Resolutions by the Annual General Meeting of Componenta

The Annual General Meeting of Componenta Corporation, held on 28 February 2011, approved the annual accounts for the financial period from 1 January to 31 December 2010, as well as discharged the members of the Board of Directors and the CEO from liability. In accordance with the proposal of the Board of Directors, the Annual General Meeting resolved that no dividend shall be distributed for the financial period from 1 January to 31 December 2010.

The Annual General Meeting decided to re-elect the current members of the Board of Directors Heikki Bergholm, Pii Kotilainen, Heikki Lehtonen, Juhani Mäkinen, Marjo Miettinen and Matti Tikkakoski. In its organization meeting held after the Annual General Meeting, the Board of Directors elected Heikki Bergholm as Chairman of the Board and Juhani Mäkinen as Vice Chairman of the Board. The Annual General Meeting resolved that the yearly remuneration payable to the Chairman of the Board shall be 50,000 euro, the remuneration payable to other members of the Board of Directors shall be 25,000 euro and the travel expenses shall be compensated in accordance with the company’s travel rules.

The Annual General Meeting elected Authorized Public Accounting firm, PricewaterhouseCoopers Oy, as the company’s auditor.

The Annual General Meeting resolved to authorize the Board of Directors, in accordance with its proposal, to resolve on the repurchase of a maximum of 1,700,000 own shares, in one or several instalments, using the unrestricted shareholders’ equity of the company. The shares shall be repurchased otherwise than in proportion to the holdings of the shareholders through public trading organized by NASDAQ OMX Helsinki Ltd at market price prevailing at the moment of repurchase. The authorization is in force for a period of 18 months from the resolution by the Annual General Meeting. The authorization cancels the authorization to resolve on the repurchase of own shares given to the Board of Directors by the Annual General Meeting on 10 March 2010.

The Annual General Meeting also authorized the Board of Directors to resolve, during year 2011, on the donation of a maximum of 300,000 euro altogether to Aalto University and to Tampere University of Technology on terms and conditions as decided by the Board of Directors.

Helsinki, 28 February 2011

COMPONENTA CORPORATION

Heikki Lehtonen
President and CEO

Further information:

Heikki Lehtonen
President and CEO
tel. +358 10 403 00                   

Mika Hassinen
CFO 
tel. +358 10 403 00

 

Componenta is a metal sector company with international operations and production plants located in Finland, Turkey, the Netherlands and Sweden. The net sales of Componenta were EUR 452 million in 2010. The Group employs approx. 4,400 people. Componenta's shares are quoted on the NASDAQ OMX Helsinki. Componenta specializes in supplying cast and machined components and total solutions made of them to its global customers who are manufacturers of vehicles, machines and equipment. 

 Componenta Corporation
Panuntie 4
FI-00610 Helsinki,  Finland
Tel. +358 10 403 00
Fax +358 10 403 2721
www.componenta.com