Fri March 27 08:20 am 2020 in category Stock exchange releases
Nokian Tyres plc AGM: Board of Directors changes the proposal for dividend payment. Meeting venue changed.
Nokian Tyres plc Inside Information March 27, 2020 at 8:20 a.m.
Nokian Tyres plc AGM: Board of Directors changes the proposal for dividend payment. The company imposes several precautionary measures with the aim of holding the Annual General Meeting as planned on April 2, 2020. Meeting venue changed.
Due to the COVID-19 outbreak, which has increased the uncertainty in the car and tire market, the Board of Directors of Nokian Tyres plc (“Nokian Tyres”) has decided to change its dividend proposal to the Annual General Meeting (“AGM”) to be held on 2 April 2020.
The Board of Directors of Nokian Tyres proposes that half of the originally proposed dividend of EUR 1.58 per share, i.e. EUR 0.79 per share, to be paid in accordance with the Board’s original proposal (including the proposed record and payment date). In addition, it is proposed that the AGM would authorize the Board of Directors to decide on dividend payment of a maximum of EUR 0.79 per share to be distributed in one or several instalments at a later stage when Nokian Tyres is able to make a more reliable estimate on the impacts of the COVID-19 to the company’s business. The authorization would be valid until the next AGM. The company will publish the possible Board decision on dividend payment separately, and at the same time confirm the pertinent record and payment dates.
Nokian Tyres kindly asks that those shareholders, who have given their proxy voting instruction to item 8 in the notice to the AGM published on 5 March 2020, to confirm their voting instruction or to change it by sending a new proxy with voting instructions as detailed in the release of 5 March 2020. In addition, the shareholders who have voted in advance are kindly asked to confirm or change their votes using the advance voting service through the company’s website.
Precautionary measures with the aim of holding the AGM as planned on April 2, 2020; AGM meeting venue changed
Due to the coronavirus (COVID-19) pandemic, Nokian Tyres imposes several precautionary measures with the aim of holding the AGM as planned on April 2, 2020 in compliance with all regulatory rules and restrictions imposed by the Finnish authorities. These measures are taken to enable that the meeting may convene and decide upon the agenda items, such as payment of dividend and authorizations while securing the health and safety of shareholders.
The meeting will be held only if the number of shareholders attending is small enough to allow the meeting to be arranged in accordance with the instructions and restrictions given by the relevant authorities. In these circumstances, we strongly encourage all shareholders who have preregistered or are about to preregister for the meeting to reconsider their participation. Instead they may vote in advance and follow the meeting remotely.
Those shareholders who have already preregistered for the meeting and do not wish to attend the meeting nor give a proxy are asked to cancel their prior notice of attendance by phone
+358 20 770 6892 or by e-mail at [email protected] until 10:00 a.m. EET on April 1, 2020.
A shareholder, who has a Finnish book-entry account, may vote in advance on certain items on the agenda of the AGM through the company’s website until 10:00 a.m. EET on March 30, 2020. The conditions and other instructions relating to the electronic advance voting can be found at www.nokiantyres.com/annualgeneralmeeting2020. The Finnish book-entry account number of the shareholder is needed for voting in advance.
Shareholders can follow the AGM through a live webcast at www.nokiantyres.com/annualgeneralmeeting2020. It is not possible to ask questions or vote during the webcast but shareholders may send questions in advance to the company’s management until 12:00 EET on April 1, 2020 to [email protected]
The venue of the AGM will be changed from Tampere-talo to Nokian Tyres’ headquarters at Pirkkalaistie 7, 37100 Nokia. The meeting is scheduled to start at 4 p.m. EET on Thursday April 2, 2020 as announced in the notice to the meeting. However, the reception will begin at the meeting venue at 3:30 p.m. EET.
The meeting and all the presentations, including the CEO’s review, will be short and meet the minimal requirements. The participation of the members of the Board of Directors and the Group Management Team is limited to the minimum. The proposed new member of the Board will not be present at the AGM but he will be presented via the meeting materials.
At the meeting, no coffee or refreshments will be served, and no product giveaways will be shared.
Persons who belong to risk groups based on their age or medical condition or who have travelled outside of Finland 14 days prior to the AGM, as well as persons with flu symptoms, are requested not to attend the meeting in person.
Nokian Tyres monitors the development of the coronavirus situation constantly and follows all instructions given by the Finnish authorities. Shareholders are advised to follow the corporate website to gain the latest instructions on the AGM.
Nokian Tyres plc
Board of Directors
Päivi Antola, tel. +358 10 401 7327
SVP, Corporate Communications and Investor Relations
Distribution: Nasdaq Helsinki, media and www.nokiantyres.com