English

RESOLUTIONS OF THE ANNUAL GENERAL MEETING OF BIOHIT OYJ

Report this content 
BIOHIT OYJ    STOCK EXCHANGE RELEASE    21 APRIL 2006


RESOLUTIONS OF THE ANNUAL GENERAL MEETING OF BIOHIT OYJ

The Annual General Meeting (AGM) of Biohit Oyj held on 20 April
2006 approved the financial statements of the Biohit Group and the
parent company, and discharged the members of the Board of
Directors and the president and CEO from liability for the
financial year 2005.

Distribution of dividends and use of the share premium fund

In accordance with the proposal by the Board of Directors the AGM
decided that no dividends be paid for the financial year 2005, and
that the loss of EUR 612,688.29 be transferred to the retained
profit and loss account.

Additionally, the AGM decided in accordance with the proposal by
the Board of Directors upon a decrease of the share premium fund
with a total of EUR 12,842,314.81. EUR 612,688.29 will be used for
the direct covering of a loss shown on an adopted balance sheet,
and EUR 12,229,626.52 will be transferred to a fund included in
the company’s non-restricted equity.

The total amount of restricted shareholders’ equity after the
decrease will be EUR 2,199,396.59 and the total amount of the non-
restricted shareholders’ equity will be EUR 12,229,626.52. The
decrease will not have an effect on the total amount of the
shareholders’ equity. No company’s shares will be annulled or
redeemed in connection with the decrease of the share premium
fund.

As far as the amount to be transferred to the fund included in the
non-restricted equity is concerned, the decrease of the share
premium fund is subject to the approval by the National Board of
Patents and Registration of Finland, in accordance with Chapter 6
Section 5 in the Companies Act.

By reducing the share premium fund, the company seeks to improve
both its credibility on the stock exchange and its viability on
the capital markets by improving the company's ability to pay
dividends in the future. In addition, the purpose of the decrease
is to prepare for the proposed reform of the Companies Act,
pursuant to which the current concept of share premium fund will
no longer exist.

Members of the Board of Directors

The AGM decided that the number of members of the Board of
Directors is six (6). Furthermore, the AGM elected Professor Reijo
Luostarinen, Professor Mårten Wikström, LLM Peter Tchernych,
Professor Osmo Suovaniemi, PhD Tero J. Kauppinen and PhD Peter B.
Coggins as members of the Board until the end of the next AGM.

Moreover, the AGM decided that the chairman of the Board of
Directors would be paid a monthly fee of EUR 1,550 and the
ordinary members would be paid a monthly fee of EUR 1,200.

Auditors

The AGM re-elected authorized public accountants
PricewaterhouseCoopers Oy as the company’s auditors until the end
of the next AGM. Additionally, the AGM decided that the auditors
are to be paid on basis of the invoice issued.

All decisions were made unanimously. The minutes of the AGM are
available for review by shareholders as of 21 April 2006 at the
corporate headquarters of Biohit; address Laippatie 1, 00880
Helsinki.

Board of Directors of Biohit Oyj

Additional information:

Osmo Suovaniemi, M.D., Ph.D., Professor
President & CEO
Tel: +358-9-773 861
GSM: +358-40-745 5605
Email: osmo.suovaniemi@biohit.com

Distribution:

Helsinki Exchanges
Financial Supervisory Authority
Press
http://www.biohit.com

Subscribe