The General Meetings of Shareholders is the Company’s highest decision-making body where shareholders use their decision-making power. Each shareholder is entitled to participate in the General Meeting by following the procedure described in the notice to the General Meeting.
According to the Finnish Companies Act, the General Meeting decides on the following, among others:
- amending the Articles of Association
- approving the financial statements
- profit distribution
- mergers and demergers
- acquisition and transfer of own shares
- appointing the members of the Board and specifying their and Board committee members' compensation
- appointing the auditor and specifying its compensation.
Shareholders are entitled to put forward a matter pertaining to the General Meeting to be addressed by the General Meeting when the shareholder delivers a written proposal to this effect so well in advance that the matter can be included in the notice to the meeting. The deadline for such proposals is January 15th. In addition, a shareholder has a right to present questions on the items on the agenda of the General Meeting.
A shareholder is entitled to participate in the General Meeting when he/she is included in the register of shareholders eight (8) working days before the General Meeting. The Annual General Meeting takes place each year in June at the latest. Notice to the General Meeting is served at the earliest three months and at the latest three weeks before the meeting by publishing it on the Company's website and by publishing the notice or a summary thereof in a Finnish newspaper of general circulation.
An Extraordinary General Meeting will convene if the Board finds it necessary, or if the auditor or shareholders representing at least 10 per cent of all shares deliver a written request to this effect in order to process a specified matter.