Decisions of general meeting
RESOLUTIONS PASSED AT YIT CORPORATION’S ANNUAL GENERAL MEETING
Helsinki, Finland, 2013-03-15 10:30 CET --
YIT CORPORATION STOCK EXCHANGE RELEASE MARCH 15, 2013 AT 11:30 A.M. EET
YIT Corporation’s Annual General Meeting, which was held today on March 15, 2013, adopted the 2012 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 share buyback.
It was decided that a dividend of EUR 0.75 will be paid per share, or a total of EUR 94.0 million, and that the rest of the profit be carried forward to distributable equity as proposed by the Board of Directors. No dividend will be paid for the treasury shares. The right to a dividend rests with a shareholder who, by the record date of March 20, 2013, has been entered as a shareholder in the company’s shareholder register that is maintained by Euroclear Finland Ltd. It was decided that the dividend will be paid on March 27, 2013.
Composition of the Board of Directors and their fees
The Annual General Meeting resolved to elect a Chairman, Vice Chairman and five ordinary members to the Board of Directors, namely: Henrik Ehrnrooth as Chairman, Reino Hanhinen as Vice Chairman and Kim Gran, Satu Huber, Erkki Järvinen, Ari Lehtoranta and Michael Rosenlew as members.
The Annual General Meeting decided that the following fees be paid to the Board of Directors: to the Chairman EUR 6,600/month (EUR 79,200/year), to the Vice Chairman EUR 5,000/month (EUR 60,000/year), to a member EUR 3,900/month (EUR 46,800/year) and a meeting fee of EUR 550 per meeting. In addition, similarly EUR 550 will be paid to the members of the committees of the Board of Directors for each committee meeting. Per diems are paid for trips in Finland and abroad in accordance with the State’s travelling compensation regulations.
Election of the auditor and his fee
PricewaterhouseCoopers Oy, Authorized Public Accountants, was elected as the company's auditor, with Heikki Lassila, Authorized Public Accountant, as chief auditor. The auditor’s fees will be paid against the invoices approved by the company.
The Annual General Meeting authorised the Board of Directors to decide on the purchase of company shares as proposed by the Board of Directors. The authorisation covers the purchasing of a maximum of 10,760,000 company shares using the company's unrestricted equity. The authorisation is valid until March 31, 2014.
The authorisation reverses the authorisation to purchase the company's own shares issued by the Annual General Meeting on March 13, 2012.
On March 15, 2013 the total number of YIT shares is 127,223,422 and YIT holds 1,843,303 of its own shares.
The minutes of the Annual General Meeting will be available on the internet at the company’s website www.yitgroup.com by March 28, 2013, at the latest.
For additional information, please contact:
Jonne Heino, Corporate General Counsel, YIT Corporation, tel. +358 20 433 2469, firstname.lastname@example.org
Vice President, Investor Relations
Distribution: NASDAQ OMX, principal media, www.yitgroup.com
YIT is an established European service company in building systems and construction as well as in industrial sectors. More than 25,000 of our professionals serve clients in 14 countries in the Nordic countries, Central Europe, Russia and the Baltic countries. We have grown over the last hundred years with our clients and developed our services as the communities surrounding us have changed. We intend to continue following the same path. Our vision is to be the pioneer in creating and sustaining a healthy living environment. YIT’s net sales amounted approximately to EUR 4.7 billion in 2012. YIT's share is listed on Nasdaq OMX Helsinki. www.yitgroup.com