Cencorp - Decisions of general meeting

DECISIONS AT CENCORP'S ANNUAL GENERAL MEETING AND ORGANIZING OF THE BOARD OF DIRECTORS

CENCORP CORPORATION STOCK EXCHANGE RELEASE      April 23, 2014 at 14.35 Finnish
time 



DECISIONS AT CENCORP'S ANNUAL GENERAL MEETING AND ORGANIZING OF THE BOARD OF
DIRECTORS 



Cencorp Corporation's Annual General Meeting was held on 25 April 2014 in
Mikkeli, Finland. The AGM approved the 2013 financial statements and discharged
the members of the Board and the President and CEO from liability for the
financial year 2013. According to the Board' proposal, it was decided that no
dividend for the financial year 2013 will be distributed. It was also decided
that the loss for the financial period that ended on 31 December 2013 will be
entered in retained earnings. 



It was decided that 4 members will be elected to the board of directors of
Cencorp. MSc (economics) Mr. Sauli Kiuru (b. 1972) who was elected as new board
member, works as Chairman of the Board of Gaselli Capital Oy and CEO of Siesta
Group Oy. Previously Mr. Kiuru has been working as CFO and board member of
Barona Group Oy, as auditor in KPMG and as secretary of the Auditor´s Committee
of Finnish Central Chamber of Commerce. Mr. Kiuru has wide experience
concerning board work in growth companies. Sauli Kiuru is the chairman of the
board of Siesta Group Oy, BiiSafe Oy and Stata Oy. He has been board member of
Cencorp previously in years 2006 - 2008. Gaselli Capital Oy which is controlled
by Mr. Kiuru owns 95.000.000 Cencorp shares, which represents approx. 11,1
percent of the share capital of Cencorp. 



Ma(ed.)Mrs. Marjukka Karttunen, industrial counsellor Mr. Hannu Savisalo and
CEO Mr. Iikka Savisalo continue as old Board members in the Cencorp
Corporation´s Board of Directors. 



At its organizing meeting following the AGM, Cencorp's Board of Directors
elected Hannu Savisalo as the Chairman and Marjukka Karttunen as the Vice
Chairman of the Board. The Board of Directors decided, due to the scope of the
company's business, that it is not necessary to establish any separate Board
committees. 



The AGM decided that an annual remuneration of EUR 40,000 will be paid to the
Chairman and to the Vice Chairman of the Board, and EUR 30,000 to the members
of the Board of Directors. 



Ernst & Young Oy, Authorized Public Accounting Firm, continues as the Company
auditor and Mikko Rytilahti, APA, as the responsible auditor. 



In Mikkeli, April 25, 2014



CENCORP CORPORATION





For more information:

Iikka Savisalo

President and CEO

Cencorp Oyj

Tel. +358 40 521 6082,

Email: iikka.savisalo@cencorp.com







Distribution:

NASDAQ OMX, Helsinki

Main media

www.cencorp.com



Cencorp Corporation is a leading provider of industrial automation solutions.
The equipment in the product portfolio include, automated applications of
odd-form assembly and  depaneling for the electronic boards, testing equipment
and advanced materials processing by laser. All Cencorp's offering improves the
efficiency of the customers' production. Cencorp has clean technology,
especially photovoltaic (PV) solutions as its other business segment. Cencorp
now offers its automated manufacturing technology of the PV modules,
manufactures and sells photovoltaic modules, based on Cencorp´s own technology
as well as key components of photovoltaic modules. The product range also
includes EMI shielding solutions, RFID antennas, other flexible circuits
including for example conductive back sheets used in photovoltaic modules and
mobile phone antennas. Cencorp's head office is located in Mikkeli, Finland.
The company is part of the Finnish Savcor Group.