Decisions of Ponsse Oyj's Annual General Meeting
PONSSE OYJ STOCK EXCHANGE RELEASE 29 April 2008, 3:00 P.M.
Ponsse Oyj's Annual General Meeting was held in Vieremä today, 29 April 2008. Financial statements The parent company's and the Group's financial statements were approved by the Board of Directors, and the Board members and the President and CEO were discharged from liability for 2007. Dividend A decision was made to distribute a dividend of EUR 0.50 per share to shareholders for the financial period that ended on 31.12.07. The record date is 5 May 2008 and the dividend payment date is 12 May 2008. Board of Directors The number of Board members was confirmed as six (6). Maarit Aarni-Sirviö, Nils Hagman, Ilkka Kylävainio, Seppo Remes, Juha Vidgrén and Einari Vidgrén were elected Board members until the end of the next Annual General Meeting. The Annual General Meeting confirmed the annual remuneration payable to the Chairman of the Board as EUR 43,000, and the remuneration payable to other members as EUR 32,000. At a Board meeting held after the Annual General Meeting, Einari Vidgrén was elected Chairman of the Board and Juha Vidgrén was elected Vice Chairman. Auditor Ernst & Young Oy, Authorised Public Accountants, were appointed the company auditors with Eero Huusko, Authorised Public Accountant, as the principal auditor. Amendment to the Articles of Association The Annual General Meeting approved the amendment of Article 6 (the right to represent the company) of the Articles of Association. Acquisition of treasury shares The Annual General Meeting authorised the Board of Directors to decide on the acquisition of treasury shares as follows: - A maximum of 250,000 treasury shares may be acquired using the company's unrestricted equity deviating from the shareholders' pre-emptive right. -The shares shall be acquired in public trading on the OMX Nordic Exchange Helsinki at a price commanded by the shares in public trading at the time of the transaction. The authorisation is valid until the next Annual General Meeting; however, no later than 30 June 2009. The Annual General Meeting authorised the Board of Directors to decide on the assignment of treasury shares as follows: -The Board of Directors can, in line with the authorisation, decide on assigning the company's treasury shares so that the maximum number of shares assigned under the authorisation is 300,000. -The authorisation includes the right to assign treasury shares in the company's possession in one or more instalments. - The authorisation may be used in the company's potential corporate acquisitions or other arrangements. In addition, the shares can be relinquished to the company's existing shareholders, sold in public trading, used for developing the company's equity structure or as part of the implementation of an incentive scheme in the company and/or its subsidiaries. - The authorisation includes the right of the Board to decide upon all other terms and conditions of the share issue. Thus, the authorisation includes a right to organise a directed issue in deviation of the shareholders' subscription rights under the provisions prescribed by law. - The authorisation is valid until the next Annual General Meeting; however, no later than 30 June 2009. Personnel profit bonus A decision was made to pay a profit bonus to Ponsse Oyj personnel for 2007. The bonus is EUR 90 for each complete working month. Minutes of the meeting The minutes of the meeting will be available for inspection by shareholders at Ponsse Oyj's customer service centre at Ponssentie 22, FI-74200 Vieremä, Finland, from 6 May 2008. PONSSE OYJ Arto Tiitinen President and CEO Further information: Mikko Paananen, CFO Tel: +358 20 768 8648, mobile +358 400 817 036 E-mail: mikko.paananen@ponsse.com DISTRIBUTION OMX Nordic Exchange Helsinki Principal media www.ponsse.com