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2011-03-22 18:15:00 CET 2011-03-22 18:15:14 CET REGULATED INFORMATION Vacon - Decisions of general meetingVacon Plc's Annual General MeetingVacon, Stock Exchange Release, March 22, 2011 at 7.15 p.m. Vacon Plc's annual general meeting was held on 22 March 2011 in Vaasa. The general meeting approved the company's financial statement for the fiscal year 2010 and discharged the members of the board of directors and the President and CEO from liability for the fiscal year 2010. The general meeting adopted the proposals of the board of directors that a dividend of EUR 1.00 will be paid per share. The general meeting adopted the proposals of the board of directors to authorize the board of directors to resolve to repurchase shares in the company and to issue shares. The financial statement of Vacon Plc for the fiscal year 2010 was approved. The general meeting adopted the proposal by the board of directors to pay a dividend of EUR 1.00 per share or EUR 15,214,435 in total. The record day for the dividend payment is 25 March 2011. The dividend will be paid on 4 April 2011. The general meeting discharged the members of the board of directors and the President and CEO from liability for the fiscal year 2010. The number of members of the board of directors was confirmed to be seven (7). Pekka Ahlqvist, Jari Eklund, Jan Inborr, Juha Kytölä, Panu Routila, Mika Vehviläinen and Riitta Viitala were re-elected as members of the board of directors. Jan Inborr was re- elected chairman and Mika Vehviläinen was elected vice chairman of the board of directors at the constitutory meeting of the board of directors. The general meeting resolved to pay the members of the board of directors a basic fee of EUR 1,250 a month and an additional fee of maximum EUR 2,500 a month. It was resolved that the chairman of the board of directors shall be paid twice the basic fee and twice the additional fee paid to the members of the board of directors. The number of auditors was confirmed to be one (1). PricewaterhouseCoopers Oy was elected as the company's auditor with Markku Katajisto as responsible auditor. The general meeting adopted the proposal of the board of directors to authorize the board of directors to resolve to repurchase shares in the company. The proposal of the board of directors was reported in the stock exchange release of 17 February 2011. The general meeting adopted the proposal of the board of directors to authorize the board of directors to decide on share issuance. The proposal of the board of directors was reported in the stock exchange release of 17 February 2011. All decisions adopted at the general meeting were made unanimously unless otherwise stated in the minutes of the meeting. VACON PLC Board of Directors Further information: * President and CEO, Vesa Laisi, Phone +358 (0)40 837 1510 * Chairman of the Board, Jan Inborr, Phone +358 (0)400 203 612 Press contact: * Director, Corporate Communications, Sebastian Linko, Phone +358 40 837 1634 Vacon in brief: Vacon is driven by a passion to design, manufacture and sell only the best AC drives on the planet - and nothing else. AC drives can be used to control electric motors or to help generate power from renewable sources. Vacon has R&D and production units in Finland, the United States, China and Italy, and sales offices in 27 countries. In 2010, Vacon had revenues of EUR 338 million and globally employed 1,300 people. Vacon's shares (VAC1V) are listed and publicly traded on the Helsinki Stock Exchange. Driven by Drives, www.vacon.com DISTRIBUTION: NASDAQ OMX Helsinki Financial Supervisory Authority Main Media [HUG#1499163] |
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