Alma Media Corporation Stock Exchange Release February 10, 2012 at 14.30 (EET)
PROPOSAL BY THE NOMINATION AND COMPENSATION COMMITTEE OF ALMA MEDIA CORPORATION'S BOARD OF DIRECTORS FOR THE COMPOSITION AND REMUNERATION OF THE BOARD OF DIRECTORS
Proposal for the composition of the Board of Directors
The Nomination and Compensation Committee of the Board of Directors of Alma Media Corporation proposes to the Annual General Meeting scheduled for March 14, 2012 that the Board continues to consist of seven (7) members.
The Committee proposes to the Annual General Meeting that the current Board members Seppo Paatelainen, Timo Aukia, Petri Niemisvirta, Kai Seikku, Erkki Solja, Catharina Stackelberg-Hammarén and Harri Suutari be re-elected to the Board of Directors for the term ending at the close of the following ordinary annual general meeting.
The personal details of the candidates as well as information on their positions of trust are available on the company's website at www.almamedia.fi/board_members.
Remuneration of the members of the Board of Directors
The Nomination and Compensation Committee of the Board of Directors proposes that the remuneration of the members of the Board remains unchanged, and the Chairman of the Board would be paid an annual fee of EUR 33,000, the vice chairman EUR 27,000 and ordinary members EUR 22,000. Additionally, the Chairmen of the Board and the Committees would be paid a fee of EUR 1,000, the vice chairmen EUR 700 and ordinary members EUR 500 for each Board and Committee meeting they attend. Compensation for travel expenses is proposed to be paid in accordance with the company's travel policy.
It is proposed that the annual fees for the members of the Board be paid in Alma Media Corporation shares by acquiring for the members a number of shares corresponding to approximately 40% of the full amount of the annual remuneration, and the remainder in money for taxation purposes. Shares thus acquired may not be transferred until the recipient's membership in the Board has ended. In case shares cannot have been acquired until the end of 2011, for example because of pending insider transactions, the full annual remuneration is paid in money.
ALMA MEDIA CORPORATION
Vice President, Corporate Communications and IR
Mikko Korttila, General Counsel; Secretary to the Board of Directors of Alma Media Corporation, tel. +358 10 665 2201
Distribution: NASDAQ OMX Helsinki Stock Exchange, principal media
Alma Media in brief
Alma Media is a dynamic media company whose best-known products are Aamulehti, Iltalehti, Kauppalehti and Etuovi.com. Alma Media employs approximately 3,000 professionals. The company's net sales in 2010 totalled MEUR 311.4 with an operating margin of 13.9 per cent. Alma Media's share (ALN1V) is listed in the NASDAQ OMX Helsinki Exchange. Read more at www.almamedia.fi