Stock exchange release
Free for publication on
Decisions of the Annual General Meeting of
Bittium's Annual General Meeting was held on
The Annual General Meeting adopted the financial statements for the financial year 2020, discharged the company's management from liability and resolved to support the remuneration report for governing bodies.
Resolution on the Use of the Profit Shown on the Balance Sheet and Distribution of Dividend
Based on the shareholder vote concerning minority dividend, the Annual General Meeting decided in deviation from the proposal of the Board of Directors that a minority dividend corresponding to half of the profit for the financial period shall be paid in accordance with Chapter 13, Section 7 of the Companies Act. The Board of Directors of the company had proposed to the Annual General Meeting that no dividend be distributed by the Annual General Meeting based on the adopted balance sheet for the financial period of
The dividend shall be paid to shareholders who on the dividend record date
Election and Remuneration of the Members of the Board of Directors
The Annual General Meeting decided that the Board of Directors shall comprise five (5) members. Mr. Erkki Veikkolainen, Ms.
At its assembly meeting held on
The Annual General Meeting resolved that the following monthly remuneration shall be paid to the members of the Board of Directors: to the chairman of the Board of Directors
Election and Remuneration of the Auditor
Authorizing the Board of Directors to Decide on the Repurchase of the Company's Own Shares
The Annual General Meeting authorized the Board of Directors to decide on the repurchase of the Company's own shares as follows.
The number of own shares to be repurchased shall not exceed 3,500,000 shares, which corresponds to approximately 9.80 percent of all of the shares in the company as at the date of the Annual General Meeting. Only the unrestricted equity of the company can be used to repurchase own shares on the basis of the authorization.
Own shares can be repurchased at a price formed in public trading on the date of the repurchase or otherwise at a price formed on the market.
The Board of Directors decides how own shares will be repurchased. Own shares can be repurchased using, inter alia, derivatives. Own shares can be repurchased otherwise than in proportion to the shareholdings of the shareholders (directed repurchase).
The authorization cancels the authorization given by the Annual General Meeting on
The authorization is effective until
Authorizing the Board of Directors to Decide on the issuance of Shares as well as the Issuance of Special Rights Entitling to Shares
The Annual General Meeting authorized the Board of Directors to decide on the issuance of shares and special rights entitling to shares referred to in Chapter 10 Section 1 of the Companies Act as follows.
The number of shares to be issued shall not exceed 3,500,000 shares, which corresponds to approximately 9.80 percent of all of the shares in the company as at the date of the Annual General Meeting.
The Board of Directors decides on all the conditions of the issuance of shares and of special rights entitling to shares. The authorization concerns both the issuance of new shares as well as the transfer of treasury shares. The issuance of shares and of special rights entitling to shares may be carried out in deviation from the shareholders' pre-emptive rights (directed issue).
The authorization cancels the authorization given by the General Meeting on
The authorization is effective until
Oulu,
The Board of Directors
Further information
CEO
Tel. +358 40 344 3507
Chief Legal Officer
Tel. +358 40 344 5258
Distribution
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Bittium
Bittium specializes in the development of reliable, secure communications and connectivity solutions leveraging its over 35-year legacy of expertise in advanced radio communication technologies. Bittium provides innovative products and services, customized solutions based on its product platforms and R&D services. Complementing its communications and connectivity solutions, Bittium offers proven information security solutions for mobile devices and portable computers. Bittium also provides healthcare technology products and services for biosignal measuring in the areas of cardiology, neurology, rehabilitation, occupational health and sports medicine. Net sales in 2020 were
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