Lassila & Tikanoja - Decisions of general meeting

Resolutions by Lassila & Tikanoja plc's Annual General Meeting

Helsinki, Finland, 2011-03-17 16:45 CET (GLOBE NEWSWIRE) -- Lassila & Tikanoja
plc  Stock exchange release  17 March 2011 5.45 pm 

The Annual General Meeting of Lassila & Tikanoja plc, which was held today on
17 March 2011, adopted the financial statements and consolidated financial
statements for the financial year 2010 and discharged the members of the Board
of Directors and the President and CEO from liability. The Annual General
Meeting resolved on the payment of the dividend, the composition and
remuneration of the Board of Directors, the election of the Auditor and on the
decrease of share premium fund. 

DIVIDEND

The Annual General Meeting resolved that a dividend of EUR 0.55 per share, as
proposed by the Board of Directors, be paid for the financial year 2010 on the
basis of the balance sheet adopted. The dividend will be paid to a shareholder
registered in the Company's shareholder register maintained by Euroclear
Finland Ltd on 22 March 2011, which is the record date for the dividend
payment. No dividend will be paid on shares held by the company. The dividend
will be paid on 29 March 2011. 

COMPOSITION AND REMUNERATION OF THE BOARD OF DIRECTORS

The number of the members of the Board of Directors was confirmed six (6). The
following Board members were re-elected to the Board until the end of the
following AGM: Heikki Bergholm, Eero Hautaniemi, Matti Kavetvuo, Hille Korhonen
and Miikka Maijala. Sakari Lassila was elected as a new member for the same
term. 

The Annual General Meeting resolved on the following annual fees: Chairman EUR
46,250, Vice Chairman EUR 30,500 and the ordinary members EUR 25,750. The fees
shall be paid so that each member purchases Company shares worth of the net
amount of the fee (40%) within the next fourteen trading days, free from
restrictions on trading, from the Annual General Meeting. In addition, the
following meeting fees will be paid: Chairman EUR 1,000, Vice Chairman EUR 700
and members EUR 500 per meeting. The meeting fees will also be paid to the
Chairman and to the members of the committees established by the Board as
follows: Chairman EUR 700 and members EUR 500. 

AUDITOR

The Annual General Meeting elected PricewaterhouseCoopers Oy, Authorised Public
Accountants, as Auditor of the Company until the close of the next Annual
General Meeting. The meeting resolved that the fees of the Auditor will be paid
according to invoicing. 

DECREASE OF THE SHARE PREMIUM FUNDThe Annual General Meeting resolved on that the share premium fund of the
balance sheet at 31 December 2010 be decreased by EUR 50,672,564.52 by
transferring all the funds in the share premium fund to the unrestricted equity
fund. 

According to the Finnish Companies Act effective until 31 August 2006 the share
premium fund belongs to restricted equity. The Companies Act currently
effective no longer recognises the concept of share premium fund. However,
according to the transition provisions, the share premium fund can be decreased
in compliance with what has been regulated for in the decrease of the share
capital. 

The decrease of the fund will enhance the flexibility of the capital structure
and increase the distributable equity. 

EFFECT OF THE DIVIDEND ON LASSILA & TIKANOJA PLC'S SHARE OPTION SCHEMES

The dividend resolved by the Annual General Meeting reduces the exercise prices
of shares subscribed for with the 2005C and 2008 option rights in accordance
with the terms and conditions of the share option schemes. As from 22 March
2011, the record date for the payment of dividends, the exercise prices of
shares subscribed for with the option rights are: 



Option  Exercise price as of    Exercise price   Exercise period  ISIN    Tradin
         22 March 2011,          before,                           code   g code
         EUR/share               EUR/share                                      
--------------------------------------------------------------------------------
 2005C                   26.80            26.87  2 November 2009  FI0009  LAT1VE
                                                  - 31 May 2011   618391  W305  
--------------------------------------------------------------------------------
  2008                   16.20            16.27  1 November 2010  FI0009  LAT1VE
                                                  31 May 2012     648190  W108  
--------------------------------------------------------------------------------

The minutes of the Annual General Meeting will be available on the company
website www.lassila-tikanoja.com no later than 31 March 2011. 


LASSILA & TIKANOJA PLC


Jari Sarjo
President and CEO

For additional information, please contact Jari Sarjo, President and CEO, tel.
+358 10 636 2810. 

Lassila & Tikanoja specialises in environmental management and property and
plant support services and is a leading supplier of wood-based biofuels,
recovered fuels and recycled raw materials. With operations in Finland, Sweden,
Latvia and Russia, L&T employs 8,700 persons. Net sales in 2010 amounted to EUR
598 million. L&T is listed on NASDAQ OMX Helsinki. 

Distribution:
NASDAQ OMX Helsinki
Major media
www.lassila-tikanoja.com