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Decisions adopted in the organizing meeting of CapMan Plc Board of Directors

30/03/2011

CapMan Plc Stock Exchange Release 30 March 2011 1.45 p.m. EET 

Decisions adopted in the organizing meeting of CapMan Plc Board of Directors

 

Heikki Westerlund was elected Chairman and Teuvo Salminen Vice Chairman of the Board of Directors in the Board of Directors’ organizing meeting that took place today after the Annual General Meeting.

 

The Board of Directors established Audit, Nomination and Remunerations Committees from among its members as follows:

 

Audit Committee

  • Teuvo Salminen (Chairman)
  • Conny Karlsson

 

Remuneration Committee

  • Nora Kerppola (Chairman)
  • Koen Dejonckheere
  • Claes de Neergaard

 

Nomination Committee

  • Heikki Westerlund (Chairman)
  • Koen Dejonckheere
  • Teuvo Salminen

 

 

Independence of the members of the Board of Directors

 

The Board of Directors assessed the independence of its members and concluded that Nora Kerppola and Claes de Neergaard are independent of both the company and its significant shareholders. Koen Dejonckheere is independent of the company, but non-independent of its significant shareholders. Conny Karlsson and Teuvo Salminen, who act as CapMan advisors, are non-independent of the Company but independent of its significant shareholders. Heikki Westerlund is non-independent of both the Company and its significant shareholders.

 

CapMan deviates from the recommendation 26 of the Finnish Corporate Governance Code, which concerns the independence of the members of the audit committee of the company and of the significant shareholders. In line with recommendation 25, the Board of Directors has elected those members to the Audit Committee that have the best qualifications to perform the responsibilities of the Audit Committee. The Board of Directors has decided, in line with recommendation 22, that due to the low number of board members the Audit Committee consists of two members only.

 

 

CAPMAN PLC

 

Mari Reponen
Communications Directors

 

 

Additional information:
Heidi Sulin, Head of Legal and Compliance, tel. +358 207 207 517

 

 

 

Distribution:
NASDAQ OMX Helsinki Ltd
Principal media
www.capman.com

 

 

CapMan
CapMan is one of the leading private equity firms in the Nordic countries and Russia, with assets under management of €3.5 billion. CapMan has four key investment partnerships – CapMan Buyout, CapMan Russia, CapMan Public Market, and CapMan Real Estate – each of which has its own dedicated investment team and funds. Altogether, CapMan employs 150 people in Helsinki, Stockholm, Oslo, Moscow, Copenhagen and Luxembourg. CapMan was established in 1989 and has been listed on the Helsinki Stock Exchange since 2001.