The Annual General Meeting of Lassila & Tikanoja plc, which was held on 26 March 2007, adopted the financial statements for the financial year 2006 and released the members of the Board of Directors and the President and CEO from liability.
Dividend
The AGM resolved that a dividend of EUR 0.55, a total of EUR 21.2 million, as proposed by the Board of Directors, be paid for the financial year 2006. The dividend payment date was 5 April 2007.
Board of Directors
The Annual General Meeting confirmed the number of the members of the Board of Directors five (5). The following Board members were re-elected to the Board until the end of the following AGM: Lasse Kurkilahti, Juhani Lassila, Juhani Maijala and Soili Suonoja. Eero Hautaniemi was elected as a new member for the same term.
The Meeting resolved on the following annual fees: Chairman EUR 44,000, Vice Chairman EUR 29,000 and the ordinary members EUR 24,500. The fees shall be paid so that each member purchases company shares worth of the net amount of the fee (40%) in public trading on the Helsinki Stock Exchange within the next fourteen trading days, free from restrictions on trading, from the Annual General Meeting.
Auditor
PricewaterhouseCoopers Oy, Authorised Public Accountants, were elected auditors with Heikki Lassila, Authorised Public Accountant, acting as Principal Auditor.
Amendments to the Articles of Association
The Annual General Meeting approved the Board of Directors’ proposal to amend the Articles of Association in order to align them with the new Finnish Companies Act as follows:
1. Article 3 concerning the minimum and maximum share capital and the number of shares shall be deleted.
2. Article 4 concerning the book-entry system shall be amended so that all other provisions except for the reference that the Company’s shares belong to book-entry system shall be deleted.
3. Article 8 of Articles of Association shall be amended by changing the right to sign for the company to the right of representation.
4. In article 12 concerning the notice to the general meeting of shareholders and article 14 concerning the issues pertaining to the Annual General Meeting, amendments required by the new Finnish Companies Act will be made.
5. The reference to the article 12 of the articles of association in force included in article 15 concerning redemption obligation shall be amended to a reference to article 11.
Organisation of the Board of Directors
At its organising meeting following the Annual General Meeting, the Board of Directors re-elected Juhani Maijala as Chairman of the Board and Juhani Lassila as Vice Chairman.