Resolutions passed at the Extraordinary General Meeting of YIT Corporation
YIT Corporation Stock exchange release 6 October 2022 at 4:00 p.m.
Resolutions passed at the Extraordinary General Meeting of YIT Corporation
The Extraordinary General Meeting of YIT Corporation was held today, 6 October 2022, at Messukeskus in Helsinki. The Extraordinary General Meeting decided on amendments to the Company’s Articles of Association and on the composition of the Board of Directors in accordance with the proposals of the Board of Directors.
Amendments to the Articles of Association
The General Meeting resolved to amend section 4 of YIT Corporation’s Articles of Association in accordance with the proposal of the Board of Directors to increase the maximum number of Board members by one so that the Board of Directors shall consist of a Chairman and Vice Chairman appointed by the general meeting of shareholders as well as a minimum of three (3) and maximum of eight (8) members.
The General Meeting also resolved to amend section 8 of the Articles of Association in accordance with the proposal of the Board of Directors so that the Board of Directors may decide to hold a general meeting in Espoo or Vantaa in addition to the Company’s registered office or completely without a meeting venue whereby the shareholders shall exercise their power of decision in full in real time during the meeting by the use of telecommunication connections and technical means.
Composition and remuneration of the Board of Directors
It was resolved to elect two (2) new members to the Company’s Board of Directors so that the Board shall consist of the Chairman and the Vice Chairman as well as eight (8) ordinary members. New members Sami Laine and Keith Silverang were elected to the Board of Directors for a term ending at the close of the next Annual General Meeting. The resolutions on the number of members of the Board of Directors and the election of Sami Laine are conditional upon registering the amendment to section 4 of the Articles of Association with the Trade Register.
Chairman Harri-Pekka Kaukonen, Vice Chairman Eero Heliövaara and members Frank Hyldmar, Olli-Petteri Lehtinen, Barbara Topolska, Casimir Lindholm, Jyri Luomakoski and Kerttu Tuomas continue in the Board of Directors.
It was resolved that the remuneration payable to the new members of the Board of Directors shall be paid in accordance with the resolution of the Annual General Meeting on 17 March 2022 in proportion to the length of their term. To the extent that remuneration is paid in YIT Corporation shares, the shares shall be purchased within two weeks of the publication of the interim report for the period 1 January – 30 September 2022.
Other information
On 6 October 2022, the total number of YIT shares is 211,099,853 and YIT holds 1,588,707 of its own shares.
The minutes of the General Meeting will be available on the Internet at the Company’s website www.yitgroup.com by 20 October 2022 at the latest.
For further information:
Juha Jauhiainen, Corporate General Counsel, YIT Corporation, tel. +358 40 725 9643, juha.jauhiainen@yit.fi
YIT Corporation
Tuomas Mäkipeska
CFO
Distribution: Nasdaq Helsinki, major media, www.yitgroup.com
YIT is the largest Finnish and a significant North European development and construction company. For 110 years, we have been creating better living environments for our customers: functional homes for sustainable living, future-proof public and commercial buildings and infrastructure for smoother flow of people, businesses and society. We employ 5,500 professionals in nine countries: Finland, Sweden, Norway, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia and Poland. Our revenue in 2021 was EUR 2.7 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com