Stock exchange release
The Annual General Meeting of Bittium Corporation was held on April 10, 2019, at 1pm at the University of Oulu, Saalastinsali, Pentti Kaiteran katu 1, 90570 Oulu, Finland. On the same day, the Company announced with a stock exchange release the decisions of the Annual General Meeting, including the decisions of the Board of Director’s Assembly Meeting held on the same day. It was mispresented in the release, that Ms. Riitta Tiuraniemi would have been selected as the Chairman of the Audit Committee. In its Assembly Meeting the Board of Directors selected Mr. Juha Putkiranta as the Chairman of the Audit Committee. Other members of the Committee are Ms. Riitta Tiuraniemi and authorized public accountant Seppo Laine, who was invited to the Audit Committee as external advisor of the Board of Directors.
Corrected chapter of Election and Remuneration of the members of the Board of Directors:
ELECTION AND REMUNERATION OF THE MEMBERS OF THE BOARD OF DIRECTORS
The Annual General Meeting decided that the Board of Directors shall comprise six (6) members. Ms. Riitta Tiuraniemi, Mr. Seppo Mäkinen, Mr. Juha Putkiranta, Mr. Petri Toljamo and Mr. Erkki Veikkolainen were re-elected as members of the Board of Directors for a term of office expiring at the end of the next Annual General Meeting. Further, Mr. Pekka Kemppainen was elected as the new member of the Board of Directors for a corresponding term of office.
At its assembly meeting held on April 10, 2019, the Board of Directors has elected Mr. Erkki Veikkolainen Chairman of the Board. Further, the Board has resolved to keep the Audit Committee. Mr. Juha Putkiranta (Chairman of the committee) and Ms. Riitta Tiuraniemi were elected as members of the Audit Committee and authorized public accountant Seppo Laine was invited to the Audit Committee as external advisor of the Board of Directors.
The following monthly remuneration shall be paid to the members of the Board of Directors: to the chairman of the Board of Directors EUR 3,150 and to the other members of the Board of Directors EUR 1,800 each. In addition, the members of the Board of Directors are entitled to compensation for attending Board meetings as follows: the chairman of the Board EUR 875 for each meeting and other members EUR 500 for each meeting. In addition, the members of the Board of Directors are entitled to compensation for attending Committee meetings as follows: the chairman of the Committee EUR 600 for each meeting and other Committee members EUR 400 for each meeting. Travel expenses of the members of the Board of Directors shall be reimbursed in accordance with the Company's travel policy. The General Meeting also decided that 50 percent of the total amount of the monthly remuneration will be paid at once as Bittium Corporation's shares acquired for the price formed in public trading, and the shares will be acquired according to the share purchase program of the company.
Oulu, April 12, 2019
Chief Legal Officer
Tel. + 358 40 344 5258
Nasdaq Helsinki Ltd
Bittium specializes in the development of reliable, secure communications and connectivity solutions leveraging its 30 year legacy of expertise in advanced radio communication technologies. Bittium provides innovative products and services, customized solutions based on its product platforms and R&D services. Complementing its communications and connectivity solutions, Bittium offers proven information security solutions for mobile devices and portable computers. Bittium also provides healthcare technology products and services for biosignal measuring in the areas of cardiology, neurology, rehabilitation, occupational health and sports medicine. Net sales in 2018 were EUR 62.8 million and operating profit was EUR 2.8 million. Bittium is listed on Nasdaq Helsinki. www.bittium.com