eQ Plc STOCK EXCHANGE RELEASE
13 March 2012, at 5:50 pm
DECISIONS ADOPTED BY eQ PLC'S ANNUAL GENERAL MEETING
eQ Plc’s annual general meeting, held on Tuesday 13 March 2012 in Helsinki (“AGM”), decided upon the following:
Confirmation of the financial statements
eQ Plc’s AGM confirmed the financial statement of the company, which included the group financial statements, the report by the board of directors and the auditor’s report for the financial year 2011.
Decision in respect of the result shown on the balance sheet
The AGM confirmed the proposal by the board of directors that a dividend of EUR 0.12 per share be paid. The dividend shall be paid to shareholders who on the record date for the dividend payment, 16 March 2012, are recorded in the shareholders register held by Euroclear Finland Ltd. The dividend shall be paid on 26 March 2012
Discharge from liability to the board of directors, managing directors and deputy managing director
The AGM decided to grant discharge from liability to the board of directors and the managing directors and the deputy managing directors.
The number of board members, appointment of board members and the remuneration of the members of the board
According to the decision of the AGM, five board members, being Ole Johansson, Georg Ehrnrooth, Eero Heliövaara, Jussi Seppälä and as a new member, Christina Dahlblom, be elected to the board of directors. The term of office of the board members ends at the close of the next annual general meeting. The AGM decided that the members of the board would receive remuneration as follows: the chairman of the board will receive 3,300 Euros and the board members will receive 1,800 Euros per month. Travel and lodging costs will be compensated in accordance with the company’s expense policy. The board appointed Ole Johansson as chairman of the board in its constituting meeting held immediately after the AGM.
Auditors and auditors’ compensation
Ernst & Young Oy, corporation of authorised public accountants, will continue as auditor of the company, and Ulla Nykky APA will act as Lead Auditor. It was decided to compensate the auditor according to the auditor's invoice approved by the eQ Plc.
Authorising the board of directors to decide on the repurchase of the Company’s own shares
The AGM authorised the board of directors to decide on the repurchase of no more than 500,000 Company’s own shares, which can be repurchased otherwise than in proportion to the shareholdings of the shareholders with assets from the company’s unrestricted equity. Shares will be purchased at the market price in public trading on the NASDAQ OMX Helsinki as per the time of purchase. The number of the repurchased shares corresponds to approximately 1.49 per cent of all shares in the Company. Own shares may be repurchased in order to develop the Company's capital structure, to finance or carry out acquisitions or other business transactions, or to use the shares as part of the Company's incentive schemes. The repurchased shares may be held for reissue, canceled or transferred further. The board of directors decides on all other matters related to the repurchase of own shares. The authorisation cancels all previous authorisations to decide on the repurchase of the Company’s own shares and is effective until the next annual general meeting.
Authorising the board of directors to decide on the issuance of shares as well as the issuance of special rights entitling to shares
The AGM authorised the board of directors to decide on a share issue or share issues and/or the issuance of special rights entitling to shares referred to in Chapter 10 Section 1 of the Companies Act, comprising a maximum total of 5,000,000 new shares. The amount of the authorisation corresponds to approximately 14.94 per cent of all shares in the Company. The authorisation is to be used in order to finance or carry out potential acquisitions or other business transactions, to strengthen the balance sheet and the financial position of the Company, to fulfill Company’s incentive schemes or to any other purposes decided by the board. Based on the authorisation, the board decides on all other matters related to the issuance of shares and special rights entitling to shares referred to in Chapter 10 Section 1 of the Companies Act, including the recipients of the shares or the special rights entitling to shares and the amount of the consideration to be paid. Therefore, based on the authorisation, shares or special rights entitling to shares may also be issued directed i.e. in deviation of the shareholders pre-emptive rights as described in the Companies Act. A share issue may also be executed without payment in accordance with the preconditions set out in the Companies Act. The authorisation will cancels all previous authorisations to decide on the issuance of shares as well as the issuance of special rights entitling to shares and is effective until the next annual general meeting.
Helsinki, 13 March 2012
eQ Plc
Janne Larma, CEO
Additional information: Janne Larma, CEO, tel. +358 40 500 4366
Distribution: NASDAQ OMX Helsinki, www.eq.fi
eQ Group is a Finnish group of companies that specializes in asset management and corporate finance operations. The Group offers services related to mutual funds, private equity funds and hedge funds as well as traditional asset management for institutions and individuals. The assets managed by the Group total approximately EUR 3.5 billion. In addition, Advium Corporate Finance Ltd, which is part of the Group, offers advisory services related to mergers and acquisitions, real estate transactions and equity capital markets.
More information about the Group is available on the following websites: