Ponsse Oyj - Decisions of general meeting

DECISIONS OF PONSSE PLC'S ANNUAL GENERAL MEETING

Vieremä, Finland, 2016-04-12 15:27 CEST (GLOBE NEWSWIRE) -- 

DECISIONS OF PONSSE PLC'S ANNUAL GENERAL MEETING

Ponsse Plc’s Annual General Meeting was held in Vieremä, Finland today, 12
April 2016. 

Financial statements
The AGM approved the parent company financial statements and the consolidated
financial statements, and members of the Board of Directors and the President
and CEO were discharged from liability for the 2015 financial period. 

Dividend
The AGM decided to authorise a dividend per share of EUR 0.55 per share for
2015 (dividends totalling EUR 15,381,799.40. No dividend will be paid to shares
owned by the company itself (33, 092 shares). The dividend payment record date
is 14 April 2016, and the dividends will be paid on 21 April 2016. 

Board of Directors
The number of Board members was confirmed as six (6). Mammu Kaario, Ossi
Saksman, Janne Vidgrén, Juha Vidgrén and Jukka Vidgrén were re-elected to the
Board of Directors and Matti Kylävainio was elected as a new member. For more
information on the Board members, please visit the Ponsse website
http://www.ponsse.com/english/investors/corporate_info/board.php. The Board's
period of office will last until the next AGM. 

Matti Kylävainio (42), M.Sc. (Econ.), works as the director of sawmill
operations of Keitele Group. Kylävainio has worked in Keitele Group, a
Kylävainio family company, since 1999, being engaged in various sales and
management positions as an export manager, sales director and, most recently,
as the director of sawmill operations since 2014. Kylävainio has been a member
of the Board of Directors of Keitele Group since 1992. Matti Kylävainio has
graduated from the Turku School of Economics, majoring in international
business. 

The AGM confirmed the annual remuneration payable to the Chairman of the Board
as EUR 46,000, the remuneration payable to the Vice Chairman as EUR 41,000 and
the remuneration payable to other members as EUR 35,000. 

At a Board meeting held after the AGM, Juha Vidgrén was elected Chairman of the
Board and Mammu Kaario was elected Vice Chairman. 

Auditor
PricewaterhouseCoopers Oy were appointed as the company's auditors, with Sami
Posti, Authorised Public Accountant, as the principal auditor. The AGM decided
to pay the auditors a fee in accordance with a reasonable invoice presented to
the company. 

Authorisation of the Board of Directors to decide on the acquisition of
treasury shares 
Annual General Meeting authorised the Board of Directors to decide on the
acquisition of treasury shares so that shares can be acquired in one or several
instalments to a maximum of 250,000 shares. The maximum amount corresponds to
approximately 0.89% of the company’s total shares and votes. 

The shares will be acquired in public trading organised by Nasdaq Helsinki
(“the Stock Exchange”). Furthermore, they will be acquired and paid according
to the rules of the Stock Exchange and Euroclear Finland Ltd. 

The Board may, pursuant to the authorisation, only decide upon the acquisition
of treasury shares using the company’s unrestricted shareholders’ equity. 

The authorisation is required for supporting the company’s growth strategy in
the company's potential mergers and acquisitions or other arrangements. In
addition, shares can be distributed to the company’s current shareholders, used
for increasing shareholders’ ownership value by invalidating shares after their
acquisition or used in personnel incentive systems. The authorisation includes
the right of the Board to decide upon all other terms and conditions in the
acquisition of treasury shares. 

The authorisation is proposed to be valid until the next Annual General
Meeting; however, no later than 30 June 2017. The previous authorisations are
cancelled. 

Authorisation of the Board of Directors to decide on share issues by assigning
treasury shares 
Annual General Meeting authorised the Board of Directors to decide on the
assignment  of treasury shares held by the company for payment or without
payment so that a maximum of 250,000 shares will be issued on the basis of the
authorisation. The maximum amount corresponds to approximately 0.89% of the
company’s total shares and votes. 

The authorisation includes the right of the Board to decide upon all other
terms and conditions of the share issue. Thus, the authorisation includes the
right to organise a special issue in deviation of the shareholders'
subscription rights under the conditions prescribed by law. 

The authorisation is proposed for use in supporting the Company’s growth
strategy in the Company's potential corporate acquisitions or other
arrangements. In addition, the shares can be issued to the Company’s current
shareholders, sold through public trading or used in personnel incentive
systems. 

The authorisation is proposed to be valid until the next Annual General
Meeting; however, no later than 30 June 2017. The previous authorisations are
cancelled. 

Profit bonus to personnel
The Annual General Meeting decided that the personnel employed by the Group
will be paid a profit bonus from 2015 of no more than EUR 80 per person per
working month over 2015. 

Minutes of the meeting
The minutes of the AGM will be available for inspection by shareholders at the
Ponsse Plc Customer Service Centre at Ponssentie 22, Vieremä, Finland, and on
the company website http://www.ponsse.com/investors/annual-general-meeting as
of 20 April 2016. 

Vieremä, 12 April 2016

PONSSE PLC
Board of Directors

FURTHER INFORMATION
Petri Härkönen, CFO, tel. +358 20 768 8608 or +350 50 409 8362

DISTRIBUTION
NASDAQ Helsinki Ltd
Principal media
www.ponsse.com

Ponsse Plc specialises in the sales, production, maintenance and technology of
cut-to-length method forest machines and is driven by genuine interest in its
customers and their business operations. Ponsse develops and manufactures
sustainable and innovative harvesting solutions based on customers’ needs. 

The company was established by forest machine entrepreneur Einari Vidgrén in
1970, and it has been a leader in timber harvesting solutions based on the
cut-to-length method ever since. Ponsse is headquartered in Vieremä, Finland.
The company’s shares are quoted on the NASDAQ OMX Nordic List.

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