Update to Duell Corporation’s notice to convene Annual General Meeting: Update to proposed members of the Board of Directors
Following a proposal by the shareholders of Duell Corporation (“Duell”), it has come to light that Board member Niko Mokkila will not be available for re-election to Duell’s Board of Directors at tomorrow’s Annual General Meeting on 25 November 2025 for personal reasons.
The shareholders, who in total represent 40.28 per cent of the shares in the company, had in accordance with the company release published on November 3, 2025, proposed Mokkila to be re-elected as a member of the Board of Directors and that the Board of Directors shall consist of five (5) members. The shareholders, who in total represent 40.28 per cent of the shares in the company, have after Mokkila’s announcement resolved to retain its proposal valid in all other respects, meaning that according to the proposal of the shareholders, the Board of Directors shall consist of four (4) members.
The Board of Directors of Duell has resolved, based on the request of the shareholders, who in total represent 40.28 per cent of the shares in the company, to update items 12 and 13 of the notice to the Annual General Meetings published as a company release on November 3, 2025, as follows:
“12. Resolution on the number of members of the Board of Directors
The shareholders, who in total represent 40.28 per cent of the shares in the company, propose to the Annual General Meeting that the number of ordinary members of the Board of Directors be 4 for the term of office of members of the Board of Directors that ends at the close of the Annual General Meeting following their election.
13. Election of members of the Board of Directors
The shareholders, who in total represent 40.28 per cent of the shares in the company, propose to the Annual General Meeting that the current members Anna Hyvönen, Kim Ignatius and Axel Lindholm are re-elected to the Board of Directors and Elina Rahkonen is elected as a new member to the Board of Directors for the term of office of members of the Board of Directors that ends at the close of the Annual General Meeting following their election. According to paragraph 6 of the articles of association, the Board of Directors appoints the Chair among its members.
All persons mentioned above have given their consent to the position. All proposed members of the Board of Directors are independent from the company. With the exception of Axel Lindholm, the proposed Board members are independent from the company’s significant shareholders.
Introduction of the new member of the Board of Directors is attached to this notice to the General Meeting.”
The notice to the Annual General Meeting, updated according to the proposal of the shareholders, who in total represent 40.28 per cent of the shares in the company (items 12 and 13), is attached to this release, while in all other respects, the notice to the Annual General Meeting remains as published on November 3, 2025.
Further information:
Pellervo Hämäläinen, Communications and IR Manager
Duell Corporation
+358 40 674 5257
pellervo.hamalainen@duell.eu
Certified Adviser
Oaklins Finland Ltd
+358 9 312 9670
Duell Corporation (Duell) is an import and wholesale company based in Mustasaari, Finland, established in 1983. Duell imports, manufactures, and sells products through an extensive distribution network in Europe covering approximately 8,500 dealers. The range of products includes over 100,000 items under more than 500 brands. The assortment covers spare parts and accessories for Motorcycling, Bicycling, ATVs/UTVs, Snowmobiling, Marine and Garden/Forest categories. Logistics centres are in Finland, Sweden, Netherlands, France, and the UK. Duell’s net sales in 2025 was EUR 127 million and it employs 200 people. Duell’s shares (DUELL) are listed on the Nasdaq First North Growth Market Finland marketplace. www.duell.eu.