11 JAN 2021

Statement Admicom Ahead of AGM

Following the recent change of management in Admicom where Antti Seppä is to leave as the company CEO we think there is a need for structural quality steps in the governance of Admicom.

We see great potential in vertical software traveling well and are optimistic about Admicom’s possibilities to grow internationally, not least via acquisitions. In this effort we think the below is necessary to set the direction going forward and ensure value for shareholders:

1. We would view the institution of a nomination committee for selecting board members as a very positive step in the direction of quality and maturity of the company. A nomination committee should be instituted by the AGM and consist of the four largest shareholders at a cutoff date during the fall.

2. We would like to see the following people on the board:
• Matti Häll
• Pasi Aaltola
• Sami Kettunen
• Simo Huvila
• Olli Nokso-Koivisto

3. To balance the interests of all shareholder groups, we think it would be best with an independent chairman. Among the independent candidates above we think either Sami Kettunen or Pasi Aaltola would be the two best candidates to act as independent chairman as they already are members of the board.

4. All investor information should be available on both Finnish and English starting from Q1 2021.

We believe that Finland needs a stronger cluster of digital champions that can grow internationally and acquire US, European including Swedish companies. We hope that the days are over where a Microsoft acquires a significant part of a Nokia – it should be the other way around! We want to actively promote more successful international Finnish software companies. In this effort we think the above steps are crucial in the realization of those ambitions.


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