Stock exchange release
Free for publication on March 22, 2021 at 7:59 pm (CET+1)
Bittium Corporation ("Company") has become aware that the three largest shareholders have changed their proposals regarding the number of members and the composition of the Board of Directors to the General Meeting to be held on April 14, 2021.
The above mentioned three largest shareholders who represent approximately 12.92 percent of the shares in the Company propose to the General Meeting that the number of members of the Board of Directors shall be five (5). The above mentioned three largest shareholders further propose to the General Meeting that for a term of office ending at the end of the next General Meeting following the election, Mr. Erkki Veikkolainen, Ms. Riitta Tiuraniemi, Mr. Veli-Pekka Paloranta and Mr. Pekka Kemppainen be re-elected as members of the Board of Directors and Mr. Petri Toljamo be elected as a new member of the Board of Directors. All candidates and the evaluation regarding their independence have been presented on the Company's website www.bittium.com. All candidates have given their consent to the election. Current members of the Board Mr. Juha Putkiranta and Mr. Seppo Mäkinen have stated to the above mentioned three largest shareholders that they will no longer be available for election as members of the Board of Directors.
Due to the changed proposals, the Company will publish today a new notice to the Annual General Meeting. With the exception of the changes described above and other changes directly related to the publication of the new meeting notice and certain technical changes, the new meeting notice will correspond to the previous meeting notice.
Oulu, Finland, March 22, 2021
The Board of Directors
Tel. +358 40 344 5258
Nasdaq Helsinki Oy
Bittium specializes in the development of reliable, secure communications and connectivity solutions leveraging its over 35-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 2020 were EUR 78.4 million and operating profit was EUR 2.1 million. Bittium is listed on Nasdaq Helsinki. www.bittium.com