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PROPOSALS OF THE BOARD OF DIRECTORS TO THE ANNUAL GENERAL MEETING OF LÄNNEN TEHTAAT PLC

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LÄNNEN TEHTAAT PLC     Stock Exchange Release   17 February 2011 at 8.30 a.m.

                   

PROPOSALS OF THE BOARD OF DIRECTORS TO THE ANNUAL GENERAL MEETING OF LÄNNEN TEHTAAT PLC

  

I DIVIDEND

 

The Board of Directors proposes to the Annual General Meeting that a dividend of EUR 0.90 per share be paid on the financial year 2010.

  

II ELECTION OF THE AUDITOR AND FEES

 

The Board of Directors' proposes that the auditor's fee be reimbursed according to invoice approved by the company.

 

The Board of Directors proposes that Hannu Pellinen, APA, and PricewaterhouseCoopers Oy Authorized Public Accountants with Tomi Moisio, APA, CPFA as responsible auditor, be re-elected as the auditors to the close of the following Annual General Meeting.

  

III AUTHORIZATION FOR SHARE ISSUE AND FOR TRANSFER OF LÄNNEN TEHTAAT SHARES

 

The Board of Directors proposes that it be given authorization by the AGM to decide on the issuing of new shares and on the transfer of Lännen Tehtaat shares held by the company in one or more lots in a share issue, to a total of no more than 761,757 shares. The maximum number of new shares that can be issued is 631,757. The share issue authorization covers all the Lännen Tehtaat shares held by the company on the date of the Board proposal (130,000 shares). The subscription price for each of the new shares must be at least the nominal share value of EUR 2. The transfer price for Lännen Tehtaat shares held by the company must be at least the current value of the share at the time of transfer, which is determined by the price quoted in public trading on the NASDAX OMX Helsinki Ltd. However, in the case of share-based incentive systems, shares can be issued without remuneration.

 

The authorization includes the right

 

- to deviate from the shareholders’ pre-emptive subscription right (targeted issue) if the company has a substantial financial reason to do so, such as development of the company’s capital structure, financing and implementing corporate acquisitions or other arrangements, or implementing a share-based incentive system;

- to offer shares not only against money payment but also against capital consideration in kind or under other specified terms or by exercising right of set-off;

- to decide on the subscription price of shares and other conditions of and matters related to the share issue.

 

The authorization is valid until the next AGM. The authorization will revoke the earlier authorization to issue shares, given on 30 March 2010, and the authorization to transfer Lännen Tehtaat shares held by the company given on the same date.

  

 

LÄNNEN TEHTAAT PLC

Board of Directors

 

For more information, CEO Matti Karppinen, tel. +358 40 8448 692

 

Distribution:
NASDAQ OMX Helsinki Ltd
Main media

www.lannen.fi
 

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