DECISIONS OF THE ANNUAL GENERAL MEETING OF OKMETIC OYJ

4/9/2014, 12:45 PM (Source: GlobeNewswire)

OKMETIC OYJ  STOCK EXCHANGE RELEASE    9 APRIL 2014  AT 1.45 P.M.

DECISIONS OF THE ANNUAL GENERAL MEETING OF OKMETIC OYJ

The annual general meeting of Okmetic Oyj was held on 9 April 2014, at 10.00 a.m. in the auditorium of the Finnish Aviation Museum, address Tietotie 3, Vantaa, Finland. The annual general meeting adopted the annual accounts and the consolidated annual accounts for the financial year 2013 and discharged the company's management from liability.

USE OF THE PROFIT SHOWN ON THE BALANCE SHEET AND PAYMENT OF DIVIDEND

The annual general meeting decided, in accordance with the proposal of the board of directors, that no dividend shall be paid for the financial year 2013 and that the loss for the financial year of the parent company, 208,387.78 euro, shall be recorded to the company's retained earnings.

ELECTION AND REMUNERATION OF THE MEMBERS OF THE BOARD OF DIRECTORS

The annual general meeting decided that there will be five members on the company's board of directors. Mr. Hannu Martola, Ms. Mervi Paulasto-Kröckel, Mr. Mikko Puolakka, and Mr. Henri Österlund were re-elected as members of the board of directors, and Mr. Jan Lång was elected as a new board member, all until the end of the next annual general meeting.Mr. Jan Lång (born 1957, M.Sc. (Econ.)) is President and CEO of Ahlstrom Oyj since 2009. Before this he acted as President and CEO of Uponor Oyj and in various management positions at Huhtamäki Oyj.
The board of directors elected Henri Österlund as its chairman and Jan Lång as its vice chairman in its organisation meeting held immediately after the annual general meeting.

It was decided that the following annual remuneration shall be paid to the members of the board of directors: 40,000 euro to the chairman, 30,000 euro to the vice chairman, and 20,000 euro to each of the other board members. The annual remuneration will be paid in the company's shares and in cash for the part of taxes. Payment of the annual remuneration will be made as a one-time payment on 9 May 2014. The number of remuneration shares shall be determined according to the closing quotation of the company's share on 8 May 2014. In addition, it was decided that the board members will be paid meeting remuneration, amount of which is 750 euro/meeting for the chairman of the board and 500 euro/meeting for the other board members.

ELECTION AND REMUNERATION OF THE AUDITOR

Authorised Public Accountants PricewaterhouseCoopers Oy was re-elected as auditor of the company. PricewaterhouseCoopers Oy has announced that APA, Mr. Mikko Nieminen will be acting as principal auditor. It was decided that remuneration to the auditor shall be paid according to the auditor's reasonable invoice.

AUTHORISATION OF THE BOARD OF DIRECTORS TO DECIDE ON THE REPURCHASE AND/OR ACCEPTANCE AS PLEDGE OF THE COMPANY'S OWN SHARES

The annual general meeting authorised the board of directors to decide on the repurchase and/or acceptance as pledge of the company's own shares in one or more tranches as follows:

The aggregate number of shares repurchased and/or accepted as pledge shall not exceed 1,728,750 shares, which represents approximately 10 percent of all the shares of the company. The company and its subsidiaries together cannot at any time own and/or hold as pledge more than 10 percent of all the company's registered shares.

Only unrestricted equity can be used to repurchase the company's own shares under the authorisation. Own shares can be repurchased at a price determined by public trading on the day of repurchase or at another market-based price.

The board of directors decides on the method of repurchasing and/or accepting as pledge of the company's own shares as well as the other terms and conditions. Shares can be repurchased otherwise than in the shareholders' proportional holding of shares (directed repurchase). The authorisation cancels the authorisation given by the annual general meeting on 10 April 2013 to the board of directors to decide on the repurchase and/or acceptance as a pledge of the company's own shares. The authorisation is effective until the next annual general meeting, however, no longer than until 9 October 2015.

AUTHORISATION OF THE BOARD OF DIRECTORS TO DECIDE ON THE ISSUANCE OF SHARES, THE TRANSFER OF THE COMPANY'S OWN SHARES AS WELL AS THE ISSUANCE OF SPECIAL RIGHTS ENTITLING TO SHARES

The annual general meeting authorised the board of directors to decide on the issuance of shares, the transfer of the company's own shares, and the issuance of special rights entitling to shares according to Chapter 10, Section 1 of the Finnish Companies Act in one or more tranches as follows:

The aggregate number of shares issued or transferred on the basis of the authorisation may not exceed 2,593,125 shares.

The board of directors decides on all the terms and conditions of the issuance of shares, the transfer of the company's own shares, and the issuance of special rights entitling to shares according to Chapter 10, Section 1 of the Finnish Companies Act. The authorisation concerns both the issuance of new shares as well as the transfer of the company's own shares. The issuance of shares, the transfer of the company's own shares, and the issuance of special rights entitling to shares according to Chapter 10, Section 1 of the Finnish Companies Act may be carried out in deviation from the shareholders' pre-emptive rights (directed issue).

The authorisation cancels the authorisation given by the annual general meeting on 10 April 2013 to the board of directors to decide on the issuance of shares, the transfer of the company's own shares as well as the issuance of special rights entitling to shares. The authorisation is effective until the next annual general meeting, however, no longer than until 9 October 2015. 

OKMETIC OYJ

Kai Seikku
President

For further information, please contact:

Kai Seikku, President, Okmetic Oyj,
Tel. +358 9 5028 0232, e-mail: kai.seikku@okmetic.com

Juha Jaatinen, Senior Vice President, Finance, IT and Communications, Okmetic Oyj, tel. +358 5028 0286, e-mail: juha.jaatinen@okmetic.com

Distribution:
NASDAQ OMX Helsinki Ltd
Principal media
www.okmetic.fi

OKMETIC IN BRIEF

Okmetic is a technology company which supplies tailor-made silicon wafers for sensor and semiconductor industries and sells its technological expertise. Okmetic provides its customers with solutions that boost their competitiveness and profitability.

Okmetic's silicon wafers are part of a further processing chain that produces end products that improve human interaction and quality of life. The company's products are based on high-tech expertise that generates added value for customers, innovative product development and an extremely efficient production process.

Okmetic has a worldwide clientele and sales network, production plants in Finland and in the United States as well as license-based production in Japan and in China.

Ocmetic's shares are listed on the NASDAQ OMX Helsinki Ltd under the trading symbol OKM1V. Additional information can be found on the company's website: www.okmetic.com.




This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Okmetic Oyj via Globenewswire

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