DECISIONS BY THE ANNUAL GENERAL MEETING OF LÄNNEN TEHTAAT PLS
LÄNNEN TEHTAAT PLC STOCK EXCHANGE RELEASE March 29, 2007 at 4;15 p.m.
DECISIONS BY THE ANNUAL GENERAL MEETING OF LÄNNEN TEHTAAT PLS
The Annual General Meeting on March 29, 2007 approved the financial statements,
discharged those accountable from liability and decided to distribute a dividend
of EUR 0.84 per share. In addition, the Annual General Meeting authorized the
Board of Directors to decide on issuing new shares and on the sale of the shares
entered in the joint book-entry account.
MATTERS DEALT WITH BY THE ANNUAL GENERAL MEETING
FINANCIAL STATEMENTS
The Annual General Meeting approved the parent company's and the Group's income
statements and balance sheets, and discharged the members of the Board of
Directors, the members of the Supervisory Board and the CEO from liability for
the financial year 2006.
The Annual General Meeting decided to distribute as dividend EUR 0.84 per share.
The dividend record date is April 3, 2007, and the dividend will be paid on
April 12, 2007.
ELECTION OF THE MEMBERS OF THE SUPERVISORY BOARD AND THE AUDITORS
Heikki Halkilahti, Jussi Hantula, Börje Helenelund, Samu Pere and Esa Ruohola
were re-elected to the Supervisroy Board. Heikki Aaltonen, Mikko Kurittu and
Risto Korpela were elected as new members.
Hannu Pellinen, Authorized Public Accountant, and PricewaterCoopers Oy
Authorized Public Accountants with Jari Henttula, Authorized Public Accountant
as responsible auditor, were re-elected as auditors.
The Annual General Meeting decided that the monthly fee paid to the Supervisory
Board's chairman is EUR 350, and to the deputy chairman EUR 300. The meeting
allowance paid to the members of the Supervisory Board is EUR 200. In addition,
daily allowances and compensation for travelling expenses are paid in accordance
with the general travel rules of Lännen Tehtaat. The auditors' fees are paid as
per invoice.
RAISING THE SHARE CAPITAL
The Annual General Meeting authorized the Board of Directors to decide on
issuing new shares in the form of an issue against payment and on surrendering
company shares held by the company in one or more tranches. A maximum total of
631,757 new shares may be issued, and a maximum of 65,000 shares held by the
company may be surrendered. The subscription price for the new shares is a
minimum of their nominal value, i.e. EUR 2.00. The surrender price for the
company shares held by the company is a minimum of the current value at the time
of surrender determined on the basis of the price in public trading on the
Helsinki Stock Exchange. The Board of Directors was authorized to diverge from
the shareholders' pre-emptive subscription right on condition that the company
has a pressing financial reason to do so. The authorization also covers the
right to offer shares not only against money payment but also against capital
consideration in kind or on some other specified conditions or by using the
right of set-off and to decide on the subscription price and other terms and
conditions related to share issues.
The authorization is valid until the next Annual General Meeting. The
authorization repeals the previous share issue authorization given on March 29,
2006 and the authorization given on the same date to surrender the company's own
shares.
SALE OF SHARES IN THE JOINT BOOK-ENTRY ACCOUNT
The Annual General Meeting decided on the sale through public trading of shares
which have been entered in the joint book-entry account opened with the Finnish
Central Securities Depository under chapter 3a, section 3a of the Companies Act
(734/1978) and section 8 of the Implementing Act of the new Companies Act
(624/2006) and for which registration of the ownership right in a book-entry
account has not been demanded in spite of the fact that five years have passed
from the date of the registration date. Shareholders must within one year from a
request based on the decision of the Annual General Meeting demand that their
ownership right be registered or they will forfeit their right to the shares and
only keep the right to the funds obtained from the sale of the shares.
LÄNNEN TEHTAAT PLC
Matti Karppinen
CEO
More details: Matti karppinen, tel. +358 10 402 4001
Distribution:
Helsinki Stock Exchange
Main media
www.lannen.fi