Decisions Taken at Glaston Corporation's Annual General Meeting
Glaston Corporation, Stock Exchange Release, March 17,2009 at 18.00 p.m.
Decisions Taken at Glaston Corporation's Annual General Meeting
Glaston Corporation's Annual General Meeting was held today on March 17, 2009 in
Helsinki. The Annual General Meeting approved the financial statements and
consolidated financial statements for 2008 and released the Board of Directors
and the President&CEO from liability for the accounting period January
1-December 31, 2008.
The Annual General Meeting approved a dividend of EUR 0.05 per share, that is, a
total of maximum EUR 4.0 million. The record date for dividend distribution is
March 20, 2009. The dividend payment date is March 27, 2009.
The AGM approved the reappointment of Mr Claus von Bonsdorff, Mr Klaus Cawén, Mr
Carl-Johan Rosenbröijer, Mr Christer Sumelius, Mr Jan Lång and Mr Andreas
Tallberg as members of the Board of Directors for a further term of office
lasting one year. The Annual General Meeting approved that the yearly
remuneration for the members of the Board of Directors shall remain at EUR
40.000 for the Chairman of the Board, EUR 30.000 for the Deputy Chairman of the
Board and EUR 20.000 for other members of the Board.
Public accountants KPMG Oy Ab were reappointed as the company's auditor.
The Annual General Meeting approved that following amendments to the Articles of
Association:
-Section 2 of the Articles of Association be amended by removing energy
production from the field of operation;
-Section 11 of the Articles of Association be amended by notice to the General
Meeting to be delivered no later than 21 days before the General Meeting;
-Section 12 of the Articles of Association be amended by an advance notice of
participation to the Company to be given no later than a given date, not to be
earlier than 10 days before the General Meeting.
The Annual General Meeting authorized the Board of Directors to decide on
repurchase of a maximum of 7,000,000 Company's own shares. The shares may be
acquired to improve the capital structure of the Company and/or to be used as
consideration in future acquisitions or other arrangements that are part of
Company's business or as part of Company's incentive program, or to finance
investments. The shares may be held, cancelled or conveyed by the Company. The
authorization is valid for 18 months from the decision of the Annual General
Meeting.
The Annual General meeting also authorized the Board of Directors to to decide
on the issue of new shares and/or conveyance of Company's own shares held by the
Company. By virtue of the authorization, the Board of Directors is entitled to
decide on the issuance of a maximum of 7,800,000 new shares and on the
conveyance of a maximum of 7,800,000 own shares held by the Company. However the
total number of shares to be issued and/or conveyed may not exceed 7,800,000
shares.
The new shares may be issued and own shares held by the Company conveyed either
against payment or without payment.
The new shares may be issued and/or own shares held by the Company conveyed to
the Company's shareholders in a proportion to their existing shareholdings in
the Company, or by means of a directed share issue, waiving the pre-emptive
subscription right of the shareholders, if there is a weighty reason for the
Company to do so, such as the shares to be used to improve the capital structure
of the Company or as consideration in future acquisitions or other arrangements
that are part of Company's business or as part of Company's incentive program.
The directed share issue can be without payment only, if there is an especially
weighty reason for the Company to do so, taking the interest of all shareholders
into account.
The Board of Directors may decide on the share issue without payment also to the
Company itself.
The number of shares to be issued to the Company combined with the number of
shares acquired to the Company under the share repurchase authorization may not
exceed 1/10 of the total number of shares of the Company.
The subscription price of new shares issued and the consideration paid for the
conveyance of the Company's own shares shall be credited to the reserve for
invested unrestricted equity.
The Board of Directors shall decide on other matters related to the share issue.
The share issue authorization is valid until the end of the Annual General
Meeting to be held in 2011.
For further information, please contact:
Mika Seitovirta, President&CEO
Phone: +358 10 500 500
Sender:
Glaston Corporation
Agneta Selroos
Corporate Communications and IR Manager
Phone: +358 10 500 6105
Glaston Corporation
Glaston Corporation is a growing,international glass technology company. Glaston
is the global market leader in glass processing machines, and a comprehensive
One-Stop-Partner supplier to its customers. Its product range and service
network are the most extensive in the industry. Glaston's well-known brands are
Bavelloni, in pre-processing machines and tools,Tamglass and Uniglass, in safety
glass machines and Albat+Wirsam in software solutions.
Glaston's own glass processing unit, Tamglass Glass Processing, is a
manufacturer of high quality safety glass products operating in Finland.
Glaston's share (GLA1V) is listed on the NASDAQ OMX Helsinki Mid Cap List.
