Ponsse Oyj - Decisions of general meeting

DECISIONS OF PONSSE PLC'S ANNUAL GENERAL MEETING

Vieremä, Finland, 2011-04-12 13:01 CEST (GLOBE NEWSWIRE) -- 

PONSSE PLC STOCK EXCHANGE RELEASE 12 APRIL 2011

DECISIONS OF PONSSE PLC'S ANNUAL GENERAL MEETING

Ponsse Plc's Annual General Meeting was held in Vieremä, Finland today, 12
April 2011. 

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 2010 financial period. 

Dividend
The AGM decided to authorise a dividend per share of EUR 0.35 per share for
2010 (dividends totalling EUR 9,725,485). No dividend will be paid to shares
owned by the company itself (212,900 shares). The dividend payment record date
is 15 April 2011, and the dividends will be paid on 26 April 2011. 
In addition, the Annual General Meeting authorised the Board of Directors to
decide on the payment of a potential additional dividend by the end of 2011. 

Board of Directors
The number of Board members was confirmed as six (6). Heikki Hortling, Marja
Liisa Kaario, Ilkka Kylävainio, Ossi Saksman and Juha Vidgrén were re-elected
to the Board. Jukka Vidgrén was elected as a new Board 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. 
The AGM confirmed the annual remuneration payable to the Chairman of the Board
as EUR 43,000, the remuneration payable to the Vice Chairman as EUR 38,000 and
the remuneration payable to other members as EUR 32,000. 
At a Board meeting held after the AGM, Juha Vidgrén was elected Chairman of the
Board and Heikki Hortling was elected Vice Chairman. 

Auditor
PricewaterhouseCoopers Oy were appointed as the company's auditors, with Sami
Posti, Authorised Public Accountant, as the principal auditor. 

Acquisition of treasury shares
The AGM authorised the Board of Directors to decide on the acquisition of the
company's own shares so that a maximum of 250,000 shares can be acquired in one
or more batches. The maximum amount corresponds to approximately 0.89 per cent
of the company's total shares and votes. 
The shares will be acquired in public trading organised by NASDAQ OMX Helsinki
Ltd (“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 the Company's own shares using the Company's unrestricted shareholders'
equity. 
The authorisation is required for supporting the Company's growth strategy in
the Company's potential business arrangements or other arrangements. In
addition, the shares can be issued to the Company's current shareholders or
used for increasing the ownership value of the Company's shareholders 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 own shares. 
The authorisation is valid until the next AGM; however, no later than 30 June
2012. 

Authorisation of the Board of Directors to decide on share issues by assigning
the Company's own shares or by issuing new shares 
The AGM authorised the Board of Directors to decide on the issue of new shares
and the assignment of treasury shares held by the company against payment or
free of charge 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 per
cent 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 a
right to organise a directed issue in deviation of the shareholders'
subscription rights under the provisions 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 valid until the next AGM; however, no later than 30 June
2012. 

Articles of Association
The AGM decided to amend Article 9 of the Articles of Association, Notice of
General Meeting, as follows: 
”The General Meeting shall be held in the company's domicile, Iisalmi or
Kajaani. Notice of the General Meeting shall be delivered to shareholders by
publishing it as a stock exchange release and on the company's website and, if
the Board of Directors so decides, in one newspaper of large circulation
decided upon by the Board of Directors at the earliest three (3) months and at
the latest twenty-one (21) days before the General Meeting. To be eligible to
participate in the General Meeting, shareholders must notify the company of
their intention to attend no later than on the day mentioned in the notice of
General Meeting, which may be no earlier than ten (10) days before the
meeting.” 

Profit bonus to personnel
The Annual General Meeting decided that personnel employed by the Group be paid
a profit bonus of EUR 90 per person per month at work for 2010. 

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, as of 19
April 2011. 

Vieremä, 12 April 2011

PONSSE PLC

Juho Nummela
President and CEO

Petri Härkönen
CFO

FURTHER INFORMATION
President and CEO Juho Nummela, tel. +358 400 495 690
CFO Petri Härkönen, tel. +358 50 409 8362

DISTRIBUTION
NASDAQ OMX Helsinki Ltd
Principal media
www.ponsse.com

Ponsse Plc is a company specialising in the sales, manufacture, servicing and
technology of cut-to-length method forest machines and is driven by genuine
interest in its customers and their business. 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.