RESOLUTIONS PASSED AT RAMIRENT PLC'S ANNUAL GENERAL MEETING 2011RAMIRENT PLC STOCK EXCHANGE RELEASE 7 April 2011
Ramirent Plc's Annual General Meeting, which was held today on 7 April 2011, adopted the 2010 financial statements and discharged the members of the Board of Directors and the President and CEO from liability. The Annual General
Meeting decided on the payment of dividends, the composition of the Board of Directors and their fees, the election of the auditor and his fee, and the authorisation of the Board of Directors to repurchase company’s own shares.
Dividend payout
The Annual General Meeting adopted the Board’s proposal that a dividend of EUR 0.25 per share be paid based on the adopted balance sheet for the financial year ended on 31 December 2010. The dividend will be paid to shareholders registered in the shareholders’ register of the Company maintained by Euroclear Finland Ltd on the record date for dividend payment 12 April 2011. It was decided that the dividend be paid on 26 April 2011.
Composition of the Board of Directors and their remuneration
The Annual General Meeting resolved that the number of members of the Board of Directors be confirmed to be six (6) and re-elected the current Board members Kaj-Gustaf Bergh, Peter Hofvenstam, Erkki Norvio, Susanna Renlund and Johan Ek and elected Gry Hege Sølsnes as new Board member for the term that will continue until the end of the next Annual General Meeting.
The Annual General Meeting adopted the proposal that the remunerations of the members of the Board of Directors would remain unchanged as follows: for the Chairman EUR 3,000 per month and additionally EUR 1,500 for attendance at board and committee meetings and other similar board assignments; for the Vice-Chairman EUR 2,500 per month and additionally EUR 1,300 for attendance at board and committee meetings and other similar board assignments; and for the members of the Board of Directors EUR 1,700 per month and additionally EUR 1,000 for attendance at board and committee meetings and other similar board assignments. Travel expenses and other out-of-pocket expenses due to the board work shall be compensated in accordance with the Company’s established practice and travel rules.
Election of the auditor and his fee
The Annual General Meeting adopted the proposal that the number of auditors shall be one (1) and elected PricewaterhouseCoopers Oy (“PwC”) as the company’s auditor with APA Ylva Eriksson as principally responsible auditor for the term that will continue until the end of the next Annual General Meeting. The auditor’s compensation will be paid against an invoice as approved by the Company.
Repurchase of Company’s own shares
The Annual General Meeting authorised the Board of Directors to decide on the repurchase of a maximum of 10,869,732 Company’s own shares as proposed by the Board of Directors. The authorisation shall also contain an entitlement for the Company to accept its own shares as pledge. The share repurchase authorisation is valid until the next Annual General Meeting.
The minutes of the Annual General Meeting will be available on the Internet at the company website www.ramirent.com by April 21, 2011.
Helsinki, 7 April 2011
RAMIRENT PLC
THE BOARD OF DIRECTORS
FURTHER INFORMATION:
Paula Koppatz, General Counsel, tel. +358 (0)20 750 2834
DISTRIBUTION:
NASDAQ OMX Helsinki
Main news media
www.ramirent.com
Ramirent is a leading equipment rental group delivering Dynamic Rental Solutions™ that simplify business. We serve a broad range of customers, including construction and process industries, shipyards, the public sector and households. In 2010, Group sales totalled EUR 531 million. The Group has 3,000 employees, at 378 locations in 13 countries in Northern, Central and Eastern Europe. Ramirent is listed on the NASDAQ OMX Helsinki Ltd.
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