Annual General Meeting 2014 of Sanitec Corporation
The Annual General Meeting of Sanitec Corporation was held today Tuesday 13May 2014, in Stockholm, Sweden.
Distributions of funds
The annual general meeting adopted the financial statements and consolidated financial statements for the financial period from 1 January to 31 December 2013. The meeting resolved in accordance with the proposal of the Board of Directors to leave the profit for the period in the shareholders’ equity and to distribute EUR 0.22 per share from the reserve for invested unrestricted equity to the shareholders. The record date for the distribution was set to be Friday 16 May 2014, and the payments will be made on Tuesday 3 June 2014 to shareholders registered with Euroclear Finland Oy and on or about Wednesday 4 June 2014 to shareholders registered with Euroclear Sweden AB. The last day of trading of the Sanitec share on Nasdaq OMX Stockholm including right to the distribution, is Tuesday 13 May 2014.
Discharge from liability
The meeting discharged the members of the Board and the President & CEO from liability for the financial period from 1 January to 31 December 2013.
Board of Directors
The meeting resolved that the Board of Directors shall comprise of eight members and elected Joakim Rubin as a new member and re-elected Fredrik Cappelen, Adrian Barden, Johan Bygge, Caspar Callerström, Margareta Lehmann, Pekka Lettijeff and Ulf Mattsson as the members and Fredrik Cappelen as the Chairman of the Board of Directors. The meeting resolved on directors’ remuneration in accordance with the proposal of the largest shareholder of the company.
Auditor
The meeting resolved to appoint the accounting firm KPMG Oy Ab as the company’s auditor for the period until the close of the Annual General Meeting 2015. KPMG Oy Ab had informed that authorised public accountant Virpi Halonen will continue as auditor in charge.
Nomination Committee
The meeting resolved that Sanitec should have a Nomination Committee consisting of the Chairman of the Board of Directors and one representative for each of the four largest shareholders in terms of number of votes as at the last day of August. The names of the four shareholder representatives and the names of the shareholders whom they represent shall be made public as soon as they have been appointed, but no later than six months before the Annual General Meeting 2015.
Guidelines for remuneration to senior executives
The meeting resolved guidelines for remuneration to senior executives in accordance with the proposal from the Board of Directors.
Articles of association
The meeting resolved to amend the language of the articles of association of the company from Finnish into Swedish. Upon registration of the new articles, the name of the company will be in Swedish Sanitec Abp, in Finnish Sanitec Oyj and in English Sanitec Corporation.
Performance Share Plan 2014
The meeting resolved, in accordance with the proposal from the Board of Directors, to introduce a share based incentive plan. A maximum of 340,000 shares in Sanitec may be allocated under Performance Share Plan 2014, representing 0.34 percent of the outstanding shares and votes in Sanitec Corporation. In connection with the share based incentive plan, and within limits thereof, the meeting authorised the Board of Directors to resolve on directed acquisition and transfer of own shares in one or several occasion(s). The authorisations shall stay in force until 30 June 2015 and 12 May 2018, respectively.
The President & CEO’s presentation from the meeting will be published at www.sanitec.com.
For additional information, please contact:
Niklas Alm
Head of Investor Relations
ir@sanitec.com
mob. 46 76 855 7836
Noora Koikkalainen
Head of Corporate Communications
sanitec.corporation@sanitec.com
tel. 358 10 662 5426
About Sanitec – “Home of the Bathroom”
Sanitec is the leader in bathroom ceramics in Europe. We have a unique portfolio of some of the most well-known brands with deep roots in the European fixtures markets, strategically positioned to address local markets. We care passionately about people’s needs when it comes to complete bathroom concepts, providing products that stand for guaranteed quality, high level of innovation and attractive design. Stable relationships with key stakeholders in the value chain and our unique brand strengths foster our leading position as well as the loyalty and trust amongst our customers, our network of installers and the end users of our products.
Sanitec operates an integrated European group with an unparalleled local presence to provide the best value when it comes to bathroom products. In 2013 net sales amounted to EUR 702 million. Our production network includes 18 production facilities throughout Europe and currently Sanitec employs approximately 6,200 people. Our head office is located in Helsinki, Finland. The shares in Sanitec Corporation are traded on NASDAQ OMX Stockholm under the symbol “SNTC”.
For more information about Sanitec, please visit www.sanitec.com.