Helsinki, Finland, 2014-10-23 09:55 CEST (GLOBE NEWSWIRE) -- SATO Corporation, Stock Exchange Release, 23 October 2014 at 10:55 am (EET)
Content of this release is same as in the Finnish version released at 10:43 am
SATO Corporation's extraordinary general meeting, on 23 October 2014, decided to confirm the number of SATO Corporation Board members as eight.
In addition, the general meeting decided to elect one additional Board member, starting from 23 October 2014. Andrea Attisani, Senior Portfolio Manager, Strategic Real Estate Europe for APG Asset Management, was elected as a member. He is independent of the company and not independent of the main shareholders.
Other Board members will continue in their posts: Juha Laaksonen as Chair of the Board, Esa Lager as Deputy Chair, and Timo Hukka, Vesa Immonen, Tarja Pääkkönen, Niina Rajakoski and Ilkka Tomperi as members of the Board.
Additional information:
Juha Laaksonen, Chairman of the Board, tel. +358 50 452 4519
Erkka Valkila, President & CEO, tel. +358 201 34 4001 and +358 50 62 050
SATO is one of Finland's leading corporate investors in housing. SATO’s aim is to offer comprehensive alternatives in rental housing and an excellent customer experience. SATO owns a total of approximately 24,000 rental apartments in the largest Finnish urban growth centres and in St. Petersburg.
In our operations, we promote sustainable development and initiative-taking, and work in open interaction with our stakeholders to create added value. We operate profitably and with a long-term view. We increase the value of our housing property through investments, divestments and repair work.
SATO Group's net sales in 2013 were €311.5 million, operating profit €178.3 million and profit before taxes €140.8 million. SATO's investment properties are valued at €2.4 billion.