Teleste - Decisions of general meeting

DECISIONS OF THE ANNUAL GENERAL MEETING OF TELESTE CORPORATION

Helsinki, Finland, 2012-04-03 16:30 CEST (GLOBE NEWSWIRE) -- 

TELESTE CORPORATION  STOCK EXCHANGE RELEASE  3 April 2012  AT 17:30



DECISIONS OF THE ANNUAL GENERAL MEETING OF TELESTE CORPORATION

The Annual General Meeting of Teleste Corporation held on 3 April 2012 adopted
the financial statements and the consolidated financial statements. The members
of the Board of Directors as well as the CEO were discharged from liability for
the financial year 2011. 

The Annual General Meeting resolved in accordance with the proposal of the
Board of Directors to distribute a dividend of EUR 0.14 per share for year 2011
for shares other than those held by the Company. The record date for the
dividend payment is 10 April 2012 and the dividend will be paid on 17 April
2012. 

The Annual General Meeting decided the number of members of the Board of
Directors to be six. Mr. Pertti Ervi, Mr. Esa Harju, Ms. Marjo Miettinen, Mr.
Pertti Raatikainen, Mr. Kai Telanne and Mr. Petteri Walldén were elected as
members of the Board of Directors. 

The annual remunerations to be paid to the members of the Board of Directors
were decided to remain unchanged so that EUR 40,000 is paid to the Chairman of
the Board of Directors and EUR 25,000 is paid to other members of the Board of
Directors. In addition, a meeting fee of EUR 500 per meeting will be paid to
each member of the Board of Directors. The annual remuneration will be paid so
that 40 per cent of the annual remuneration will be used for purchasing the
Company's shares for the members of the Board of Directors and the rest will be
paid in cash. 

The Annual General Meeting decided that the number of auditors of Teleste
Corporation shall be one. KPMG Oy Ab, Authorized Public Accountants, was
elected as the auditor of the Company and KPMG Oy Ab has appointed Mr. Esa
Kailiala, APA, as the principally responsible auditor. It was decided to pay
the auditor's compensation against an invoice approved by the Company. 

AUTHORIZING THE BOARD OF DIRECTORS TO DECIDE ON THE REPURCHASE OF THE COMPANY'S
OWN SHARES 

The Annual General Meeting decided to authorize the Board of Directors to
decide on repurchasing the Company's own shares in accordance with the proposal
of the Board of Directors. Based on the authorization, the Board of Directors
may repurchase a maximum of 1,400,000 own shares of the Company otherwise than
in proportion to the holdings of the shareholders by using the non-restricted
equity through public trading on NASDAQ OMX Helsinki Ltd at the market price
prevailing at the time of acquisition. 

The authorization to repurchase own shares is valid until the Annual General
Meeting for year 2013. 

ORGANISATIONAL MEETING OF THE BOARD OF DIRECTORS

The Board of Directors, which convened after the Annual General Meeting,
re-elected Marjo Miettinen as its Chairman. 



Teleste Corporation

Jukka Rinnevaara
CEO



ADDITIONAL INFORMATION:
CEO Jukka Rinnevaara, tel +358 2 2605 866 or +358 400 747 488

DISTRIBUTION:
NASDAQ OMX Helsinki
Media
www.teleste.com