Nokian Tyres plc annual general meeting, decisions
Nokian Tyres plc Stock Exchange Release March 26,2003 5.30 pm
NOKIAN TYRES PLC ANNUAL GENERAL MEETING, DECISIONS
On March 26,2003, Nokian Tyres Annual General Meeting accepted the profit and loss statement for 2002 and discharged the Board of Directors and the President from liability. A decision was made on a dividend of 1.11 euros per share. The matching date will be 31 March 2003 and the payment date 7 April 2003.
The meeting decided that the Board of Directors will have seven members. Rabbe Grönblom, Chairman of the Board, Kotipizza Oyj; Bo-Erik Haglund, Doctor of Science h.c.; Satu Heikintalo, M.Sc (Econ); Hannu Penttilä, Managing Director Stockmann plc; Henrik Therman, Master of Science; Matti Vuoria, Chairman of the Board, Fortum Oyj and Kim Gran, President and CEO Nokian Tyres plc were elected.
Authorised public accountants KPMG Wideri Oy continue as auditors.
The Annual General Meeting authorised the Board of Directors to decide upon increasing the share capital on one or more occasions by an issue of new shares and/or convertible bonds. The share capital of the company can be increased by a maximum of EUR 4 million. A maximum of 2,000,000 new shares can be issued each bearing a nominal value of EUR 2.00.
The Board of Directors may also deviate from the shareholders pre-emptive subscription right, provided that there is a compelling financial reason for the company referred to in chapter 4:2a of the Companies Act such as acquisitions and other corporate arrangements.
The Board of Directors has the right to decide upon the parties who are entitled to subscribe as well as the subscription prices, terms and conditions of share subscription and terms and conditions of convertible bonds.
The validity of the authorisation is one year from the date of the Annual General Meeting. At the same time any other effective authorisations upon increasing the share capital are nullified.
In the Board meeting, held after the Annual General Meeting, Mr. Matti Vuoria was elected Chairman of the Nokian Tyres Board of Directors.
Nokian Tyres plc
Vice President, Communications and IR
Further information: Mr. Kim Gran, President and CEO,
tel. +358 3 340 7336.
Distribution: Hex and major media