Salcomp Oyj - Decisions of general meeting

DECISIONS AT SALCOMP'S ANNUAL GENERAL MEETING 2011

Salo, Finland, 2011-03-24 15:20 CET (GLOBE NEWSWIRE) -- Salcomp Plc       Stock
Exchange Release 24 March 2011 at 16:20 Finnish time 



Salcomp Plc's Annual General Meeting was held on 24 March 2011 in Helsinki. The
AGM approved the 2010 financial statements and discharged the members of the
Board and the President and CEO from liability for the financial year. 



The AGM decided that no dividend for 2010 will be paid.



The AGM decided that the number of the members of the Board of Directors
remains at five and the Board composition unchanged. The AGM elected Carl
Engström, Mats Heiman, Petri Kähkönen, Jukka Rinnevaara and Kari Vuorialho as
members of the Board of Directors until the conclusion of the 2012 Annual
General Meeting. The AGM appointed Carl Engström as the Chairman and Kari
Vuorialho as Vice Chairman. The AGM decided to leave the remuneration for the
Board of Directors unchanged: the remuneration for a full term will be EUR
40,000 for the Chairman, EUR 32,000 for the Vice Chairman and EUR 25,000 for
the members. 



At its organizing meeting following the AGM, Salcomp's Board of Directors
concluded due to the Company's size and composition of the Board of Directors,
that it is not necessary to establish any separate Board committees. The Board
of Directors further stated that all Board members are independent of the
Company, and Petri Kähkönen, Jukka Rinnevaara and Kari Vuorialho are also
independent of the Company's significant shareholders. 



KPMG Oy Ab, Authorized Public Accounting Firm, continues as the Company auditor
and Pauli Salminen, APA, as the responsible auditor. 



The AGM authorized the Board of Directors to decide on issuance of no more than
11.8 million new shares or own shares held by the Company. Furthermore, the AGM
decided to authorize the Board of Directors to repurchase no more than 3.8
million of the Company's own shares. 



A total of 16 shareholders were present at the AGM, either in person or
represented by proxy, representing 35,675,973 shares, or 91.4 per cent of the
total number of shares in the Company. 



SALCOMP PLC



Markku Hangasjärvi

President and CEO

Tel. +358 40 7310 114





Distribution:

NASDAQ OMX, Helsinki

The main media

www.salcomp.com


         Markku Hangasjärvi, President and CEO, Tel. +358 40 7310 114