Decisions made by metsä Tissue's annual general meeting
DECISIONS MADE BY METSÄ TISSUE'S ANNUAL GENERAL MEETING Metsä Tissue Corporation's Annual General Meeting, held on 23 March 2000, adopted the profit and loss account and balance sheet for 1999 and granted freedom from responsibility to the members of the Board of Directors and the Managing Director. The meeting approved the payment of a dividend of FIM 0.70 (EUR 0.12) per share for the 1999 financial period, which represents about 100 per cent of the earnings per share. The record date for dividend purposes is 28 March 2000 and the payment date is 4 April 2000. The Annual General Meeting approved the Board's proposal to convert the company's share capital and the nominal value of its share into euros. So that the nominal value of the share is exact to one-tenth of a euro (EUR 1.70), the meeting decided that the company's share capital will be raised by FIM 3,232,230 by transferring this amount from the company's share premium account. The meeting also decided that those sections of the Articles of Association relating to the share capital and the nominal value of the company's share be amended to read that (Article 4) the company's minimum share capital shall be EUR 50,456,378 and its maximum share capital EUR 201,825,512, and that (Article 5) the nominal value of the company's share shall be one euro and seventy cents (EUR 1.70). Following the proposed increase in share capital, the company's new share capital will be EUR 51,000,000. The meeting decided that the Board of Directors will have seven members. The following members of the Board of Directors were re-elected: Ari Heiniö, Managing Director of Stockmann Plc; Curt Lindbom, Chairman of the Board of Cumasa Oy; Jussi Länsiö, Managing Director of Hartwall Plc; Antti Oksanen, President and CEO of the Metsäliitto Group; Arimo Uusitalo, Chairman of the Board of Metsäliitto Osuuskunta; Jorma Vaajoki, President and CEO of Metsä-Serla Corporation; and Juhani Saarela, Executive Vice President of Metsä-Serla Corporation. The term of office of the members of the Board of Directors continues until the end of the 2001 Annual General Meeting. SVH Pricewaterhouse Coopers Oy (Authorized Public Accountants) were elected to act as the company's auditors. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/03/23/20000323BIT00760/bit0001.doc http://www.bit.se/bitonline/2000/03/23/20000323BIT00760/bit0002.pdf