Stock exchange release, February 24, 2014, at 1.45 p.m. EET
Matters relating to the Annual General Meeting
KONE Corporation's Annual General Meeting was held in Helsinki on February
24, 2014. The meeting approved the financial statements and discharged the
responsible parties from liability for the financial period January 1-December
The General Meeting approved dividends of EUR 0.9975 for each of the 76,208,712
class A shares and EUR 1.00 for each of the outstanding 436,474,010 class B
shares. The date of record for dividend distribution is February 27, 2014 and
dividends will be payable on March 6, 2014.
The number of Members of the Board of Directors was confirmed as nine. Re-
elected as Members of the Board were Shinichiro Akiba, Matti Alahuhta, Anne
Brunila, Antti Herlin, Jussi Herlin, Sirkka Hämäläinen-Lindfors, Juhani Kaskeala
and Sirpa Pietikäinen. Ravi Kant was elected as new Member of the Board. Iiris
Herlin was elected as Deputy Member of the Board.
The General Meeting confirmed an annual compensation of EUR 54,000 for the
Chairman of the Board, EUR 44,000 for the Vice Chairman, EUR 33,000 for Board
Members and EUR 16,500 for Deputy Board Member. In addition, a compensation of
EUR 500 was approved for attendance at Board and Committee meetings. Of the
annual remuneration, 40 percent will be paid in class B shares of KONE
Corporation and the rest in cash.
Authorized public accountants PricewaterhouseCoopers Oy and Heikki Lassila were
nominated as auditors.
Authorization to repurchase own shares
The General Meeting approved the authorization for the Board of Directors to
repurchase KONE's own shares. Altogether no more than 51,140,000 shares may be
repurchased, of which no more than 7,620,000 may be class A shares and
43,520,000 class B shares. The authorization shall remain in effect for a period
of one year from the date of decision of the General Meeting.
Decisions by the Board of Directors
At its meeting held after the General Meeting, the Board of Directors elected
from among its members Antti Herlin as its Chair and Jussi Herlin as Vice Chair.
Jussi Herlin was elected as Chairman and Anne Brunila, Antti Herlin and Sirkka
Hämäläinen-Lindfors as members of the Audit Committee. Sirkka Hämäläinen-
Lindfors and Anne Brunila are independent of both the company and of significant
shareholders and Jussi Herlin is independent of the company.
Antti Herlin was elected as Chairman and Jussi Herlin and Juhani Kaskeala as
members of the Nomination and Compensation Committee. Juhani Kaskeala is
independent of both the company and of significant shareholders.
For further information, please contact:
Jukka Ala-Mello, Secretary to the Board, tel. +358 204 75 4226
Secretary to the Board
Executive Vice President
Marketing and Communications
KONE is one of the global leaders in the elevator and escalator industry.
KONE's objective is to offer the best People Flow® experience by developing and
delivering solutions that enable people to move smoothly, safely, comfortably
and without waiting in buildings in an increasingly urbanizing environment. KONE
provides industry-leading elevators, escalators, automatic building doors and
integrated solutions to enhance the People Flow in and between buildings.
KONE's services cover the entire lifetime of a building, from the design phase
to maintenance, repairs and modernization solutions. In 2013, KONE had annual
net sales of EUR 6.9 billion, and at the end of the year over 43,000 employees.
KONE class B shares are listed on the NASDAQ OMX Helsinki Ltd in Finland.