(Stock Exchange Release)
The Kemira Oyj Annual General Meeting of March 19, 2008 confirmed a
per-share dividend of 0.50 EUR for the 2007 financial year. The AGM
reelected members Elizabeth Armstrong, Juha Laaksonen, Ove Mattsson,
Pekka Paasikivi and Kaija Pehu-Lehtonen to the Board of Directors and
Jukka Viinanen and Jarmo Väisänen were elected as new members. Pekka
Paasikivi was elected to continue as the Board's chairman and Jukka
Viinanen was elected as vice-chairman.
Dividend
The Annual General Meeting resolved that a per-share dividend of 0.50
EUR will be paid for financial year 2007. The dividend will be paid
to a shareholder who is registered in the Company's Shareholder
Register maintained by the Finnish Central Securities Depository Ltd
on the date of record, March 26, 2008 and the dividend will be paid
out on April 2, 2008.
Amendment of Article 4 of the Articles of Association
Since the Managing Director of the Company is called President & CEO,
the AGM decided that Article 4 of the current Articles of Association
be amended such that references to the Finnish titles "pääjohtaja"
(English translation in the current Articles of Association "Chief
Executive Officer") and "varapääjohtaja" (English translation in the
current Articles of Association "Deputy Chief Executive Officer")
will be deleted.
Authorization to decide on the repurchase of the company's own shares
The Annual General Meeting authorized the Board of Directors to
decide upon repurchase of a maximum of 2,397,515 of the company's own
shares ("share repurchase authorization").
Shares will be repurchased by using unrestricted equity either
through a direct offer with equal terms to all shareholder at a price
determined by the Board of Directors or otherwise than in proportion
to the existing shareholdings of the company's shareholders in public
trading on the OMX Nordic Exchange Helsinki Oy ("the stock exchange")
at the market price quoted at the time of the repurchase. Shares
shall be acquired and paid for in accordance with the rules of stock
exchange and the Finnish Central Securities Depository Ltd.
Shares may be repurchased to be used in implementing or financing
mergers and acquisitions, developing the company's capital structure,
improving the liquidity of the company's shares, or implementing the
company's share-based incentive plan. In order to realize the
aforementioned purposes the shares acquired may be retained,
transferred further, or cancelled by the company.
The Board of Directors will decide upon other terms related to share
repurchase.
The share repurchase authorization is valid until the end of the next
Annual General Meeting.
Authorization to decide on share issues
The Annual General Meeting authorized the Board of Directors to
decide to issue a maximum of 12,500,000 new shares and transfer a
maximum of 6,252,250 own shares held by the company ("share issue
authorization").
The new shares may be issued and the company's own shares held by the
company may be transferred either against payment or, as part of the
implementation of the company's share-based incentive plan, without
payment.
Said new shares may be issued and said company's own shares held by
the company may be transferred to the company's shareholders in
proportion to their current shareholdings in the company, or through
a directed share issue if the company has a weighty financial reason
to do so, such as financing or implementing mergers and acquisitions,
developing its capital structure, improving the liquidity of the
company's shares or if this is justified for the purpose of
implementing the company's share-based incentive plan. The directed
share issue may be carried out without payment only in connection
with the implementation of the company's share-based incentive plan.
The subscription price for new shares shall be recognized under the
unrestricted equity capital fund. The consideration payable for the
company's own shares shall be recognized under the unrestricted
equity capital fund.
The Board of Directors will decide upon other terms related to share
issues.
The share issue authorization is valid until the end of the next
Annual General Meeting.
Kemira Oyj's new Board of Directors
The Annual General Meeting elected seven members to the Board of
Directors. Present members Elizabeth Armstrong, Juha Laaksonen, Ove
Mattsson, Pekka Paasikivi and Kaija Pehu-Lehtonen were reelected and
Jukka Viinanen and Jarmo Väisänen were elected as new members of the
Board of Directors. Pekka Paasikivi was elected to continue as the
chairman of the Board of Directors and Jukka Viinanen was elected as
vice-chairman.
Jukka Viinanen (b. 1948) is currently the chairman of the Board of
Directors of Rautaruukki Corporation. Previously he was the President
and CEO of Orion Corporation, in 2000-2007, and he was the President
and CEO of Neste Corporation in 1997-1999, also holding executive and
Board positions there in 1990-1999.
Jarmo Väisänen, Senior Financial Counselor (b. 1951) is a member of
the Management Board of the Ownership Steering Department at the
Prime Minister's Office and the second deputy to the Director
General. Väisänen is currently the vice-chairman of the Board of
Directors of Sponda Oyj and Edita Oyj. He previously was the
vice-chairman of the Board of Directors of Kapiteeli Oyj (1999-2006)
and of Solidium Oyj (1996-2004).
Auditors
The Annual General Meeting elected KPMG Oy Ab, Authorized Public
Accountants, to serve as the company's auditor, with Pekka Pajamo,
Authorized Public Accountant, acting as chief auditor.
Kemira Oyj
Timo Leppä, Executive Vice President, Group Communications
For more information, please contact
Kemira Oyj
Jukka Hakkila
Group General Counsel
Cell: +358 40 544 2303
Timo Leppä
Executive Vice President, Group Communications
Cell: +358 50 301 6800
www.kemira.com
Kemira is seeking to be a group of global and leading chemical
businesses with unique positions in selected customer segments.
Kemira's four business areas: Kemira Pulp&Paper, Kemira Water, Kemira
Specialty and Kemira Coatings provide customers with complete
solutions, expertise and premium quality products. Kemira serves the
pulp and paper industry, water treatment, paint business and chemical
industry.
In 2007, Kemira recorded revenue of approximately EUR 2.8 billion and
had a staff of 10,000. Kemira operates in 40 countries.
www.kemira.com
