the Company is largest on the 1st day of November preceding the Annual General Meeting would have the right to appoint the members representing the shareholders. Should a shareholder not wish to use its right to nominate, this right would be passed on to the next largest shareholder. The largest shareholders would be determined on the basis of the ownership information registered in the book-entry system.
The Nomination Board would be convened by the Chairman of the Board of Directors, and the Board would choose a chairman from among its own members.
The Nomination Board should give its proposal to the Board of Directors of the Company at the latest by 15 February preceding the Annual General Meeting.
Vantaa, 28 February 2014
Exel Composites Plc
The Board of Directors