Kuntarahoitus Oyj - Decisions of general meeting

Resolutions by the Annual General Meeting of Municipality Finance Plc held on 26 March 2015

STOCK EXCHANGE RELEASE 26 MARCH 2015 at 1.30 p.m.

Municipality Finance Plc

Resolutions by the Annual General Meeting of Municipality Finance Plc held on
26 March 2015 

STOCK EXCHANGE RELEASE 26 MARCH 2015 at 1.30 p.m.



Resolutions by the Annual General Meeting of Municipality Finance Plc held on
26 March 2015 

The Annual General Meeting of Municipality Finance Plc held on 26 March 2015
adopted the company's financial statements and discharged the members of the
Board of Directors and the CEO from liability for the financial year 2014. The
Annual General Meeting decided that no dividend will be distributed. 

Board of Directors and remuneration

The number of Board members was confirmed at eight. Fredrik Forssell, Tapani
Hellstén, Teppo Koivisto, Eva Liljeblom, Sirpa Louhevirta, Tuula Saxholm, Asta
Tolonen and Juha Yli-Rajala were re-elected as Board members. Additional
information on the Board members can be found on the company website at
www.munifin.fi. At its constitutive meeting, the Board of Directors appointed
Eva Liljeblom as its Chairman and Tapani Hellstén as the Vice Chairman. 

The Annual General Meeting confirmed the fees payable to Board members for the
term 2015-2016. The fees correspond with the fees paid for the previous term:
annual remuneration of a Board member EUR 15,000, annual remuneration of the
Vice Chairman of the Board EUR 18,000, annual remuneration of the Chairman of
the Board EUR 30,000 and a meeting fee of EUR 500 per Board and committee
meeting to members and EUR 800 per meeting to the chairmen. 

Election of the auditor and fees

KPMG Oy Ab, Authorized Public Accountants, was elected as the company's auditor
with Marcus Tötterman, Authorized Public Accountant, as chief audit. The
auditor's fees will be paid against the invoices approved by the company. 

Amendment of the Articles of Association

The Annual General Meeting decided to amend the company's Articles of
Association by removing a reference to the statute number of the Act on Credit
Institutions. 

Decisions with regard to the Shareholders' Nomination Committee

The Annual General Meeting decided that in the future the Shareholders'
Nomination Committee will permanently consist of the three largest shareholders
and the Association of Finnish Local and Regional Authorities, each of which
will nominate a representative to the Nomination Committee unless the Annual
General Meeting decides otherwise on a later date. The intention of the
decision is to remove the process in the course of which the composition of the
Nomination Committee has been reviewed annually based on which parties are the
three largest shareholders. Due to the Articles of Association, no rapid
changes can occur in the ownership structure of the company, and therefore the
annual review of the largest shareholders is not necessary for the
administration of the Committee. The effects of the changes in the shareholders
will be taken into account when such changes in the ownership structure occur. 

The Annual General Meeting decided that, due to the renewed Act on Credit
Institutions, the previous decisions by the Annual General Meeting on the
operations of the Nomination Committee will be replaced by a new decision on
the operations of the Nomination Committee which will take into account the
renewed act. 

Additional information on the company's operations in 2014 is available in the
company's Annual Report, which can be downloaded in PDF format from the company
website at www.munifin.fi. 

Municipality Finance Plc

Pekka Averio
President and CEO
Tel. +358 500 406 856

Measured by the group's balance sheet, MuniFin (Municipality Finance Plc) is
Finland's third largest credit institution. The company is owned by Finnish
municipalities, the public sector pension fund Keva and the Republic of
Finland. MuniFin is an integral part of the Finnish public economy. 

MuniFin's balance sheet totals EUR 30 billion. Funding for the company is
primarily obtained through the international capital markets. MuniFin's funding
is guaranteed by the Municipal Guarantee Board. 

MuniFin's mission is to ensure competitive funding for its customers in all
market conditions. The company's customers are Finnish municipalities,
municipal federations, municipally controlled companies and non-profit housing
cor­porations. A significant portion of lending is used for socially
responsible projects such as building hospitals, healthcare centers, schools,
day care centers and homes for the elderly. 

The Municipality Finance Group also includes the subsidiary company, Financial
Advisory Services Inspira Ltd. 

Read more: www.munifin.fi

Attachments:

Kuntarahoitus Yhtiokokoustiedote 2015 20150326 EN.pdf