Fees to board members elected by the General Meeting are decided by the General Meeting. The Annual General Meeting April 12, 2022, resolved in accordance with the proposal of the Board of Directors that the monthly remuneration payable to the members of the Board of Directors elected at the Annual General Meeting for the term until the end of the Annual General Meeting in 2023 be as follows:
- EUR 10,000 per month for the Chairman of the Board of Directors;
- EUR 6,000 per month for the other members of the Board of Directors;
- EUR 3,000 per month for the Chairman of the Audit and Compensation Committee; and
- EUR 2,000 per month for the other members of the Audit and Compensation Committee.
The Annual General Meeting resolved further that approximately 50% of the aforementioned remuneration be paid in Company’s shares and approximately 50% be paid in cash, both in one instalment. The part of the remuneration paid in shares will be paid by either purchasing shares from the public market, or by transferring Company’s own shares. The shares will be delivered to the Board members within two (2) weeks from the day following the publication of the Company’s interim report for 1 January 2022–31 March 2022 or as soon as possible in accordance with applicable legislation. The Annual General Meeting also resolved that the travel expenses of the members of the Board of Directors are compensated in accordance with the Company’s travel rules.