pekka18 Jun 2017 19:22
sorry off the board but still ceo
Talvivaara CEO Pekka Perä stands no longer available as a director of the company. The news came Pera at Talvivaara shareholders' meeting today.
The AGM also decided to lower the Board of Directors. The Chairman will continue to EUR 75 000 per year, compared with 84 000 in the past. The two other board members' annual fees will be reduced by EUR 5 000 to 43 000.
As the Board continues Tapani Järvinen. Stuart Murray and Solveig Törnroos-Huhtamäki's board members.
The company has been criticized for the large group spending without having any business.
Talvivaara has no real business
The District Court of Espoo recently decided to companies redevelopment of Talvivaara can begin. It meant immediately to the company's debt of 450 million euros fell to only EUR 10 million.
Talvivaara debtors, ie banks and government Finnvera protested against this, because companies redevelopment means that debtors do not get their money back in the process.
The company, which has no real business, now has two years to develop new business and secure funding for it.
The company must have plans to develop the business around the metal.
Talvivaara has been a dairy cow?
The mine in Talvivaara
The mine in Sotkamo was taken over by the state Picture: All Over Press / Jarno Kuusinen
Talvivaara Mining - Talvivaara Sotkamo - went bankrupt in 2014 and fell after the government arms and changed its name to Terra Fame.
The parent company Talvivaara fared as from bankruptcy, which surprised and angered many.
The then Minister Jan Vapaavuori (National Coalition Party) was among those who demanded that also the parent company's bankruptcy.
It did not, however, and Talvivaara has since supplied a number of people, among them Pekka Perä, who reportedly have taken wages from the company for a total of almost one million euros in recent years.
The Board's fees were passed about 700 000.
Finnish people bought shares
It was only four years ago Talvivaara made its final placement. In the pleading man on the safeguarding of jobs in Kainuu.
The issue generated SEK 260 million euros - and it was especially households that wanted to invest money in Talvivaara.
But the money was running out and Talvivaara ran up a debt of almost one billion euros instead.
In early June, was sentenced Pekka Perä by the Helsinki District Court to eight-month suspended prison sentence for Information offense under the Securities Act.
Perä had the Court given misleading information about the former mining company's production forecasts in 2012 and in 2013.
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