STOCK EXCHANGE RELEASE - OTHER INFORMATION DISCLOSED ACCORDING TO THE RULES OF THE EXCHANGE
Recommendation by the Orion Nomination Committee on the proposals to be submitted to the 2023 Annual General Meeting
Recommendation on the number of members of the Board of Directors and its composition
The number of Board members would be eight.
The present members of the Board,
Recommendation on remuneration to be paid to members of the Board of Directors
In addition, the Nomination Committee announces as its recommendation that the following remunerations would be paid to the Board of Directors:
As an annual fee, the Chairman would receive
In addition, as a fee for each meeting attended, the Chairman would receive
Of the above-mentioned annual fees, 60 percent would be paid in cash and 40 percent in Orion Corporation B shares, which would be acquired for the members over the period 28 April–5 May 2023 from the stock exchange in amounts corresponding to
In addition, the company would pay the transfer tax related to the part of the annual fee of the Board of Directors paid in shares.
Potential statutory social security and pension costs incurring to Board members having permanent residence outside
Board members would be required to retain ownership of the Orion Corporation B shares paid as fees for a period of two years from the date of payment of the fees. However, if the person's membership of the Board of Directors of the company were to end before the expiry of the restriction on transfer, the restriction on transfer would expire at the end of the membership of the Board of Directors.
The Nomination Committee has not given its recommendation for the remunerations to the Board of Directors, but the matter will be proposed by a shareholder at the AGM.
The Nomination Committee notes that the annual fees are recommended to be increased approximately by 11 percent. Meeting fees are the same as those decided in 2022.
The members of the Nomination Committee belonging to the Board of Directors did not participate in the consideration or decision-making of the recommendation on the remuneration of the Board of Directors.
The Nomination Committee has consisted of the following members:
President and CEO | SVP, Corporate Functions |
Contact person:
Tel. +358 50 559 6580
Publisher:
Communications
Orionintie 1A, FI-02200 Espoo,
http://www.orion.fi/en
http://www.twitter.com/OrionCorpIR
Orion is a globally operating Finnish pharmaceutical company – a builder of well-being. Orion develops, manufactures and markets human and veterinary pharmaceuticals and active pharmaceutical ingredients. The company is continuously developing new drugs and treatment methods. The core therapy areas of Orion’s pharmaceutical R&D are oncology and pain. Orion’s net sales in 2021 amounted to
© OMX, source