Resolutions of Olvi Plc’s Annual General Meeting

OLVI PLC       STOCK EXCHANGE RELEASE 8 APRIL 2020
 

RESOLUTIONS OF OLVI PLC’S ANNUAL GENERAL MEETING

Olvi plc’s Annual General Meeting of 8 April 2020 adopted the financial statements and granted discharge from liability to the members of the Board of Directors and Managing Director for the accounting period that ended on 31 December 2019.

PAYMENT OF DIVIDENDS

In accordance with the Board’s proposal, the General Meeting decided that a dividend of 1.00 (0.90) euro be paid on each A and K share for the accounting period 2019, totalling 20.7 (18.6) million euro. The dividend represents 49.6 (45.7) percent of Olvi Group’s earnings per share.

The dividends will be paid in two instalments. The first instalment of 0.50 euro per share will be paid on 8 May 2020 to shareholders registered in the register of shareholders held by Euroclear Finland Ltd on the record date 14 April 2020. The second instalment of 0.50 euro per share will be paid on 8 September 2020 to shareholders registered in the register of shareholders held by Euroclear Finland Ltd on the record date 2 September 2020. No dividend shall be paid on treasury shares.

ADOPTATION OF THE REMUNERATION POLICY FOR GOVERNING BODIES

The General Meeting accepted the adoptation of the Remuneration Policy for governing bodies covering the years 2020 to 2023.

ELECTIONS AND REMUNERATION

Shareholders who jointly represent more than 70 percent of voting rights in the company have notified the company that they will propose to the Annual General Meeting a Board of Directors comprising six (6) members and that the following members of the Board of Directors be re-elected for a period ending at the next Annual General Meeting: Hakkarainen Pentti, Heinonen Lasse, Hortling Nora, Markula Elisa, Paltola Päivi and Sirviö Heikki.

The General Meeting accepted the proposal and decided that the Board of Directors shall have six (6) members. The following members were elected to the Board of Directors: Hakkarainen Pentti, Heinonen Lasse, Hortling Nora, Markula Elisa, Paltola Päivi and Sirviö Heikki.

It was decided that the Board of Directors shall receive remuneration as follows: the Chairman of the Board 5,000 euro per month, the Vice Chairman 2,500 euro per month and the other members 2,000 euro per month. Furthermore, the General Meeting decided that the Chairman of the Board shall receive an attendance allowance of 950 euro per meeting, and other members shall receive 650 euro per meeting.