Tiimari Plc Stock Exchange Release April 7, 2009, at 13.30 TIIMARI PLC ANNUAL GENERAL MEETING APRIL 7, 2009 DECISIONS AND ORGANIZING OF THE BOARD OF DIRECTORS - HANNU KROOK ASSUMES HIS POSITION AS PRESIDENT Annual General Meeting approved the financial statements for 2008 on April 7, 2009 and the members of the Board and the President were discharged from liability for the financial year 2008. The meeting decided in accordance with the Board proposal to not to distribute a dividend and the loss for the financial year 1,585,287.88 to be booked in the accumulated profits account. It was decided that the number of Board members be six. Peter Seligson, Arja Hautanen, Sven-Olof Kulldorff, Juha Mikkonen, Alexander Rosenlew and Hannu Ryöppönen were elected to the Board of Directors. The following compensations were decided on: the Chairman and the Vice-chairman of the Board EUR 2,000 per month and the other Board members EUR 1,200 per month. Additionally it was decided that the compensation for meeting of the Board Committee is EUR 100 per meeting. Travel and accommodation was decided to be paid for in accordance to the company compensation rules. KPMG Oy Ab was elected auditor and they nominated Mr. Sixten Nyman as responsible auditor. It was decided to pay the auditors' fees based on reasonable invoicing. The Annual General Meeting authorized the Board to decide on issuing a maximum of 5,655,535 shares through a share issue and/ or by granting stock options and/or other special rights entitling to shares, pursuant to chapter 10, section 1 of Finland's Limited Liability Companies Act, in one or more batches. The Board may decide to issue either new shares or existing shares possibly held by the company. The maximum share amount of the proposed authorization is equivalent to 50% of all company shares at the time of convening the Annual General Meeting. The authorization may be used to finance or implement any business acquisitions or corporate arrangements, to strengthen the company's balance sheet and financial position, to implement new Board member, management and other staff loyalty and incentive schemes or for other purposes decided by the Board. Not more than a total of 500,000 share options may be granted to the new members of the Board and to the new President of the company within the loyalty and incentive scheme. The authorization includes entitlement for the Board to decide on all terms and conditions of any share issue as well as on those of granting any special rights pursuant to chapter 10, section 1 of the Limited Liability Companies Act, including the recipients of shares or of special rights entitling to shares as well as the consideration to be paid. Thus the authorization also includes the right to issue shares or special rights through directed issue, that is to deviate from the pre-emptive right of shareholders, under special conditions specified by law. The authorization repeals the corresponding previous authorizations and is effective until the Annual General Meeting of 2010, although not beyond June 30, 2010. Convening after the Annual General Meeting, the Board elected Peter Seligson its chairman and Hannu Ryöppönen as its vice-chairman. The Board appointed Peter Seligson chairman of the Nomination and Compensation Committee and its other members Alexander Rosenlew and Arja Hautanen. The Board appointed Hannu Ryöppönen chairman of the Audit Committee and its other members Juha Mikkonen and Peter Seligson. After the Annual General Meeting M.Sc econ Hannu Krook (44), appointed as the new President of the Company January 19, 2009, assumed his position as the Company President. Helsinki April 7, 2009 TIIMARI PLC Additional information: Hannu Krook, president, phone +358 3 812911 e-mail hannu.krook@tiimari.fi Tiimari Plc is a listed company. The group consists of three retail shop concepts: Tiimari, Gallerix and Paperazzi. These three concepts do business in eight countries within the Baltic Sea region and there are altogether nearly 300 shops. All three concepts belong to the forerunners of their market segment. In the corporation there is also a company called Tiimore Oy which specialises in corporate gifts and sales promotion solutions.
Tiimari Plc Annual General Meeting April 7, 2009 decisions and organizing of the Board of Directors
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