Espoo, 2016-03-23 14:15 CET (GLOBE NEWSWIRE) --
TRAINERS´ HOUSE PLC, STOCK EXCHANGE RELEASE, 23 MARCH 2016 AT 15:15
The Annual General Meeting of Trainers' House Plc was held today on 23 March 2016 in Espoo.
The Annual General Meeting decided in accordance with the proposal of the Board of Directors that no dividends shall be paid from the financial year 2015 and that the profit of the financial year shown by the parent company will be transferred to the company's profit and loss account. The Annual General Meeting decided in order to cover the losses that the share premium reserve will be decreased by EUR 494,539.16 and the invested unrestricted equity fund will be decreased by EUR 36,461,365.15 in order to clarify the balance sheet of the company. After the decrease, both of the funds have been used in full. After all the decided measures, the accumulated profit of the company is EUR -1,512,503.58 added with the profit from the financial year 2015 EUR 604,019.85 i.e. a total of EUR -908,483.73.
The Annual General Meeting approved the financial statements and the consolidated financial statements and discharged the Board of Directors and the CEO from liability for the fiscal year 1.1.2015-31.12.2015.
The Annual General Meeting decided that the number of members of the company's Board of Directors is three. Mr. Aarne Aktan, Mr. Jarmo Hyökyvaara and Mr. Jari Sarasvuo were re-elected members of the Board of Directors. At its assembly meeting convened after the Annual General Meeting the Board of Directors elected Aarne Aktan as the Chairman of the Board.
The Annual General Meeting decided that the remuneration to the Chairman shall be EUR 3,500 per month and to the other members of the Board EUR 1,500 per month.
Ernst & Young Oy was elected as the auditor. The remuneration to the auditor shall be paid against the auditor's reasonable invoice.
The Annual General Meeting decided in accordance with the proposal of the Board of Directors on issuing of shares and issuing of other special rights entitling to shares, in one or more tranches. The authorization entitles the Board of Directors to decide upon the issuing of a maximum of 13,000,000 shares. The authorisation also includes the right to decide upon issuing of shares to the company itself, however so that after the issuance the maximum amount of the shares owned by the company itself can be 1/10 of all the shares of the company. The Board of Directors shall decide upon all of the terms regarding the issuing of shares and issuing of other special rights entitling to shares in accordance with Chapter 10 Section 1 of the Finnish Limited Liability Companies Act. The issuing of shares and other special rights in accordance with Chapter 10 Section 1 of the Finnish Limited Liability Companies Act can deviate from the shareholders’ pre-emptive rights (directed share issue). The authorization will reverse the previous authorisations regarding issuing of shares and other special rights entitling to shares. The authorisation will be valid until 30 June 2019.
TRAINERS' HOUSE PLC
Arto Heimonen
CEO
FURTHER INFORMATION
Arto Heimonen, CEO, +358 40 412 3456
DISTRIBUTION:
NASDAQ OMX Helsinki
Prominent media sources
www.trainershouse.fi – Investors
