SUOMINEN CORPORATION STOCK EXCHANGE RELEASE 27 MARCH 2008 AT 6.15 P.M.
ANNUAL GENERAL MEETING OF SUOMINEN CORPORATION AND ORGANISATION OF THE BOARD
The Annual General Meeting of Suominen Corporation approved the financial
statements of the parent company and the Group for the financial year 2007 and
released the members of the Board of Directors and the President and CEO from
liability. The Meeting decided that no dividend be paid for 2005. The Meeting
authorised the Board of Directors to decide on repurchase and conveyance of the
Company's own shares.
The Annual General Meeting of Shareholders was held today on 27 March 2008. The
Meeting was opened by the member of the Board of Directors, Mr. Juhani Lassila,
and chaired by Attorney-at-law, Mr. Jukka Laitasalo.
FINANCIAL STATEMENTS
The Annual General Meeting approved the financial statements of the parent
company and the Group for the financial year 1 January - 31 December 2007 and
released the members of the Board of Directors and the President and CEO from
liability for the period.
DIVIDEND
The Annual General Meeting decided that no dividend be paid for 2007.
THE BOARD OF DIRECTORS AND AUDITORS
The Meeting confirmed the number of members of the Board of Directors six. The
Meeting elected Heikki Bergholm, Kai Hannus, Pekka Laaksonen, Juhani Lassila,
Mikko Maijala and Heikki Mairinoja to the Board of Directors for the next term
of office in accordance with the Articles of Association. The Board of Directors
held an initial meeting after the Annual General Meeting and elected Mikko
Maijala as its Chairman and Pekka Laaksonen as Deputy Chairman.
PricewaterhouseCoopers Oy, Authorised Public Accountants, were re-elected as
auditors for the term expiring at the close of the next Annual General Meeting.
AUTHORISATION OF THE BOARD OF DIRECTORS TO DECIDE ON THE REPURCHASE OF THE
COMPANY'S OWN SHARES
The Annual General Meeting approved the proposal of the Board of Directors to
authorise the Board of Directors to decide on the repurchase of a maximum of
1,186,000 of the Company's own shares. The repurchase authorisation is valid
for 18 months after the decision of the General Meeting.
The shares shall be repurchased for use as consideration in future acquisitions
or other arrangements related to the Company's business, as financing for
investments or as part of the Company's incentive program or to be held by the
Company, to be conveyed by other means or to be cancelled. The Company's own
shares shall be repurchased otherwise than in proportion to the holdings of the
shareholders by using the non-restricted equity through public trading on the
OMX Nordic Exchange Helsinki Oy at the market price prevailing at the time of
acquisition.
AUTHORISATION OF THE BOARD OF DIRECTORS TO DECIDE ON THE CONVEYANCE OF THE
COMPANY'S OWN SHARES
The Annual General Meeting approved the proposal of the Board of Directors to
authorise the Board of Directors to decide on the conveyance of a maximum of
1,222,000 of the Company's own shares held by the Company. The authorisation on
conveying is valid for 18 months after the end of the General Meeting.
The Company's own shares held by the Company may be conveyed either against
payment or for free. The shares may be conveyed to the Company's shareholders in
proportion to their current shareholdings in the Company or waiving the
shareholder's pre-emption right, through a directed share issue if the Company
has a weighty financial reason to do so, such as using the shares as
consideration in future acquisitions or other arrangements related to the
Company's business, as financing investments or as part of the Company's
incentive program.
MINUTES OF THE MEETING
The minutes of the meeting are available to shareholders at the Company's head
office as of 10 April 2008.
Helsinki 27 March 2008
SUOMINEN CORPORATION
Kalle Tanhuanpää
President and CEO
For additional information, please contact
Mr. Kalle Tanhuapää, President and CEO, tel. +358 10 214 300.