Solteq Plc Stock Exchange Bulletin on March 16, 2015 at 1.30 pm
Solteq's Annual General Meeting approved the financial statement for period 1.1.-31.12.2014 and discharged those accountable from liability. The Board of Directors' proposal of to the General Meeting that a dividend of EUR 0.03 per share be paid from the financial year ended on 31.12.2014 was accepted. The dividend will be paid to shareholders who on the record date of 18.3.2015 are registered as shareholders in the Company's shareholders' register held by Euroclear Finland Oy. The dividend is paid on 25.3.2015.
In addition, the Board of Directors propose to the Annual General Meeting that the Board is authorized in accordance with the Finnish Companies Act 13 chapter 6§ 2 paragraph to decide on a maximum dividend of 0.05 euros per share or other distribution of funds from the distributable equity fund as well as to decide upon the timing of the distribution and other details was accepted. The authorization is valid until the beginning of the next Annual General Meeting.
The Annual General Meeting decided that the Board of Directors includes seven members. The board members will be paid 15.000 euros per year and the Chairman of the Board 4.000 euros per month in cash. In addition to this all members of the Board of Directors will have share incentive of 5.000 company’s shares. Travelling expenses are paid according to the travel guidance of the company.
Re-elected as Members of the Board were Ali U. Saadetdin, Seppo Aalto, Markku Pietilä, Matti Roininen, Sirpa Sara-aho, Jukka Sonninen and Olli Välimäki.
In addition, the Annual General Meeting approved the following proposals by the Board (Stock Exchange Release February 13, 2015).
Decided to authorize the Board of Directors to decide on the purchase of the Company's own shares to improve the capital structure, to be used as a part of remuneration of personnel, to finance and execute business acquisitions and other business arrangements or to be further transferred or cancelled. The proposal includes authorization to take company’s own shares as a pledge. According to the proposal, the total number of the shares purchased shall not exceed 10 percent of all shares of the Company and they can be purchased otherwise than in proportion to the shareholdings of the shareholders. The shares shall be purchased at a price formed in public trading. The authorization includes that the Board of Directors may decide the terms and other matters concerning the purchase of own shares. The authorizations are effective until the next Annual General Meeting.
Decided to authorize the Board of Directors to give new shares or convey company’s own shares. The authorization would be executed by one or more share issues, maximum total amount being 5.000.000 shares. The authorization includes a right to deviate from the shareholders’ pre-emptive right of subscription. The authorization includes that the Board of Directors may decide the terms and other matters concerning the share issue. The authorization is effective until the next Annual General Meeting.
In the Board meeting, held after the Annual General Meeting, Ali U. Saadetdin was elected as the Chairman of the Board.
For further information please contact:
Ali U. Saadetdin, Chairman of the Board
Tel +358 20 1444 201 or +358 40 8444 201
Repe Harmanen, CEO
Tel +358 400 467717
NASDAQ OMX Helsinki