Resolutions of Talvivaara Mining Company Annual General Meeting

2 May 2013 - Talvivaara Mining Company Plc ("Talvivaara" or the "Company") is pleased to announce that, at the Annual General Meeting of the Company held at 10:00 am today on 2 May 2013, all the resolutions proposed, as set out in the notice of the meeting to shareholders dated 25 March 2013, were duly passed.

Talvivaara's Annual General Meeting approved the financial statements and discharged the members of the Board of Directors and the CEO from liability for the financial year 2012. Annual General Meeting resolved that no dividend is paid for 2012 and that the loss of the financial period is entered into the Company's profit/loss account on the balance sheet.


The Board of Directors and the Auditor

As proposed by the Remuneration Committee the Annual General Meeting approved the annual fee payable to the members of the Board of Directors for the term until the close of the Annual General Meeting in 2014 to be as follows: Chairman of the Board of Directors: EUR 120,000/year, Deputy Chairman (Senior Independent Director): EUR 69,000/year, Chairmen of the Board Committees: EUR 69,000/year, other Non-Executive Directors: EUR 48,000/year and Executive Directors EUR 48,000/year.

As proposed by the Nomination Committee the Annual General Meeting decided the number of Board members to be nine (9) and as proposed Mr. Tapani Järvinen, Mr. Pekka Perä, Mr. Graham Titcombe, Mr. Edward Haslam, Ms. Eileen Carr, Mr. Stuart Murray, Mr. Michael Rawlinson and Ms. Kirsi Sormunen were re-elected, and Ms. Maija-Liisa Friman was elected as a new member to the Board.

It was resolved that the auditor will be reimbursed according to the auditor's approved invoice. The authorised public accountants PricewaterhouseCoopers Oy was elected as the auditor of the Company for the financial year 2013. PricewaterhouseCoopers Oy has confirmed that the auditor with principal responsibility will be Ms. Ylva Eriksson.


Establishment of the Shareholders' Nomination Panel

As proposed by the Board of Directors the Annual General Meeting resolved to establish a Shareholders' Nomination Panel to prepare proposals for the election and remuneration of the members of the Board of Directors to General Meetings. In addition, the Annual General Meeting adopted the Charter of the Shareholders' Nomination Panel.


Resolution to amend article 8 of the Articles of Association

The Annual General Meeting also resolved to amend article 8 of the Company's Articles of Association to correspond to the changes to be made to the duties of the Board Committees due to the establishment of the Shareholder's Nomination Panel and the current practices applied by the Company.



ENQUIRIES

Talvivaara Mining Company Plc
Tel: +358 20 7129 800
Pekka Perä, CEO
Saila Miettinen-Lähde, Deputy CEO and CFO


Talvivaara Resolutions of AGM 2013 2 5 2013:
http://hugin.info/136227/R/1698672/560114.pdf



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Source: Talvivaaran Kaivososakeyhtiö Oyj via Thomson Reuters ONE [HUG#1698672]