HKScan Oyj - Decisions of general meeting

Resolutions passed by the Annual General Meeting of HKScan Corporation

HKScan Corporation      Stock Exchange Release           14 April 2015   at
3:00 pm 



Resolutions passed by the Annual General Meeting of HKScan Corporation

The Annual General Meeting of HKScan Corporation, held on 14 April 2015 in
Turku, adopted the parent company's and consolidated financial statements and
discharged the members of the Board of Directors and the CEO from liability for
the year 2014. 


Resolutions by the AGM based on proposals of the Board of Directors:


Dividend

The AGM resolved that dividend of EUR 0.10 and an additional dividend of EUR
0.39 be paid for each share for the year 2014. The dividend shall be paid to
shareholders who are registered as shareholders in the Company's shareholders'
register maintained by Euroclear Finland Ltd on the record date 16 April 2015.
The payment date is 23 April 2015. 


Election of the members of the Board of Directors and remuneration

The AGM resolved that the number of actual members of the Board of Directors to
be six (6) and that two (2) deputy members will be elected to the Board of
Directors. 

The current Board members Niels Borup, Tero Hemmilä, Teija Andersen and Henrik
Treschow were re-elected for a further term of office, and Mikko Nikula and
Pirjo Väliaho were elected as new members of the Board of Directors. In
addition, the current deputy Board member Per Nilsson was re-elected for a
further term of office, and Marko Onnela was elected as new deputy member of
the Board of Directors. At the organizational meeting after the AGM, the Board
elected Mikko Nikula as Chairman and re-elected Niels Borup as Vice Chairman. 

The AGM resolved that the amount of the annual remuneration payable to the
members of the Board of Directors for the next term of office is as follows:
EUR 22 100 to Board member, EUR 27 100 to Vice Chairman of the Board and EUR 54
250 to Chairman of the Board. An annual remuneration of EUR 7 450 is paid to
deputy member of the Board of Directors. To Chairmen of the Board committees
(Audit, Nomination, Compensation and Working Committee) an annual remuneration
of EUR 5 000 is paid. In addition, a compensation of EUR 550 per a meeting is
paid for all the Board members for each attended Board and Board committee
meeting. Travel expenses will be compensated according to the Company's travel
policy. 


Auditors

PricewaterhouseCoopers Oy, an audit firm chartered by the Central Chamber of
Commerce, with Jouko Malinen, APA, as the main auditor was elected as the
actual auditor until the close of the next Annual General Meeting. The
remuneration of the auditor will be paid according to the auditor's invoice
accepted by the company. 


Authorizations to the Board of Directors

The AGM gave the following two authorizations to the Board:

(1) The Board of Directors was authorized to decide on share issue as well as
issue of option rights and other special rights entitling to shares, pursuant
to Chapter 10 of the Companies Act as follows: 

The shares issued under the authorization are new or those in the company's
possession Series A shares of the Company. Under the authorization, a maximum
of 2 500 000 Series A shares, which corresponds to approximately 4.50 per cent
of all of the shares in the Company and approximately 5.00 per cent of all the
Series A shares in the Company, can be issued. The shares, option rights or
other special rights entitling to shares can be issued in one or more tranches. 

The Board of Directors may resolve upon issuing new Series A shares to the
Company itself without consideration. However, the Company, together with its
subsidiaries, cannot at any time own more than 10 per cent of all its
registered shares. 

The Board of Directors is authorized to resolve on all terms for the share
issue and granting of the special rights entitling to shares. The Board of
Directors is authorized to resolve on a directed share issue and issue of the
special rights entitling to shares in deviation from the shareholders'
pre-emptive right. A directed share issue always requires a weighty economic
reason for the Company and the authorization may not be utilized inconsistently
with the principle of equal treatment of shareholders. 

The authorization to issue new shares, options as well as other instruments
entitling to shares was granted in order to enable the Board of Directors to
decide flexibly on capital markets transactions that are beneficial for the
Company, such as securing the financing needs of the Company or implementing
acquisitions. In addition the authorization may be used in order to implement
share based incentive arrangements directed to the management of the company
and the Group companies. 

The authorization is effective until 30 June 2016, and it revokes authorization
granted on 10 April 2014 by the Annual General Meeting to the Board of
Directors to resolve on an issue of shares, options as well as other
instruments entitling to shares. 


(2) The Board of Directors was authorized to decide on the purchase of the
Company's own Series A shares and/or on the acceptance the Company's own Series
A shares as pledge as follows: 

The aggregate number of own Series A shares to be acquired and/or accepted as
pledge shall not exceed 2 500 000 Series A shares in total, which corresponds
to approximately 4.50 per cent of all of the shares in the Company and
approximately 5.00 per cent of all the Series A shares in the Company. However,
the Company together with its subsidiaries cannot at any moment own and/or hold
as pledge more than 10 per cent of all the shares in the Company. 

The Company's own Series A shares may be purchased on the basis of the
authorization only by using non-restricted equity which consequently reduces
the amount of the funds available for distribution of profits. The Company's
own Series A shares may be purchased for a price quoted in public trading on
the purchase day or for a price otherwise determined by the market. 

The shares may be purchased under the authorization in order to develop the
capital structure of the Company. In addition, the shares may be repurchased
under the proposed authorization in order to finance or carry out acquisitions
or other arrangements, as a part of incentive schemes or to be transferred for
other purposes, or to be cancelled. 

The Board of Directors shall resolve upon the method of purchase. Among other
means, derivatives may be utilized in purchasing the shares. The shares may be
purchased in a proportion other than that of the shares held by the
shareholders (directed purchase). A directed purchase of the Company's own
shares always requires a weighty economic reason for the Company and the
authorization may not be utilized inconsistently with the principle of equal
treatment of shareholders. 

The authorization is effective until 30 June 2016. It revokes the authorization
granted on 10 April 2014 by the Annual General Meeting to the Board of
Directors to acquire the company's own Series A shares and/or to accept as
pledge. 


The minutes of the Annual General Meeting will be available (in Finnish) on
www.hkscan.com no later than on 28 April 2015. 


HKScan Corporation
Board of Directors


For further information:
Hannu Kottonen, CEO, HKScan Corporation. Kindly submit a call-back request to
Marja-Leena Dahlskog, SVP Communications, firstname.surname@hkscan.com, tel.
+358 10 570 2142 


HKScan is the leading Nordic meat expert. We produce, market and sell
high-quality, responsibly-produced pork, beef, poultry and lamb products,
processed meats and convenience foods under strong brand names. Our customers
are the retail, food service, industrial and export sectors, and our home
markets comprise Finland, Sweden, Denmark and the Baltics. We export to close
to 50 countries. In 2014, HKScan had net sales of approximately EUR 2.0 billion
and some 7 700 employees. 


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