Resolutions by Lassila & Tikanoja plc’s Annual General Meeting and the constitutive meeting of the Board of Directors

Lassila & Tikanoja plc
Stock exchange release
21 March 2024 at 7:00 pm

Resolutions by Lassila & Tikanoja plc’s Annual General Meeting and the constitutive meeting of the Board of Directors

The Annual General Meeting of Lassila & Tikanoja plc, which was held today, on 21 March 2024, adopted the financial statements and consolidated financial statements for the financial year 2023, discharged the members of the Board of Directors and the President and CEO from liability and adopted Remuneration Report and Remuneration Policy for the Company’s governing bodies. The Annual General Meeting resolved on the use of the profit shown on the balance sheet and the payment of dividend, the composition and remuneration of the Board of Directors, the election and remuneration of the auditor, the adoption and remuneration of the sustainability auditor and authorising the Board of Directors to decide on the repurchase of the Company’s own shares and on a share issue and the issuance of special rights entitling to shares.

Resolution on the use of the profit shown on the balance sheet and the payment of dividend

The Annual General Meeting resolved that a dividend of EUR 0.49 per share be paid on the basis of the balance sheet to be adopted for the financial year 2023. The dividend will be paid to shareholders registered in the Company’s shareholder register maintained by Euroclear Finland Ltd on the record date for dividend payment, 25 March 2024. The dividend will be paid on 3 April 2024.

Composition and remuneration of the Board of Directors

The Annual General Meeting confirmed the number of members of the Board of Directors as seven (7) in accordance with the proposal of the Shareholders’ Nomination Board. Teemu Kangas-Kärki, Laura Lares, Sakari Lassila, Jukka Leinonen, Anni Ronkainen, and Pasi Tolppanen were re-elected and Juuso Maijala was elected as a new member to the Board until the end of the following Annual General Meeting. Jukka Leinonen was elected as the Chairman of the Board and Sakari Lassila was elected as the Vice Chairman.

The Annual General Meeting resolved, in accordance with the proposal of the Shareholders’ Nomination Board, that the annual fees to be paid to the members of the Board be as follows: Chairman EUR 70,000, Vice Chairman EUR 47,000 and the ordinary members EUR 35,000.

The fees shall be paid so that 40% of the annual fee is paid in Lassila & Tikanoja plc's shares held by the Company or, if this is not feasible, shares acquired from the market, and 60% in cash. Shares are to be issued to Board members and, where necessary, acquired directly from the market on behalf of Board members on the third trading day after the publication of Lassila & Tikanoja plc’s interim report for the first quarter of 2024. In addition, the following meeting fees will be paid: Chairman EUR 1,000, Vice Chairman EUR 700 and the ordinary members EUR 500 per meeting. Meeting fees will also be paid to the Chairman and to the members of committees established by the Board as follows: Chairman EUR 700 and the ordinary members EUR 500.