Panostaja Oyj - Notice to general meeting

PANOSTAJA OYJ´S INVITATION TO THE ANNUAL GENERAL MEETING

Panostaja Oyj        Annual General Meeting Invitation            December 9,
2016, 10:30 am 

Panostaja Oyj’s Annual General Meeting will be held on Tuesday January 31, 2017
at 1:00 pm at Technopolis Yliopistonrinne, Häggman Auditorium, Kalevantie 2,
Tampere. The reception of those who have registered for the General Meeting
will begin at 12:30 pm. 

A. MATTERS ON THE AGENDA OF THE GENERAL MEETING

At the General Meeting, the following matters will be considered:

1.      Opening of the meeting

2.      Calling the meeting to order

3.      Appointment of persons to scrutinize the minutes and supervise the
counting of votes 

4.      Recording the legality of the meeting

5.      Recording the attendance at the meeting and adoption of the list of
votes 

6.      Presentation of the financial statements, the consolidated financial
statements, the report of the Board of Directors and the auditors’ report for
the financial period November 1, 2015-October 31, 2016. 

- Presentation of the CEO’s review

7.      Adoption of the financial statements and the consolidated financial
statements 

8.      Use of profit shown on the balance sheet and authorization of the Board
of Directors to decide on the distribution of assets 

Panostaja Oyj’s Board of Directors proposes to the General Meeting that a
dividend of EUR 0.04 per share be paid for the financial period November 1,
2015 – October 31, 2016. The dividend will be paid to those shareholders who on
the record date of the payment, February 2, 2017, are recorded in the company’s
share register maintained by Euroclear Finland Oy. The Board of Directors
proposes that the dividend be paid on February 9, 2017. 

The Board of Directors also proposes that the General Meeting authorize the
Board of Directors to decide, at its discretion, on the potential distribution
of assets to shareholders, should the company's financial status permit this,
either as dividends or as repayment of capital from the invested unrestricted
equity fund. The maximum distribution of assets performed on the basis of this
authorization totals EUR 4,700,000. It is proposed that the authorization
include the right of the Board of Directors to decide on all other terms and
conditions relating to said asset distribution. It is also proposed that the
authorization remain valid until the start of the next Annual General Meeting. 

9.      Resolution on the discharge from liability of the members of the Board
of Directors and the CEO 

10.   Resolution on the remuneration of the members of the Board of Directors

The shareholders who represent more than 10% of the company’s shares and votes
have informed that, at the General Meeting, they will propose that the
remuneration of the members of the Board of Directors remain unchanged and that
the members to be elected be paid the following remuneration for the term that
begins at the end of the General Meeting and ends at the end of the next Annual
General Meeting: EUR 40,000 for the Chairman of the Board of Directors and EUR
20,000 for each of the other members of the Board of Directors. According to
the proposal, approximately 40% of the remuneration remitted to the members of
the Board of Directors will be paid on the basis of the share issue
authorization given to the Board of Directors, by issuing company shares to
each member of the Board of Directors if such member of the Board of Directors
does not own more than one percent (1%) of the company’s shares on the date of
the General Meeting. If the holding of a member of the Board of Directors on
the date of the General Meeting is over one percent (1%) of all company shares,
the remuneration will be paid in full in monetary form. Furthermore, the
proposal states that the travel expenses of the members of the Board of
Directors will be paid based on the maximum amount specified in the grounds for
payment of travel expenses ordained by the Finnish Tax Administration as valid
from time to time. 

11.   Resolution on the number of members of the Board of Directors

The shareholders who represent more than 10% of the company’s shares and votes
have informed that, at the General Meeting, they will propose that the number
of members of the Board of Directors of the company be set at six (6). 

12.   Election of members of the Board of Directors

The shareholders who represent more than 10% of the company’s shares and votes
have informed that, at the General Meeting, they will propose that, for the
term that begins at the end of the General General Meeting and ends at the end
of the next Annual General Meeting, the following persons be re-elected to the
Board of Directors: Jukka Ala-Mello, Eero Eriksson, Mikko Koskenkorva, Tarja
Pääkkönen, Hannu Tarkkonen and Antero (Antti) Virtanen. 

13.   Resolution on the remuneration of the auditors

The Board of Directors proposes to the General Meeting that the elected
auditors be paid remuneration based on a reasonable invoice. 

14.   Resolution on the number of auditors

The Board of Directors proposes to the General Meeting that the number of
auditors be set at two (2). 

15.   Election of auditors

The Board of Directors proposes to the General Meeting that Authorized Public
Accountants PricewaterhouseCoopers Oy and Authorized Public Accountant Markku
Launis be re-elected as auditors for the period that ends at the end of the
Annual General Meeting following the election. Authorized Public Accountants
PricewaterhouseCoopers Oy has stated that Authorized Public Accountant Lauri
Kallaskari will serve as the chief responsible auditor. 

16.   Authorizing the Board of Directors to decide on the acquisition of the
company’s own shares 

The Board of Directors proposes to the General Meeting that the Board of
Directors be authorized to decide on the acquisition of the company’s own
shares in one or more installments on the following conditions: 

The number of the company’s own shares to be acquired may not exceed 5,200,000
in total, which corresponds to approximately 9.9% of the company’s total amount
of shares. By virtue of the authorization, the company’s own shares may be
acquired using unrestricted equity only. The company’s own shares may be
acquired at the prevailing market price formed in public trading on the NASDAQ
Helsinki Oy on the date of acquisition or otherwise at the prevailing market
price. 

The Board of Directors will decide how the company’s own shares are to be
acquired. The company’s own shares may be acquired in deviation from the
proportion of ownership of the shareholders (directed acquisition). 

The authorization issued at the Annual General Meeting on February 2, 2016 to
decide on the acquisition of the company’s own shares is canceled by this
authorization. 

The authorization will remain valid until July 31, 2018.

17.   Decision that, regarding the so-called unclaimed shares entered in the
joint book-entry account, the right to share incorporated in the book-entry
system and the rights such share carries have been forfeited 

As the shares of Panostaja Oyj were incorporated in the book-entry system on
March 13, 1999, the shareholders were to present their share certificates and
request that their shares be registered in their book-entry account within the
registration period specified in the decision by the General Meeting to
incorporate the shares in the book-entry system, i.e. no later than March 12,
1999 which date was the last date of registration in accordance with Chapter 3
a, Section 2 of the former Companies Act (734/1978). In accordance with Chapter
3 a, Section 3 of the former Companies Act (734/1978), the Central Securities
Depository opened a joint book-entry account in the name of the company for
such shareholders who failed to present their share certificates and request
that their shares be registered latest on the aforementioned last date of
registration. 

According to Section 8, subsection 2 of the Act on Implementation of the
current Limited Liability Companies Act (21.7.2006/625), the General Meeting
may, in accordance with Chapter 4, Section 10, subsection 2 of the current
Limited Liability Companies Act (21.7.2006/624), once ten years has elapsed
since the last date of registration and from the entry into force of the
current Companies Act, decide that, regarding the shares entered in the joint
book-entry account, the right to share incorporated in the book-entry system
and the rights such share carries have been forfeited, after which resolution
the provisions on treasury shares apply to the forfeited share. The current
Limited Liability Companies Act entered into force on September 1, 2006. 

The Board of Directors proposes to the General Meeting that the General Meeting
decide in accordance with Chapter 4, Section 10, subsection 2 of the Limited
Liability Companies Act that, regarding the shares entered in the joint
book-entry account referred to above, the right to shares incorporated in the
book-entry system and the rights such shares carry have been forfeited in
accordance with Chapter 4, Section 10, subsection 2 of the Limited Liability
Companies Act and that the Board of Directors be authorized to take all
measures required by said decision. 

18.   Closing of the meeting

 
B. DOCUMENTS OF THE GENERAL MEETING

The aforementioned proposals by the Board of Directors and shareholders on the
agenda of the General Meeting and this invitation to the General Meeting are
available at Panostaja Oyj’s website at
www.panostaja.fi/sijoittajille/yhtiokokousmateriaali. Panostaja Oyj’s Annual
Report, which includes the company’s financial statements, the consolidated
financial statements, the report of the Board of Directors and the auditors’
report, will be made available on the aforementioned website no later than
January 10, 2017. The proposals by the Board of Directors and shareholders and
the financial statements documents will also be available at the General
Meeting, and copies of them and of this invitation will be sent to shareholders
upon request. The minutes of the General Meeting will be available on said
website by February 14, 2017. 



C. INSTRUCTIONS FOR THE PARTICIPANTS IN THE GENERAL MEETING

1.      Right to participate and registration

Each shareholder, who is registered on January 19, 2017 in the company’s
shareholders’ register maintained by Euroclear Finland Oy, has the right to
participate in the General Meeting. A shareholder whose shares are registered
in his/her/its personal Finnish book-entry account is registered in the
company’s shareholders’ register. 

A shareholder who is registered in the company’s shareholders’ register and who
wishes to participate in the General Meeting must register for the General
Meeting no later than January 26, 2017 at 4:00 pm. Registration to the General
Meeting may be done: 

a)     by telephone on +358 50 685 70 on business days between 8:00 am and 4:00
pm Finnish time; 

b)     by e-mail to yhtiokokous@panostaja.fi; or

c)     by post to Panostaja Oyj, Milla Store, Kalevantie 2, FI-33100 Tampere.

The letter or e-mail of registration must have arrived before the end of the
registration period. 

In connection with the registration, the person registering should state the
name and personal identification number/business registration number of the
shareholder as well as the name of a possible assistant or proxy representative
and the personal identification number of a proxy representative. The personal
data submitted by shareholders to Panostaja Oyj will only be used in connection
with the General Meeting and the processing of registrations required for it. 

The shareholder, his/her/its authorized representative or proxy representative
must, where necessary, be able to prove his/her identity and/or right or
representation at the meeting venue. 


2.      Use of a proxy representative and powers of attorney

A shareholder may participate in the General Meeting and use his/her/its rights
at the General Meeting by means of a proxy representation. 

A shareholder’s proxy representative must present a dated power of attorney, or
he/she/it must in some other credible way demonstrate that he/she/it has been
authorized to represent the said shareholder. If a shareholder participates in
the General Meeting by means of several proxy representatives representing the
shareholder with shares at different book-entry accounts, the shares based on
which each proxy representative is representing the shareholder must be
specified at the time of registration for the General Meeting. 

Original powers of attorney should be sent by post to Panostaja Oyj, Milla
Store, Kalevantie 2, 33100 Tampere, Finland before the end of the registration
period. 


3.      Holders of nominee-registered shares

A holder of nominee-registered shares has the right to participate in the
General Meeting by virtue of those shares based on which he/she/it, on January
19, 2017, would be entitled to be registered in the shareholders’ register of
the company maintained by Euroclear Finland Oy. The right to participate in the
General Meeting also requires that the shareholder on the basis of such shares
is temporarily registered in the shareholders’ register of the company
maintained by Euroclear Finland Oy no later than January 26, 2017 by 10:00 am.
As regards nominee-registered shares, this constitutes due registration for the
General Meeting. 

The holders of nominee-registered shares are advised to request from their
custodian bank, in good time, the instructions they need concerning
registration in the company’s temporary shareholders’ register, the issuing of
powers of attorney, and registration for the General Meeting. The account
management organization of the custodian bank must register the holder of a
nominee-registered share who wishes to participate in the Annual General
Meeting in the company’s temporary shareholders’ register no later than January
26, 2017 by 10:00 am. 


4.      Other instructions/information

A shareholder who is present at the General Meeting has the right to present
questions with respect to matters to be considered at the Meeting pursuant to
Chapter 5, Section 25 of the Companies Act. 

On December 9, 2016, the date of the invitation to the General Meeting,
Panostaja Oyj has a total of 52,533,110 shares and votes. 

Coffee catering will be available before the General Meeting from 12:30 pm.

Cars can be parked in the Technopolis Yliopistonrinne parking garage and on the
parking deck, which can be accessed through Ratapihankatu, and e.g. the Hämppi,
Koskikeskus and Tulli parking garages in the vicinity. 

 
Tampere, December 9, 2016

PANOSTAJA OYJ BOARD OF DIRECTORS

 
Further information:
CEO Juha Sarsama, Panostaja Oyj, +358 (0)40 774 2099