Helsinki, Finland, 2011-03-03 12:00 CET (GLOBE NEWSWIRE) -- TECTIA CORPORATION STOCK EXCHANGE RELEASE March 3rd 2011 AT 1:00 P.M.
THE ANNUAL GENERAL MEETING OF TECTIA CORPORATION ON MARCH 3RD 2011
The Annual General Meeting of Tectia has unanimously adopted the financial statement and consolidated financial statement and granted discharge from liability to the Board members and CEO who have been active during the accounting period between January 1st 2010 and December 31st 2010.
At the Annual General Meeting, Juhani Harvela, Pyry Lautsuo, Juho Lipsanen, Tiia Tuovinen and Tatu Ylönen were re-elected as directors of the company’s Board of Directors. At the organizing meeting of the Board of Directors, which was held immediately after the Annual General Meeting, Juho Lipsanen was re-elected as the Chairman of the Board of Directors.
The Authorized Public Accountants KPMG Oy Ab was re-elected as the auditor of the company, with Kirsi Jantunen as the accountant with the main responsibility.
The Annual General Meeting approved the Board of Directors’ proposal to authorize the Board of Directors to decide upon the issuing of in total 5,500,000 shares, in one or more tranches, as share issues against payment or by giving stock options or other special rights entitling to shares, as defined in Chapter 10 Section 1 of the Finnish Companies Act, either in accordance with the shareholders’ pre-emptive right to share subscription or deviating from this right. The authorization will be valid until the next Annual General Meeting, but will expire on June 30th 2012 at the latest.
The Annual General Meeting approved the Board of Directors’ proposal to authorize the Board of Directors to decide upon the acquiring of a maximum of 2,000,000 of the company’s own shares, in one or more tranches, with assets belonging to the company’s non-restricted equity. This amount corresponds approximately to 6.55 per cent of all shares of the company. The compensation to be paid for the acquired shares shall be determined on the date of acquisition on the basis of the trading rate determined for the company’s share in the public trading arranged by NASDAQ OMX Helsinki Ltd. Furthermore, the Annual General Meeting decided to authorize the Board of Directors to decide upon a distress concerning a maximum of 1,500,000 own shares, in one or more tranches. The amount corresponds approximately to 4.91 per cent of all shares of the company. The authorization to acquire the shares and the authorization concerning the distress shall be valid at most for eighteen (18) months after the decision of the Annual General Meeting.
TECTIA CORPORATION
Jari Mielonen
CEO
For additional information, please contact:
Pekka Rauhala, General Counsel, tel. +358 20 500 7000
Distribution:
NASDAQ OMX Helsinki Ltd.
Main Media
www.tectia.com