The members and the Chairman of the Board of Directors
It was decided that there would be five members on the company's Board of Directors. The following persons were re-elected as members of the Board of Directors until the end of the next Annual General Meeting: Mikko J. Aro, Karri Kaitue, Esa Lager, Pekka Paasikivi and Pekka Salmi. The Board of Directors elected Mikko J. Aro as its Chairman and Karri Kaitue as its Vice Chairman in its organisation meeting held immediately after the Annual General Meeting.
The annual fees to the members of the Board of Directors were confirmed by the Annual General Meeting, as follows: Chairman 34,800 euro, Vice Chairman 26,100 euro, and other board members 17,400 euro.
PricewaterhouseCoopers Oy, Authorised Public Accountants, were the appointed auditors. Markku Marjomaa, Authorised Public Accountant, was appointed as the principal auditor.
The fees for the auditor are paid according to invoice.
Increasing the share capital
The Annual General Meeting accepted the proposal of the Board of Directors for granting the board authorisation to increase the share capital (Appendix 1).
Losses will be covered by the premium fund
The Annual General Meeting accepted the proposal of the Board of Directors that the losses presented in the Financial Statements of 2005 be covered by the premium fund (Appendix 2).
Antti Rasilo President
For further information, please contact: Antti Rasilo, Okmetic Oyj, President tel. +358 9 5028 0232, e-mail: firstname.lastname@example.org Esko Sipilä, Okmetic Oyj, Senior Vice President, Finance tel. +358 9 5028 0286, e-mail: email@example.com
The Board of Directors of Okmetic Oyj proposes to the Annual General Meeting of Shareholders, to be held on 11 April 2006 that the Board of Directors be authorised to increase the company's share capital by a new issue or by issuing options or convertible bonds in one or more tranches for a period commencing on 11 April 2006 and ending on the date of the next Annual General Meeting, however not exceeding one year of the date of the Annual General Meeting. The aggregate maximum number of shares to be issued in the new issue or to be offered for subscription pursuant to options or convertible bonds shall be 3,377,500 new shares. Pursuant to this authorisation, the share capital of the company may be increased by a maximum of 2,364,250 euro.
The authorisation includes the right to deviate from the shareholders' pre-emptive subscription rights if the deviation is justified by an important financial reason for the company.
The Board of Directors proposes to the Annual General Meeting of Shareholders to be held on 11 April 2006 that the 16,145,238.65 euro of losses accumulated by the end of the financial year 1 January - 31 December 2005 be covered by the premium fund.
On 31 December 2005, prior to covering the losses, the premium fund amounted to 36,190,493.36 euro. After covering the losses of 16,145,238.65 euro, the premium fund will be 20,045,254.71 euro.