Decisions by Fortum Corporation's Annual General Meeting 2015
FORTUM CORPORATION STOCK EXCHANGE RELEASE 31 March 2015 at 17.25 EEST
Fortum Corporation’s Annual General Meeting was held in Helsinki on 31 March 2015. The Annual General Meeting adopted the financial statements and the consolidated financial statements for the financial period 1 January–31 December 2014.
In accordance with the proposal of the Board of Directors, the Annual General Meeting decided that a dividend of EUR 1.10 per share and an extra dividend of EUR 0.20 per share be paid based on the adopted balance sheet for the financial year that ended on 31 December 2014, i.e. the total amount of dividend to be paid is EUR 1.30 per share which corresponds to EUR 1,154,877,158.50 in aggregate, and that the remaining part of the profit shown on the balance sheet shall be retained in the company's unrestricted equity. The dividend and the extra dividend will be paid to the shareholders who on the record date of the dividend payment 2 April 2015 are recorded in the company's shareholders' register held by Euroclear Finland Ltd. The dividend and the extra dividend will be paid on 14 April 2015.
The Annual General Meeting discharged from liability the members of the Fortum Board of Directors, the President and CEO and the Deputy of the President and CEO for the year 2014.
Board of Directors, remunerations and auditor
The Annual General Meeting confirmed the following remuneration for Board service for the upcoming term in accordance with the proposal by the Finnish State:
for the Chairman EUR 75,000 per year,
for the Deputy Chairman EUR 57,000 per year,
for a Member EUR 40,000 per year, and
for the Board member acting as the Chairman of the Audit and Risk Committee EUR 57,000 per year if he or she is not at the same time acting as Chairman or Deputy Chairman of the Board.
In addition, a fee of EUR 600 is paid for each Board meeting and Board Committee meeting. For Board members living outside Finland in Europe, the proposed fee for each meeting will be doubled, and for Board members living outside Europe, the proposed fee for each meeting will be tripled. For Board members living in Finland, the proposed fee for each Board and Board Committee meeting will be doubled for meetings held outside Finland and tripled for meetings held outside Europe. For Board and Committee meetings held as a telephone conference, the proposed fee will be paid as single to all members. No fee will be paid for decisions made without a separate meeting.
In accordance with the Shareholders’ Nomination Board’s proposal, the number of members in the Board of Directors was confirmed to be eight.
In accordance with the Shareholders' Nomination Board’s proposal, the Annual General Meeting elected the following persons to the Board of Directors for a term of office ending at the closing of the next Annual General Meeting: Ms Sari Baldauf as Chairman, Mr Kim Ignatius as Deputy Chairman, and Ms Minoo Akhtarzand , Mr Heinz-Werner Binzel , Ms Eva Hamilton , Mr Tapio Kuula , Mr Petteri Taalas and Mr Jyrki Talvitie as Members.
Further details of the members of the Board of Directors are attached to this release (Appendix 1).
The Annual General Meeting decided, in accordance with the proposal of the Board of Directors, to pay to the auditor according to an invoice approved by the company.
The Annual General Meeting decided, in accordance with the proposal of the Board of Directors, to re-elect Deloitte & Touche Ltd, Authorised Public Accountants, as the auditor. Deloitte & Touche Ltd has notified the company that Authorised Public Accountant Jukka Vattulainen will act as the principal auditor.
Minutes of the meeting
The minutes of the Annual General Meeting will be available on the company’s website as from 14 April 2015, at the latest.
Senior Vice President, Corporate Communications
Sirpa-Helena Sormunen, General Counsel, Fortum Corporation, Tel. +358 10 452 5350
Fortum’s purpose is to create energy that improves life for present and future generations. Catering to the versatile needs of our customers, we generate, distribute and sell electricity and heat, and offer related expert services. Our operations focus on the Nordic and Baltic countries, Russia and Poland. In 2014, Fortum’s sales totalled EUR 4.75 billion and comparable operating profit was EUR 1.35 billion. We employ approximately 8,800 people. Fortum’s shares are traded on the Nasdaq Helsinki. http://www.fortum.com