Annual General Meeting 2016

Ekokem Corporation’s Annual General Meeting was held in Helsinki on 29 April 2016.

Decisions made at the Annual General Meeting of Ekokem Corporation, organising meeting of the Board of Directors, and financial communications schedule for 2016

The Annual General Meeting of Ekokem Corporation was held on April 29 2016 in Helsinki. The Annual General Meeting approved the financial statements for the 2015 financial period and discharged the Board of Directors and CEO from liability.

Disposal of the profit shown in the balance sheet and the payment of dividends

The Annual General Meeting decided to distribute a dividend of EUR 2.00 per each Series A share and EUR 2.00 per each Series B share for the financial year ended on 31 December 2015. In total, dividends amount to some EUR 7.0 million.

Ekokem Corporation’s Annual General Meeting decided to transfer EUR 150,000 of the retained earnings of the financial period to Ekokem Corporation’s environmental scholarship fund.

Composition of the Board of Directors

The AGM made decisions on the composition of the Board of Directors according to the proposals of the Nomination Board consisting of shareholders. Accordingly the AGM decided to elect five members to the Board of Directors.

Juha Vanhainen, Leena Karessuo, Pia Björk and Tiina Tuomela were re-elected to the Board. Marko Hyvärinen was elected as a new member. The Annual General Meeting appointed Juha Vanhainen as chairman and Leena Karessuo as vice chairman of the Board of Directors.

Remuneration of Board members

The AGM's decision concerning the remuneration of Board members was in line with the proposal of the Nomination Committee. The remuneration of Board members remained at the previous year's level and is as follows:

  • Chairman, EUR 2,400 per month
  • Vice chairman EUR 1,500 per month
  • Other Board members EUR 1,200 per month

It was also decided that the fee for Board or Committee meetings is EUR 500 per meeting. Reasonable travel expenses will be reimbursed to Board members in accordance with Ekokem Corporation’s travel policy.

Election of the auditor and decision on remuneration

The Annual General Meeting decided that Authorised Public Accountants PricewaterhouseCoopers Oy will continue as the auditor. Authorised Public Accountant Markku Launis will act as the principal auditor. The auditor’s fee will be paid according to the auditor’s invoice.

Minutes of the Annual General Meeting

Minutes of the AGM are available on the company website at www.ekokem.com/fi no later than from 13 May 2016 onwards.

Organising meeting of the Board of Directors

In its meeting following the AGM, the Board of Directors of Ekokem Corporation appointed members to the HR and Remuneration Committee and the Audit Committee amongst its members.

Leena Karessuo and Juha Vanhainen were appointed members of the HR and Remuneration Committee. Juha Vanhainen was appointed Chairman of the HR and Remuneration Committee.

Pia Björk, Marko Hyvärinen and Tiina Tuomela were appointed members of the Audit Committee. Pia Björk was appointed Chairwoman of the Audit Committee.

Financial communications schedule

Ekokem expects to publish its interim reports for 2016 as follows:

  • interim report for January-March during the week beginning on 23 May 2016
  • interim report for April-June during the week beginning on 22 August 2016
  • interim report for July-September during the week beginning on 14 November 2016