Basic stock information
Terrafame has one series of shares. At the end of September 2024, the company had 5,968,655 shares. Its share capital was EUR 2.0 million.
Shareholders' holdings
At the end of September 2024, Finnish Minerals Group (FMG), a special-assignment company of the state of Finland, owned 56.1%, Galena funds managed by Trafigura owned 39.4% and Mandatum owned 4.5% of Terrafame.
Finnish Minerals Group’s holding may decrease to no lower than 50.1% in the future if Trafigura and Mandatum exercise all their option rights. In such a case, the holding of Trafigura would be around 45.0%, and the holding of Mandatum around 5.0%.
Shareholder agreement
A shareholder agreement on the use of proprietary rights and decision-making at the company has been concluded between the company’s shareholders.
The major shareholders of the company submit their proposals for the composition of the Board in accordance with the shareholder agreement. hus, Suomen Malmijalostus Oy (Finnish Minerals Group) has the right to nominate candidates for up to five Board positions, and the Galena funds have the right to nominate candidates for up to two Board positions.
The shareholder agreement for the company has also agreed to establish three advisory committees:
- The Commercial Committee is assessing, monitoring, planning and obtaining information about the company's commercially significant matters.
- The Technical Committee is evaluating, monitoring, planning and obtaining information on current affairs related to the company's development projects, the operations of the mine and metals production plant and the company's development projects.
- The Financial Committee is assessing and monitoring the company's financial position and planning, preparing and obtaining information on projects aimed at improving it.
The members of the committees shall be appointed in the procedure under the shareholder agreement. The committees act in accordance with separate rules of procedure established by the Board. No independent decision-making or representation powers within the company have been assigned to the committees.
Additionally, during the financial year 2023, the board of Terrafame decided to establish an audit committee as well as a personnel and remuneration committee.