ANNUAL GENERAL MEETING 2011
The Annual General Meeting (AGM) decided on March 30, 2011, that the board of directors’ should have four ordinary members. The AGM decided to reelect Bengt Näslund, Mauri Visuri, Teuvo Jurvansuu and Ilkka Tuokko. Mauri Visuri was chosen to be the head of the board of directors. The AGM also decided to reelect the auditing company PWC, with Martin Johansson as the chief auditor, until the end of the Annual General Meeting 2012.
The AGM approved the Board of Directors and the CEO’s proposal for the appropriation of earnings, to have the accumulated losses transferred to a new account. The AGM further dissolved that no dividends shall be paid for 2010. The guidelines for remuneration for the senior management were approved in accordance with the Board of Directors proposal.
The procedure on appointing the members of the Nomination Committee was adopted in accordance with the Board of Directors proposal. The shareholder who, based on shareholders statistic’s from Euroclear Sweden AB, had most shares and votes, shall after a consultation with the three largest owners, appoint a Nomination Committee of three members. If a member leaves the Nomination Committee, or if a considerable change occurs in the shareholding structure after the constitution of the Nomination Committee, it shall also result in a change in the composition of the Nomination Committee.
The AGM approved the Nomination Committee’s proposal for yearly fees to the members of the Board with a total of SEK 450.000.
The AGM decided to adopt new articles of association. The term of office of auditors was amended to one year in accordance with the new rules in the Companies Act.
Stockholm 30th MARCH 2011
Timo Lindborg, CEO
About Sotkamo Silver AB:
Sotkamo Silver AB´s business concept is to exploit mineral deposits in the Nordic countries with regard to human society and environment. Sotkamo Silver owns, through its subsidiary mineral deposits, which contains silver and gold in Finland. The Company’s main development project is the Taivaljärvi Silver Mine.
Sotkamo Silver applies SveMin’s & FinnMin’s respective rules of reporting for public mining & exploration companies. Sotkamo Silver has chosen to report mineral resources and ore reserves according to the internationally accepted JORC or NI 43-101-code. The company applies International Financial Reporting Standards (IFRS) as approved by the European Union.
The shares are traded at the Burgundy market place and NGM Equity in Stockholm. The ticker symbol is SOSI.
ISIN-code for Sotkamo Silver shares is SE0001057910.
ISIN-code for Sotkamo Silver warrants is SE0003299718.
Read more about Sotkamo Silver on www.sotkamosilver.com or www.silver.fi
For further information: Timo Lindborg, CEO, tel. +46-8-30 49 20