Decisions of general meeting
Resolutions of the Annual General Meeting of Componenta
Componenta Corporation Stock exchange release 5.5.2017 at 15.25
The Annual General Meeting of Componenta Corporation, held on 5 May 2017, adopted the financial statements and the consolidated financial statements for the financial period from 1 January to 31 December 2016 and discharged the members of the Board of Directors and the CEO from liability concerning the financial period. In accordance with the proposal of the Board of Directors, the General Meeting resolved that no dividend shall be distributed for the financial period ended 31 December 2016.
The number of the members of the Board of Directors was resolved to be four. The General Meeting resolved to re-elect Olli Isotalo and Tommi Salunen, both currently members of the Board Directors, and to elect Petteri Walldén and Anne Leskelä as new members of the Board of Directors.
The General Meeting resolved that the annual remuneration payable to the Chairman of the Board shall be 50,000 euro and the remuneration payable to other members of the Board of Directors shall be 25,000 euro. In addition, the members of possible committees of the Board of Directors will be paid an annual remuneration of 5,000 euro. Travel expenses of the members of the Board of Directors shall be compensated in accordance with the Company’s travel policy.
The General Meeting elected audit firm PricewaterhouseCoopers Oy as the Company’s auditor.
The General Meeting proposed that out of the loss of EUR 336,419,172.22 related to the financial periods ended on or before 31 December 2016 (the loss of the financial period ended on 31 December 2016 being EUR 236,496,663.78), as shown in the financial statements of the company as per 31 December 2016, a total amount of EUR 233,487,815.06 be covered by reducing the unrestricted equity reserve, the share premium reserve, the reserve fund and the Company’s share capital. After these actions the sum of the unrestricted equity reserve, the share premium reserve and the reserve fund is EUR 0.00 and the share capital of the company is EUR 1,000,000.
The General Meeting also resolved to cancel the resolution by the General Meeting made on 15 April 2016 to issue a maximum of 10,000,000 option rights to the key employees of the Componenta Group.
The minutes of the General Meeting will be available on Componenta’s website at www.componenta.com as of 19 May 2017, at the latest.
Helsinki 5 May 2017
President and CEO
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Componenta is an international technology company. Componenta specializes in supplying cast and machined components and total solutions made of them to its global customers, who are manufacturers of vehicles, machines and equipment. The company’s share is listed on Nasdaq Helsinki.