DECISIONS OF PONSSE PLC'S ANNUAL GENERAL MEETING
PONSSE PLC STOCK EXCHANGE RELEASE 31 MARCH 2010 AT 2:15 PM
DECISIONS OF PONSSE PLC'S ANNUAL GENERAL MEETING
Ponsse Plc's Annual General Meeting was held in Vieremä, Finland today, 31 March
2010.
Financial statements
The AGM approved the parent company financial statements and the consolidated
financial statements, and members of the Board of Directors and the President
and CEO were discharged from liability for the 2009 financial period.
Dividends
The AGM decided to authorise a dividend per share of EUR 0.15 for 2009
(dividends totalling EUR 4,192,815). No dividend will be paid to shares owned by
the company itself (47,900 shares).
The dividend payment record date is 7 April 2010, and the dividends will be paid
on 14 April 2010.
Board of Directors
The number of Board members was confirmed as six (6). Ilkka Kylävainio, Ossi
Saksman, Juha Vidgrén and Einari Vidgrén were re-elected to the Board, and Marja
Liisa Kaario and Heikki Hortling were elected as new Board members. For more
information on the Board members, please visit the Ponsse website at
http://www.ponsse.com/english/investors/corporate_info/board.php. The Board's
period of office will last until the next AGM.
The AGM 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 AGM, Einari Vidgrén was elected Chairman of
the Board and Juha Vidgrén was elected Vice Chairman.
Auditor
PricewaterhouseCoopers Oy, Authorised Public Accountants, were appointed as the
company's auditors, with Sami Posti, Authorised Public Accountant, as the
principal auditor.
Acquisition of treasury shares
The AGM authorised the Board of Directors to decide on the acquisition of the
company's own shares so that a maximum of 250,000 shares can be acquired in one
or more batches. The maximum amount corresponds to approximately 0.89 per cent
of the company's total shares and votes.
The shares will be acquired in public trading organised by NASDAQ OMX Helsinki
Ltd (“the Stock Exchange”). Furthermore, they will be acquired and paid
according to the rules of the Stock Exchange and Euroclear Finland Ltd.
The Board may, pursuant to the authorisation, only decide upon the acquisition
of the Company's own shares using the Company's unrestricted shareholders'
equity.
The authorisation is required for supporting the Company's growth strategy in
the Company's potential business arrangements or other arrangements. In
addition, the shares can be issued to the Company's current shareholders or used
for increasing the ownership value of the Company's shareholders by invalidating
shares after their acquisition, or used in personnel incentive systems. The
authorisation includes the right of the Board to decide upon all other terms and
conditions in the acquisition of own shares.
The authorisation is valid until the next AGM; however, no later than 30 June
2011.
Authorisation of the Board of Directors to decide on share issues by assigning
the Company's own shares or by issuing new shares
The AGM authorised the Board of Directors to decide on the issue of new shares
and the assignment of treasury shares held by the company against payment or
free of charge so that a maximum of 250,000 shares will be issued on the basis
of the authorisation. The maximum amount corresponds to approximately 0.89 per
cent of the company's total shares and votes.
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 proposed for use in supporting the Company's growth
strategy in the Company's potential corporate acquisitions or other
arrangements. In addition, the shares can be issued to the Company's current
shareholders, sold through public trading or used in personnel incentive
systems.
The authorisation is valid until the next AGM; however, no later than 30 June
2011.
Personnel profit bonus
As the operating result in 2009 was negative, the AGM decided not to pay a
profit bonus to Ponsse Plc personnel for 2009.
Minutes of the AGM
The minutes of the AGM will be available for inspection by shareholders at the
Ponsse Plc Customer Service Centre at Ponssentie 22, Vieremä, Finland, as of 31
March 2010.
Vieremä, 31 March 2010
PONSSE PLC
Juho Nummela
President and CEO
Petri Härkönen
CFO
FURTHER INFORMATION
President and CEO Juho Nummela, tel. +358 400 495 690
CFO Petri Härkönen, tel. +358 50 409 8362
DISTRIBUTION
NASDAQ OMX Helsinki Ltd
Principal media
www.ponsse.com
Ponsse Plc specialises in the sales, production, maintenance and technology of
cut-to-length forest machines. Its operations are guided by a genuine interest
in its customers and their business operations. The company develops and
manufactures innovative harvesting solutions that follow the principles of
sustainable development and are based on customer needs.
The company was established by forest machine entrepreneur Einari Vidgrén in
1970, and it has been a pioneer of timber harvesting solutions based on the
cut-to-length method ever since. Ponsse is headquartered in Vieremä, Finland.
The Company's shares are quoted on the NASDAQ OMX Nordic List. The Group
operates in approximately 40 countries.
