Municipality Finance Plc
Resolutions by the Annual General Meeting of Municipality Finance Plc held on 26 March 2014
STOCK EXCHANGE RELEASE 26 MARCH 2014 at 3.30 p.m. (EET)
The Annual General Meeting of Municipality Finance Plc held on 26 March 2014 adopted the company’s financial statements and discharged the members of the Board of Directors and the CEO from liability for the financial year 2013. The Annual General Meeting decided that no dividend will be distributed.
Board of Directors and remuneration
The number of Board members was confirmed at eight instead of the previous seven members. Eva Liljeblom, Fredrik Forssell, Teppo Koivisto, Sirpa Louhevirta, Asta Tolonen, Juha Yli-Rajala and Tuula Saxholm were re-elected as Board members and Tapani Hellstén was elected as a new member. Additional information on the Board members can be found on the company website at www.munifin.fi. In its first meeting, the Board of Directors appointed Eva Liljeblom as its Chairman and Tapani Hellstén as the Vice Chairman.
The Annual General Meeting confirmed the fees payable to Board members for the term 2014–2015. The fees correspond with the fees paid for the previous term: annual remuneration of a Board member EUR 15,000, annual remuneration of the Vice Chairman of the Board EUR 18,000, annual remuneration of the Chairman of the Board EUR 30,000 and a meeting fee of EUR 500 per Board and committee meeting to members and EUR 800 per meeting to the chairmen.
Remuneration of the Shareholders’ Nomination Committee
The Annual General Meeting decided, in a deviation from a previous Annual General Meeting decision, to not pay fees to the members of the Shareholders’ Nomination Committee for the term that began on 1 October 2013 and will end at the close of the 2014 Annual General Meeting, and that future members of Shareholders’ Nomination Committees will also not be paid fees.
Election of the auditor and fees
The Annual General Meeting re-elected KPMG Oy Ab as the company’s auditor for a term starting at the end of the Annual General Meeting and ending at the close of the next Annual General Meeting. The accountable auditor is Marcus Tötterman, APA, who was also the accountable auditor in the previous term. It was decided that the auditor’s fee will be paid against invoice.
Amendment of the Articles of Association
Due to a change in legislation, the Annual General Meeting decided to amend the company’s Articles of Association by adding a provision that stipulates that the redemption of the company’s shares is subject to the approval of the competent authority (currently the Finnish Financial Supervisory Authority). The Annual General Meeting also decided to make a technical amendment to the provision in the Articles of Association concerning the company’s line of business, in order for the provision in question to refer to the correct paragraph of the Finnish Act on Investment Services.
Additional information on the company’s operations in 2013 is available in the company’s Annual Report, which can be downloaded in PDF format from the company website at www.munifin.fi.
Municipality Finance Plc
Tel. +358 500 406 856