RESOLUTIONS OF THE ANNUAL GENERAL MEETING OF GLASTON CORPORATION

Glaston Corporation                                                                           Stock Exchange Release 5.4.2016 at 17.50

RESOLUTIONS OF THE ANNUAL GENERAL MEETING OF GLASTON CORPORATION

The Annual General Meeting of Glaston Corporation was held on 5 April 2016 in Helsinki. The General Meeting adopted the financial statements and consolidated financial statements for the financial period from 1 January to 31 December 2015. In accordance with the proposal of the Board of Directors, the General Meeting resolved that a return of capital of EUR 0.01 per share be paid. The record date for the payment is on 7 April 2016 and the return of capital is paid on 28 April 2016.

The General Meeting discharged the members of the Board of Directors and the President and CEO from liability concerning the financial year from 1 January to 31 December 2015.

The number of the members of the Board of Directors was resolved to be seven. The General Meeting decided to re-elect all current members of the Board of Directors, Mr. Andreas Tallberg, Mr. Teuvo Salminen, Mr. Claus von Bonsdorff, Ms. Anu Hämäläinen, Mr. Kalle Reponen and Mr. Pekka Vauramo, as members of the Board of Directors for the following term ending at the closing of the next Annual General Meeting.  In addition, it was resolved  that architect Sarlotta Narjus be elected as new member of the Board of Directors for the same term.

In its organization meeting held after the General Meeting, the Board of Directors elected Andreas Tallberg as Chairman of the Board and Teuvo Salminen as Vice Chairman of the Board.

The General Meeting resolved that the yearly remuneration payable to the members of the Board of Directors remain as follows: 40,000 euro for the Chairman of the Board and 30,000 euro for the Vice Chairman of the Board and the remuneration payable to other members of the Board of Directors shall remain at 20,000 euro.

The General Meeting elected accounting firm Ernst & Young Oy as the company’s auditor with Authorised Public Accountant Kristina Sandin as the main responsible auditor.

The General Meeting authorised the Board of Directors to decide on the issuance of shares as well as the issuance of options and other rights entitling to shares. The authorisation consists of up to 20,000,000 shares in the aggregate.

The authorisation does not exclude the Board of Directors' right to decide on a directed issue. The authorisation was proposed to be used for material arrangements from the company's point of view, such as financing or implementing business arrangements or investments or for other such purposes determined by the Board of Directors in which case a weighty financial reason for issuing shares, options or other rights and possibly directing a share issue would exist.

The Board of Directors is authorised to resolve on all other terms and conditions of the issuance of shares, options and other rights entitling to shares as referred to in Chapter 10 of the Companies Act, including the payment period, grounds for the determination of the subscription price and subscription price or allocation of shares, option or other rights free of charge or that the subscription price may be paid besides in cash also by other assets either partially or entirely. The authorisation is effective until 30 June 2017. The authorisation supersedes earlier authorisations.

In accordance with the proposal of the Board of Directors, the General Meeting resolved to amend the Charter of the Shareholder’s Nomination Board, established by the Annual General Meeting in 2013, to reflect the content of the new Corporate Governance Code. In addition, the meeting resolved that the proposal of the Nomination Board shall be the opinion supported by the majority of the members of the Nomination Board.

 

Helsinki, 5 April 2016
GLASTON CORPORATION
Arto Metsänen
President and CEO

Further information:
President and CEO Arto Metsänen
Tel. +358 10 500 500

Glaston Corporation
Glaston is a global company developing glass processing technology for architectural, solar, appliance and automotive applications. Our product portfolio ranges from pre-processing and safety glass machines to services. We are dedicated to our customers' continued success and provide services for all glass processing needs with a lifecycle-long commitment in mind. Further information is available at www.glaston.net Glaston’s shares (GLA1V) are listed on NASDAQ Helsinki Ltd's Small Cap List.

Distribution: NASDAQ Helsinki Ltd, key media, www.glaston.net

 

 

 

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