LASSILA & TIKANOJA PLC STOCK EXCHANGE RELEASE 18 MARCH 2004
LASSILA & TIKANOJA PLC: DECISIONS OF ANNUAL GENERAL MEETING AND ORGANISATION OF THE BOARD
The Annual General Meeting held on 18 March 2004 approved the Board’s proposal to amend Article 5 of the Articles of Association and decided on the issues pertaining to the Annual General Meeting of shareholders under the Articles of Association.
1. A PROPOSAL BY THE BOARD OF DIRECTORS TO AMEND THE ARTICLES OF ASSOCIATION
The AGM approved the Board of Directors’ proposal that Article 5 of the Articles of Association be amended to read as follows:
“The Board of Directors shall be responsible for the management of the Company and for the proper arrangement of the Company's operations. The Board of Directors shall consist of no less than three (3) and no more than seven (7) members elected by the General Meeting of Shareholders.
The term of the members of the Board of Directors expires at the end of the next Annual General Meeting of Shareholders following his/her election.
No person who is 70 years of age or older can be elected to the Board of Directors.
The Board of Directors elects from among its members a chairman and a vice chairman of the Board of Directors.”
2. THE ISSUES PERTAINING TO THE ANNUAL GENERAL MEETING OF SHAREHOLDERS UNDER ARTICLE 14 OF THE ARTICLES OF ASSOCIATION
The AGM approved the Company’s and the Group’s income statements and balance sheets for the financial year 2003 and released the members of the Board of Directors and the President and CEO from liability.
The AGM decided that a dividend of EUR 1.20 be paid for the year 2003 as proposed by the Board of Directors. The dividend will be paid on 30 March 2004 to all shareholders registered in the shareholders’ register maintained by the Finnish Central Securities Depository Ltd on the record date on 23 March 2004.
The number of the members of the Board of Directors was confirmed five (5). Mr Lasse Kurkilahti and Mrs Soili Suonoja were re-elected to the Board of Directors. The Board of Directors comprises the following persons: Mr Heikki Hakala, Mr Lasse Kurkilahti, Mr Juhani Lassila, Mr Juhani Maijala and Mrs Soili Suonoja.
PricewaterhouseCoopers Oy, Authorised Public Accountants, were elected auditors.
In a meeting held after the Annual General Meeting the Board of Directors re-elected Juhani Maijala as Chairman of the Board and Heikki Hakala as Vice Chairman.
Helsinki, 18 March 2004
LASSILA & TIKANOJA PLC
Jari Sarjo
President and CEO
For additional information please contact Mr. Jari Sarjo, President and CEO, tel. +358 10 636 2810.