Nomination Committee

Based on the Board of Directors' proposal, the Annual General Meeting of 2011 resolved to appoint a shareholders' Nomination Committee to prepare proposals concerning members of the Board of Directors and their remuneration for the following Annual General Meeting.

The Nomination Committee would consist of the representatives of the three largest shareholders and the Chairman of the Board of Directors, acting as an expert member, if he/she is not appointed representative of a shareholder. The members representing the shareholders would be appointed by the three shareholders whose share of ownership of the shares of the company is largest on 31 October preceding the Annual General Meeting. Should a shareholder not wish to use its right to nominate, this right would be passed on to the next largest shareholder who does not already have a right to nominate a representative. The largest shareholders would be determined on the basis of the ownership information registered in the book-entry system. However, holdings by a shareholder, who under the Finnish Securities Markets Act has the obligation to disclose changes in shareholdings (flagging obligation), may be combined provided that the owner presents a written request to that effect to the Board of Directors of the company no later than three business days prior to 31 October preceding the Annual General Meeting.

The Nomination Committee would be convened by the Chairman of the Board of Directors, and the Committee would appoint a chairman among its members.

The Nomination Committee should give its proposal to the Board of Directors of the company by 20 January preceding the Annual General Meeting.

The three largest shareholders, Cantell Oy, OP Fund Management Company and Mika Laine have appointed Aaro Cantell, chairman of Affecto's Board of Directors, Samuli Sipilä, managing director of OP Fund Management Company, and Mika Laine as members of the Nomination Committee.

Updated: 3 November 2011