The Extraordinary General Meeting in Helsinki established a six-member Board of Directors for WISA, appointing Tapio Korpeinen as Chair and Mats Nordlander as Deputy Chair. Joining them on the board are Sakari Ahdekivi, Frank Herrmann, Nina Kiviranta, and Emmanuelle Picard. The board is authorized to issue up to 25 million shares to support future acquisitions, capital structure development, or incentive plans. Additionally, directors may acquire or accept as a pledge up to 50 million WISA shares, providing flexibility in managing the company’s equity.
UPM-Kymmene Clears Path for WISA Group Spin-Off
Shareholders of UPM-Kymmene Corporation voted on August 31 to approve the partial demerger of the company, clearing the way for the creation of an independent entity to be named WISA Group Plc. The resolution confirms the leadership structure and financial authorizations for the new firm, contingent upon the demerger's completion.
Financial arrangements for the board include a tiered compensation structure, with base fees ranging from 25,000 to 50,000 euros, supplemented by one-time payments for pre-listing preparatory work. Approximately 40% of these base fees will be settled in company shares. Ernst & Young Oy has been selected as the auditor, with Kristina Sandin serving as the lead audit partner. These decisions remain conditional upon the finalization of the demerger process, the plan for which was originally signed by UPM’s board in April.
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