Uponor Corporation Investor information 13 August 2009
Uponor nomination committee re-established
The Board of Directors of Uponor Corporation resolved on 29 April 2009 to
re-establish the Nomination Committee and to ask the three main shareholders
(as per 31 July 2009) to appoint each one member to the nomination committee.
According to the shareholding situation on 31 July 2009, the three biggest
shareholders and their nominees are:
Oras Invest Oy - Mr. Pekka Paasikivi
Mutual Pension Insurance Company Varma - Mr. Risto Murto
Mandatum Life Insurance Company - (declined to nominate)
The Board of Directors further nominated its chairman, Mr. Jari Paasikivi as an
expert member of the nomination committee. The members shall elect the chairman
from amongst themselves.
Uponor will thus deviate from the Finnish Corporate Governance Code
recommendation. Taking the company's ownership structure into account, the
Board's view is that a model in which the largest shareholders nominate the
members of the nomination committee will best serve the interests of the
shareholders as well as the goal of transparency.
The Board appointed the Audit Committee in April, and further resolved that no
separate remuneration committee will be established while the Board will
continue to fulfil the duties of the remuneration committee.
Vice President, Communications
Tel. +358 20 129 2852
NASDAQ OMX Helsinki
Uponor is a leading supplier of plumbing and heating systems for the
residential and commercial building markets across Europe and North America and
a market leader in municipal infrastructure pipe systems in the Nordic
countries. Uponor's key applications include indoor climate and tap water
systems. The Group employs ca 3,800 persons in 27 countries. In 2008, Uponor's
net sales totalled 950 million euros. Uponor Corporation is listed on the
NASDAQ OMX Helsinki Ltd., Finland. http://www.uponor.com