Conflicts of interest
The conflicts of interest concerning the senior management of Finnish companies are set forth in the Finnish Limited Liability Companies Act. According to chapter 6, section 4 of the Finnish Limited Liability Companies Act, Board members may not participate in the handling of a matter concerning the agreement between them and the company. Nor may they participate in the handling of a contract between the company and a third party if they may thereby receive a material benefit that may be in contradiction with the interests of the company. The above provision shall correspondingly apply to other legal actions or court proceedings and to other corporate actions. The same provisions are applied to the CEO.
Besides the duties presented hereafter, the Board members, the CEO and the CFO of the company do not have any conflicts of interest between their duties to the Company and their private interests or other duties.
Rakennusliike Lehto Oy, Lehto Group Oyj’s subsidiary, is one of the company’s construction partners and may carry out property projects that compete with the company. Pertti Huuskonen, Chairman of the Board of Directors of the company, is Chairman of the Board of Directors of Lehto Group Oyj and its shareholder. In Lehto Group Oyj, the senior management and the Board of Directors of Rakennusliike Lehto Oy shall decide on property projects possibly competing with the company, and Pertti Huuskonen is not a member or a participant in them.
Rakennusliike Lapti Oy is one of the company’s construction partners, in addition to which Rakennusliike Lapti Oy may carry out property projects competing with the company. Timo Pekkarinen, member of the Board of Directors of the company, is the Managing Director, a Board member and shareholder of Rakennusliike Lapti Oy.
Temotek Oy and Temotek Palvelut Oy may carry out property projects that compete with the company. Reijo Tauriainen, is a member of the Board of Directors of the company, a Board member of Temotek Oy and Temotek Palvelut Oy.