Uponor Corporation Stock exchange release 16 March 2020 16:05 EET
Resolutions by Uponor Corporation’s Annual General Meeting
Uponor Corporation’s Annual General Meeting (AGM) approved the proposed dividend of €0.53 per share for 2019. The existing Board members were re-elected, with the exception of
The AGM adopted the financial statements and the consolidated financial statements for 2019, and released the Board members and the President and CEO from liability.
A dividend of €0.53 per share shall be distributed for the financial period 2019. The dividend shall be paid in two instalments. The first instalment of €0.26 per share shall be paid to a shareholder registered as a shareholder in the shareholder register maintained by
The second instalment of €0.27 per share shall be paid in
Authorisation to repurchase the company’s own shares
The Board of Directors was authorised to resolve on the repurchase of no more than 3,500,000 of the company’s own shares amounting in total to approximately 4.8 per cent of the total number of the shares of the company at the date of the general meeting. These shares will be bought back using distributable earnings from unrestricted equity. The authorisation is valid until the end of the next annual general meeting, however, no longer than 18 months from the date of the general meeting.
Authorisation to resolve on the issuance of shares
The Board of Directors was authorised to resolve on issuing a maximum of 7,200,000 new shares or transferring the company’s own shares, amounting in total to approximately 9.8 per cent of the total number of the shares of the company. The Board of Directors is authorised to resolve on all the conditions of the issuance of shares. This authorisation is valid until the end of the next annual general meeting, however, no longer than 18 months from the date of the general meeting.
Election of Directors and the Auditor
Existing Board members
Board remuneration
The annual remuneration of the Board is as follows: €90,000 for the Chair of the Board, €51,000 for the Deputy Chair of the Board, €51,000 for the Chair of the Audit Committee and €46,000 for other members of the Board. Approximately 40% of the remuneration shall be paid by acquiring Uponor Corporation’s shares in public trading and/or by conveying Uponor Corporation’s shares held by the company and the rest shall be paid in cash or, alternatively, by paying the full remuneration in cash and obligating the Board member to use approximately 40% of the remuneration paid in cash to acquire Uponor Corporation’s shares in public trading. The yearly Board remuneration shall be paid within two weeks after the publication of the company’s half year report for January-
Additionally, a remuneration per each actual board and committee meeting (excluding decisions without a meeting) shall be paid to the members of the Board of Directors amounting to €600 for meetings held at the country of residence of the member, €1,200 for meetings held elsewhere on the same continent, and €2,400 for meetings held on another continent. The remuneration for telephone meetings shall be the remuneration for meetings held at the country of residence of the member. In addition, a remuneration of €600 shall be paid to the Chair of the
Annual General Meeting approved the Remuneration Policy for Governing Bodies.
Further information:
Reetta Härkki
General Counsel
Tel. +358 20 129 2835
Vice President, Communications and Corporate Responsibility
Tel. +358 20 129 2081
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