Trainer's House Oyj - Decisions of general meeting

TRAINERS' HOUSE PLC - DECISIONS OF THE ANNUAL GENERAL MEETING

Espoo, 2016-03-23 14:15 CET (GLOBE NEWSWIRE) -- TRAINERS´ HOUSE PLC, STOCK
EXCHANGE RELEASE, 23 MARCH 2016 AT 15:15 

The Annual General Meeting of Trainers' House Plc was held today on 23 March
2016 in Espoo. 

The Annual General Meeting decided in accordance with the proposal of the Board
of Directors that no dividends shall be paid from the financial year 2015 and
that the profit of the financial year shown by the parent company will be
transferred to the company's profit and loss account. The Annual General
Meeting decided in order to cover the losses that the share premium reserve
will be decreased by EUR 494,539.16 and the invested unrestricted equity fund
will be decreased by EUR 36,461,365.15 in order to clarify the balance sheet of
the company. After the decrease, both of the funds have been used in full.
After all the decided measures, the accumulated profit of the company is EUR
-1,512,503.58 added with the profit from the financial year 2015 EUR 604,019.85
i.e. a total of EUR -908,483.73. 

The Annual General Meeting approved the financial statements and the
consolidated financial statements and discharged the Board of Directors and the
CEO from liability for the fiscal year 1.1.2015-31.12.2015. 

The Annual General Meeting decided that the number of members of the company's
Board of Directors is three. Mr. Aarne Aktan, Mr. Jarmo Hyökyvaara and Mr. Jari
Sarasvuo were re-elected members of the Board of Directors. At its assembly
meeting convened after the Annual General Meeting the Board of Directors
elected Aarne Aktan as the Chairman of the Board. 

The Annual General Meeting decided that the remuneration to the Chairman shall
be EUR 3,500 per month and to the other members of the Board EUR 1,500 per
month. 

Ernst & Young Oy was elected as the auditor. The remuneration to the
auditor shall be paid against the auditor's reasonable invoice. 

The Annual General Meeting decided in accordance with the proposal of the Board
of Directors on issuing of shares and issuing of other special rights entitling
to shares, in one or more tranches. The authorization entitles the Board of
Directors to decide upon the issuing of a maximum of 13,000,000 shares. The
authorisation also includes the right to decide upon issuing of shares to the
company itself, however so that after the issuance the maximum amount of the
shares owned by the company itself can be 1/10 of all the shares of the
company. The Board of Directors shall decide upon all of the terms regarding
the issuing of shares and issuing of other special rights entitling to shares
in accordance with Chapter 10 Section 1 of the Finnish Limited Liability
Companies Act. The issuing of shares and other special rights in accordance
with Chapter 10 Section 1 of the Finnish Limited Liability Companies Act can
deviate from the shareholders’ pre-emptive rights (directed share issue). The
authorization will reverse the previous authorisations regarding issuing of
shares and other special rights entitling to shares. The authorisation will be
valid until 30 June 2019. 


TRAINERS' HOUSE PLC
Arto Heimonen
CEO

FURTHER INFORMATION
Arto Heimonen, CEO, +358 40 412 3456


DISTRIBUTION:
NASDAQ OMX Helsinki
Prominent media sources
www.trainershouse.fi – Investors

Attachments:

Porssitiedote 23.3.2016 EN.pdf