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Basware announces composition of nomination board.

M2 EQUITYBITES-September 4, 2019-Basware announces composition of nomination board


Basware Oyj (HEL:BAS1V), a provider of enterprise software for financial processes, purchase to pay and financial management, announced on Tuesday that the members of its nomination board are Andrew Billett, Arrowgrass Capital Partners LLP; Hannu Vaajoensuu; Kirsi Erakangas and Ilkka Sihvo, chairman of the board of directors of Basware.

This nomination board shall elect a chairman from amongst its members.

Reportedly, in accordance with the charter of Basware's nomination board, as amended and approved by the company's Annual General Meeting held on 16 March 2017, the nomination board will consist of four members, three of which are appointed by the company's three largest shareholders, who appoint one member each. The chairman of the company's board of directors will serve as the fourth member.

The company's largest shareholders entitled to appoint members to the nomination board shall be determined annually on the basis of the registered holdings in the company's shareholders' register held by Euroclear Finland Ltd as of the first weekday in September in the year concerned, or on the basis of separate shareholding information presented by nominee registered shareholders.

Also, this nomination board of Basware is responsible for preparing and presenting proposals covering the remuneration and number of members of the company's board of directors as well as proposal on the members of the board of directors to Annual General Meeting and, where needed, to an Extraordinary General Meeting.

In addition, this nomination board is also responsible for identifying successors for existing board members.

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Publication:M2 EquityBites (EQB)
Date:Sep 4, 2019
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