SSH Communications Security Corporation: Decisions Of The Extraordinary General Meeting Of SSH Communications Security Corporation

SSH Communications Security Corporation | Stock Exchange Release | August 07, 2025 at 14:00:00 EEST

The Extraordinary General Meeting of SSH Communications Security Corporation ("Company") took place today on 7 August 2025.

The Extraordinary General Meeting was held without a meeting venue using remote connection in real time, in accordance with Section 11 of the Company's Articles of Association and Chapter 5, Section 16 Subsection 3 of the Finnish Companies Act. Participation in the meeting was also possible through advance voting.

The Extraordinary General Meeting approved all the proposals made by the Board of Directors and the major shareholder to the Extraordinary General Meeting.

The Company and Leonardo S.p.A. have on 1 July 2025 entered into a framework investment agreement, whereby the parties have agreed on their future strategic cooperation and the terms on which Leonardo S.p.A. will make an investment in the Company by subscribing for new shares in the Company (the "Transaction").

To consummate the Transaction, the Extraordinary General Meeting approved the Board of Directors' proposal to authorize the Board of Directors to decide on the share issue against the payment on the following terms:

The authorization entitles the Board of Directors to decide on the issuing of a maximum of 13,333,333 shares as a directed share issue against payment in deviation from the shareholders' pre-emptive rights in one or several instalments. Based on the authorization, either new shares can be issued, or own shares, which the Company possibly has in its possession, can be transferred.

The authorization can be used to execute the Transaction.

Based on the authorization, the Board of Directors has the same right as the Extraordinary General Meeting to decide on the issuing of shares against payment. Thereby, the authorization to be given to the Board of Directors includes, inter alia, the right to deviate from the shareholders' pre-emptive rights with directed issues providing that the Company has a weighty financial reason for the deviation in respect of the share issue against payment.

The authorisation also includes the Board of Directors' right to resolve on the consideration paid for or in relation to the shares, subscription and payment periods, as well as the allocation of the subscription price to the Company's share capital or fund for invested unrestricted equity, within the limits permitted by the Finnish Companies Act.

The authorization will be valid until 30 April 2026. The authorisation does not reverse previous authorisations granted to the Board of Directors concerning the issuing of shares, stock options and other special rights.

The Extraordinary General Meeting approved the Board of Directors' proposal that the Section 4 of the Articles of Association of the Company is amended in its entirety to read as follows:

"Yhtiöllä on hallitus, johon kuuluu viidestä yhdeksään jäsentä. Hallituksen jäsenistä viisi valitsee yhtiökokous.

Yhtiökokouksen valitsemien hallituksen jäsenten toimikausi päättyy valintaa ensimmäiseksi seuraavan varsinaisen yhtiökokouksen päättyessä.

Hallitukseen valitaan enintään neljä jäsentä siten, että kullakin enemmän kuin 20 prosenttia yhtiön ulkona olevista osakkeista omistavalla osakkeenomistajalla on oikeus nimetä yksi hallituksen jäsen. Tällaisen hallituksen jäsenen toimikausi alkaa, kun osakkeenomistaja on ilmoittanut nimittämisestä hallitukselle ja päättyy, kun kyseinen osakkeenomistaja nimeää uuden hallituksen jäsenen, erottaa kyseisen hallituksen jäsenen tai kun kyseisen osakkeenomistajan omistusosuus ei ole enää enemmän kuin 20 prosenttia yhtiön ulkona olevista osakkeista."

English translation for information purposes only:

"The Company has a Board of Directors consisting of five to nine members.

Five members of the Board of Directors are elected by the General Meeting. The term of office of the members elected by the General Meeting expires at the end of the next Annual General Meeting following their election.

Up to four members may be appointed to the Board of Directors so that each shareholder holding more than 20 percent of the Company's outstanding shares is entitled to appoint one member to the Board of Directors. The term of office of such a Board member begins when the shareholder has notified the Board of Directors of the appointment and ends when the shareholder appoints a new Board member, dismisses the Board member, or when the shareholder's holding no longer exceeds 20 percent of the Company's outstanding shares."

The above-described amendment of the Articles of Association is conditional upon the consummation of the Transaction and the amendment will be filed for registration only after the consummation of the Transaction.

The Extraordinary General Meeting approved a proposal by Accendo Capital Oy that the Board Members would receive an annual fee of 35,000 euros, and the Chairman of the Board would receive an annual fee of 70,000 euros for the term in office ending in the next Annual General Meeting.

SSH COMMUNICATIONS SECURITY CORPORATION
Rami Raulas
CEO

For further information:
Michael Kommonen, CFO, tel. [phone], email [e-mail]
Markku Karppi, General Counsel, tel. [phone], email [e-mail]

Distribution:
Nasdaq Helsinki Ltd.
Major media
www.ssh.com