Vacon's Board of Directors proposes to the Annual General

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News Desk 2018

Feb 20, 2014 at 3:00 AM

Vacon's Board of Directors proposes to the Annual General Meeting to establish a Shareholders' Nomination Board

Vacon Plc, Stock Exchange Release, 20 February 2014 at 9.45 a.m. (EET) The Board of Directors of Vacon proposes to the Annual General Meeting to be held on 27 March 2014 that the General Meeting would resolve to establish a permanent Shareholders' Nomination Board to prepare proposals to the Annual General Meeting for the election and remuneration of the members of the Board of Directors and the remuneration of the members of the Nomination Board. In addition, the Board proposes the adoption of the Charter of the Shareholders' Nomination Board. According to the proposal, the Nomination Board comprises representatives of the four largest shareholders of the Company and, in addition, of the Chairman of the Company's Board of Directors. The right to nominate the shareholder representatives lies with those four shareholders whose share of all the voting rights in the Company is on 31 August preceding the next Annual General Meeting the largest on the basis of the shareholders' register of the Company held by Euroclear Finland Ltd. If a shareholder who has distributed his/her holdings e.g. into several funds and has an obligation under the Finnish Securities Markets Act to take these holdings into account when disclosing changes in share of ownership makes a written request to such effect to the Chairman of the Board of Directors no later than on 30 August, such shareholder's holdings in several funds or registers will be combined when calculating the share of votes which determines the nomination right. Further, holdings by a group of shareholders, who have agreed to nominate a joint representative to the Nomination Board, will be summed up when calculating the share of all the voting rights, provided that the shareholders in question present a joint written request to that effect together with a copy of such an agreement to the Chairman of the Company's Board of Directors no later than on 30 August preceding the Annual General Meeting. Should a shareholder not wish to use its nomination right, the right transfers to the next largest shareholder who would otherwise not have a nomination right. The Chairman of the Board of Directors convenes the first meeting of the Nomination Board and acts as a chairman of the Nomination Board until the Nomination Board has elected a chairman from among its members. The Nomination Board shall submit its proposals to the Board of Directors annually, latest on 31 January preceding the next Annual General Meeting. The invitation to the Annual General Meeting will be published later by a separate stock exchange release and on Vacon's website. VACON PLC The Board of Directors For more information please contact: * Vesa Laisi, President and CEO, Vacon Plc, phone +358 (0)40 8371 510, vesa.laisi(at)vacon.com * Sebastian Linko, Director, Corporate Communications and Investor Relations, Vacon Plc, phone +358 (0)40 8371 634, sebastian.linko(at)vacon.com Vacon in brief Vacon is driven by a passion to develop, manufacture and sell the best AC drives and inverters in the world - and provide customers with efficient product lifecycle services. Our AC drives offer optimum process control and energy efficiency for electric motors. Vacon inverters play a key role when energy is produced from renewable sources. Vacon has production and R&D facilities in Europe, Asia and North America, and sales offices in 30 countries. Further, Vacon has sales representatives and service partners in nearly 90 countries. In 2013, Vacon's revenues amounted to EUR 403.0 million, and the company employed globally approximately 1,600 people. The shares of Vacon Plc (VAC1V) are quoted on the main list of the Helsinki stock exchange (NASDAQ OMX Helsinki). Driven by Drives, www.vacon.com Distribution: NASDAQ OMX Helsinki Financial Supervisory Authority Main media ATTACHMENT [HUG#1763378]

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