Tikkurila Oyj, Stock Exchange Release, June 9, 2020 at
The AGM decided on the payment of dividend, the composition of the Board of Directors and their remuneration, the election of the auditor and its remuneration, authorized the Board of Directors to decide on the repurchase of the Company's own shares as well as authorized the Board of Directors to decide on the issuance of shares..
Dividend
The AGM decided on a dividend of a maximum amount of
Half of the proposed maximum dividend, i.e.
In addition, the AGM authorized the Board of Directors to decide, in its discretion, on a dividend payment of a maximum of
The Company will publish the possible Board of Directors' decisions on a dividend payment, and simultaneously confirm the dividend record and payment date.
Remuneration for the members of the Board of Directors
The Annual General Meeting decided that the annual remuneration of the members of the Board of Directors will stay at the current level. The annual remuneration to the members of the Board of Directors will be as follows:
Members of the Board of Directors
The Annual General Meeting decided that the Board of Directors consists of seven members.
Furthermore,
All members of the Board are independent of the company and, except for
Election of the auditor and their remuneration
Authorised public accountants
Auditors' fees shall be paid against invoices approved by the Company.
Authorization to repurchase own shares and to decide on the issuance of shares
The Annual General Meeting authorized the Board of Directors to decide upon the repurchase of a maximum of 4,400,000 company's own shares. The shares may be repurchased to be used for financing or implementing possible mergers and acquisitions, developing the company's equity structure, improving the liquidity of the company's shares or to be used for the payment of the annual fees payable to the members of the Board of Directors or for implementing the share-based incentive programs of the company. The repurchase authorization will be valid until the end of the next Annual General Meeting, however, no longer than until
The Annual General Meeting authorized the Board of Directors to decide to transfer company's own shares held by the company or to issue new shares limited to a maximum of 4,400,000 shares. The company's own shares held by the company may be transferred and the new shares may be issued either against payment or without payment. The new shares may be issued and the company's own shares held by the company may be transferred to the company's shareholders in proportion to their current shareholdings in the company or in deviation from the shareholders' pre-emptive right through a directed share issue, if the company has a weighty financial reason to do so, such as financing or implementing mergers and acquisitions, developing the company's equity structure, improving the liquidity of the company's shares, settling the payment of the annual fees payable to the members of the Board of Directors or implementing the share-based incentive programs of the company. The authorization will be valid until the end of the next Annual General Meeting, however, no longer than until
The minutes of the Annual General Meeting
The minutes of the Annual General Meeting will be available on
Composition of the committees of
At the constitutive meeting of the Board of Directors held subsequent to the Annual General Meeting, members of the Audit Committee and the Remuneration Committee were elected from among the Board members.
Jari Paasikivi was elected as the Chair of the Remuneration Committee and
CEO
For further information, please contact:
Sustainable Nordicness
www.tikkurilagroup.com (https://na01.safelinks.protection.outlook.com/?url=http://www.tikkurilagroup.com&data=02|01|Patrik.Pihlman@cision.com|a57b7350421d4369783908d5a5065d66|887bf9ee3c824b88bcb280d5e169b99b|1|0|636596369154901028&sdata=e0YwHsnSb0faQH3ttp/3mYoiFcmgRr08Vthl/6dqvYs=&reserved=0)
https://news.cision.com/tikkurila/r/tikkurila--decisions-of-the-annual-general-meeting-and-the-constitutive-meeting-of-board-of-director,c3130644
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