Stora Enso’s Annual General Meeting and decisions by the Board of Directors

STORA ENSO OYJ STOCK EXCHANGE RELEASE 27 April 2017 at 19.30 EEST

Stora Enso’s Annual General Meeting (AGM) on 27 April 2017 adopted the accounts for 2016 and granted the Company’s Board of Directors and Chief Executive Officer discharge from liability for the period.

Resolution on the use of the profit shown on the balance sheet and the payment of dividend

The AGM approved the proposal by the Board of Directors that the Company distributes a dividend of EUR 0.37 per share for the year 2016.

The dividend shall be paid to shareholders who on the record date of the dividend payment, 2 May 2017, are recorded in the shareholders’ register maintained by Euroclear Finland Oy or in the separate register of shareholders maintained by Euroclear Sweden AB for Euroclear Sweden registered shares. Dividends payable for Euroclear Sweden registered shares will be forwarded by Euroclear Sweden AB and paid in Swedish crown. Dividends payable to ADR holders will be forwarded by Citibank N.A. (Citi) and paid in US dollars.

The AGM approved the proposal by the Board of Directors that the dividend be paid on or about 9 May 2017.

Members of the Board of Directors

The AGM approved the proposal that of the current members of the Board of Directors – Anne Brunila, Jorma Eloranta, Elisabeth Fleuriot, Hock Goh, Mikael Mäkinen, Richard Nilsson, and Hans Stråberg – be re-elected members of the Board of Directors until the end of the following AGM and that Christiane Kuehne and Göran Sandberg be elected new members of the Board of Directors for the same term of office.

Remuneration

The AGM approved the proposed annual remuneration for the Board of Directors as follows: 

The AGM also approved the proposal that the members of the Board of Directors use 40% of the above mentioned annual remuneration for purchasing Stora Enso R shares from the market and that the purchases will be carried out within two weeks from the AGM.

The AGM approved the proposed annual remuneration for the Board committees as follows:

Financial and Audit Committee

                                                                
Remuneration Committee

Sustainability and Ethics Committee

Auditor

The AGM approved the proposal that the current auditor Authorised Public Accountants Deloitte & Touche Oy shall be re-elected auditor of the Company until the end of the following AGM. The AGM approved a proposal that remuneration for the auditor shall be paid according to invoice approved by Financial and Audit Committee.

Amendment of the Articles of Association  

The AGM approved the proposal to amend the Company’s Articles of Association so that the shareholders’ meeting shall decide on the election of Chairman and Vice Chairman of the Board of Directors, with the exception of a vacancy during the term of office, in which case the Board of Directors shall have the right to elect a new Chairman or Vice Chairman from among its members for the remaining term of office. It was also approved to allow for the notice to the shareholders’ meetings to be published on the Company’s website in addition to which details on the date and location of the meeting, together with the address of the Company’s website be published in at least two Finnish and two Swedish newspapers, and to amend the terminology to that the reference to “Authorised Public Accountants approved by the Finnish Central Chamber of Commerce” be changed to “Authorised Public Accountants”.

Amendment of the Charter of the Shareholders’ Nomination Board

The AGM approved the proposal to amend the Charter of the Shareholders’ Nomination Board so that the Shareholders’ Nomination Board shall prepare and present to the shareholders’ meeting a proposal regarding the Chairman and Vice Chairman of the Board of Directors in connection with its proposal regarding the members of the Board of Directors.

Decisions by the Board of Directors

At its meeting held after the AGM, the Stora Enso Board of Directors elected from among its members Jorma Eloranta as its Chairman and Hans Stråberg as Vice Chairman.

Richard Nilsson (chairman), Jorma Eloranta, Mikael Mäkinen and Christiane Kuehne were elected as members of the Financial and Audit Committee.

Jorma Eloranta (chairman), Elisabeth Fleuriot and Hans Stråberg were elected as members of the Remuneration Committee.

Anne Brunila (chairman), Hock Goh and Göran Sandberg were elected as members of the Sustainability and Ethics Committee.

Composition of the Shareholders’ Nomination Board  

Vice Chairman of the Board of Directors Hans Stråberg will start as a new member of the Shareholders’ Nomination Board with the position ending for former Chairman of the Board of Directors Gunnar Brock.

               For further information, please contact:
Ulla Paajanen-Sainio, SVP, Investor Relations, tel. +358 40 763 8767 

Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wooden constructions and paper on global markets. Our aim is to replace fossil-based materials by innovating and developing new products and services based on wood and other renewable materials. We employ some 25 000 people in more than 35 countries, and our sales in 2016 were EUR 9.8 billion. Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and Nasdaq Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY). storaenso.com 

STORA ENSO OYJ 

For further information, please contact:
Ulla Paajanen-Sainio
SVP, Investor Relations
tel. +358 40 763 8767