Annual General Meeting 2014 of Sanitec Corporation
ET | Source:Sanitec
The Annual General Meeting of Sanitec Corporation was held today Tuesday 13May
2014, in Stockholm, Sweden.
Distributions of funds
The annual general meeting adopted the financial statements and consolidated
financial statements for the financial period from 1 January to 31 December
2013. The meeting resolved in accordance with the proposal of the Board of
Directors to leave the profit for the period in the shareholders’ equity and to
distribute EUR 0.22 per share from the reserve for invested unrestricted equity
to the shareholders. The record date for the distribution was set to be Friday
16 May 2014, and the payments will be made on Tuesday 3 June 2014 to
shareholders registered with Euroclear Finland Oy and on or about Wednesday 4
June 2014 to shareholders registered with Euroclear Sweden AB. The last day of
trading of the Sanitec share on Nasdaq OMX Stockholm including right to the
distribution, is Tuesday 13 May 2014.
Discharge from liability
The meeting discharged the members of the Board and the President & CEO from
liability for the financial period from 1 January to 31 December 2013.
Board of Directors
The meeting resolved that the Board of Directors shall comprise of eight members
and elected Joakim Rubin as a new member and re-elected Fredrik Cappelen, Adrian
Barden, Johan Bygge, Caspar Callerström, Margareta Lehmann, Pekka Lettijeff and
Ulf Mattsson as the members and Fredrik Cappelen as the Chairman of the Board of
Directors. The meeting resolved on directors’ remuneration in accordance with
the proposal of the largest shareholder of the company.
The meeting resolved to appoint the accounting firm KPMG Oy Ab as the company’s
auditor for the period until the close of the Annual General Meeting 2015. KPMG
Oy Ab had informed that authorised public accountant Virpi Halonen will continue
as auditor in charge.
The meeting resolved that Sanitec should have a Nomination Committee consisting
of the Chairman of the Board of Directors and one representative for each of the
four largest shareholders in terms of number of votes as at the last day of
August. The names of the four shareholder representatives and the names of the
shareholders whom they represent shall be made public as soon as they have been
appointed, but no later than six months before the Annual General Meeting 2015.
Guidelines for remuneration to senior executives
The meeting resolved guidelines for remuneration to senior executives in
accordance with the proposal from the Board of Directors.
Articles of association
The meeting resolved to amend the language of the articles of association of the
company from Finnish into Swedish. Upon registration of the new articles, the
name of the company will be in Swedish Sanitec Abp, in Finnish Sanitec Oyj and
in English Sanitec Corporation.
Performance Share Plan 2014
The meeting resolved, in accordance with the proposal from the Board of
Directors, to introduce a share based incentive plan. A maximum of 340,000
shares in Sanitec may be allocated under Performance Share Plan 2014,
representing 0.34 percent of the outstanding shares and votes in Sanitec
Corporation. In connection with the share based incentive plan, and within
limits thereof, the meeting authorised the Board of Directors to resolve on
directed acquisition and transfer of own shares in one or several occasion(s).
The authorisations shall stay in force until 30 June 2015 and 12 May 2018,
The President & CEO’s presentation from the meeting will be published at
For additional information, please contact:
Head of Investor Relations
mob. 46 76 855 7836
Head of Corporate Communications
tel. 358 10 662 5426
About Sanitec – “Home of the Bathroom”
Sanitec is the leader in bathroom ceramics in Europe. We have a unique portfolio
of some of the most well-known brands with deep roots in the European fixtures
markets, strategically positioned to address local markets. We care passionately
about people’s needs when it comes to complete bathroom concepts, providing
products that stand for guaranteed quality, high level of innovation and
attractive design. Stable relationships with key stakeholders in the value chain
and our unique brand strengths foster our leading position as well as the
loyalty and trust amongst our customers, our network of installers and the end
users of our products.
Sanitec operates an integrated European group with an unparalleled local
presence to provide the best value when it comes to bathroom products. In 2013
net sales amounted to EUR 702 million. Our production network includes 18
production facilities throughout Europe and currently Sanitec employs
approximately 6,200 people. Our head office is located in Helsinki, Finland. The
shares in Sanitec Corporation are traded on NASDAQ OMX Stockholm under the
For more information about Sanitec, please visit www.sanitec.com.
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