The Annual General Meeting 2018
The Annual General Meeting of Bittium Corporation was held on Wednesday, April 11, 2018 at 1.00 p.m. at the address the University of Oulu, Saalastinsali, Pentti Kaiteran katu 1, 90570 Oulu, Finland.
Decisions of the Annual General Meeting:
- The Annual General Meeting approved the annual accounts for the financial year 2017 and discharged the company's management from liability.
- The Annual General Meeting decided in accordance with the proposal of the Board of Directors to pay EUR 0.30 per share as dividend based on the adopted balance sheet for the financial period January 1, 2017 December 31, 2017. The dividend will be paid to the shareholders who are registered as shareholders in the company's register of shareholders as maintained by Euroclear Finland Ltd on the dividend record date Friday, April 13, 2018. The dividend will be paid on Friday, April 20, 2018.
- The Annual General Meeting decided that the Board of Directors shall comprise six (6) members. Mr. Seppo Mäkinen, Mr. Juha Putkiranta, Mr. Tero Ojanperä and Mr. Erkki Veikkolainen were re-elected as members of the Board of Directors for a term of office expiring at the end of the next Annual General Meeting. Further, Ms. Riitta Tiuraniemi and Mr. Petri Toljamo were elected as the new members of the Board of Directors for a corresponding term of office.
- At its assembly meeting held on April 11, 2018, the Board of Directors has elected Mr. Erkki Veikkolainen Chairman of the Board. Further, the Board has resolved to keep the Audit Committee. Mr. Juha Putkiranta (Chairman of the committee) and Ms. Riitta Tiuraniemi were elected as members of the Audit Committee and authorized public accountant Seppo Laine was invited to the Audit Committee as external advisor of the Board of Directors.
- The following monthly remuneration shall be paid to the members of the Board of Directors: to the chairman of the Board of Directors EUR 3,500 and to the other members of the Board of Directors EUR 2,000 each. In addition, the members of the Board of Directors are entitled to compensation for attending Board Committee meetings as follows: the chairman of the Committee EUR 600 for each meeting and other Committee members EUR 400 for each meeting. Travel expenses of the members of the Board of Directors shall be reimbursed in accordance with the Company's travel policy. The General Meeting also decided that 40 per cent of the total amount of the monthly remuneration will be paid at once as Bittium Corporation's shares acquired for the price formed in public trading, and the shares will be acquired according to the share purchase program of the company.
- Ernst & Young Oy, authorized public accountants, was re-elected auditor of the Company for a term of office ending at the end of the next Annual General Meeting. Ernst & Young Oy has notified that Mr. Juhani Rönkkö, authorized public accountant, will act as responsible auditor. It was decided that the remuneration to the auditor shall be paid against the auditor's reasonable invoice.
- The General Meeting authorized the Board of Directors to decide on the repurchase of the Company's own shares.
- The General Meeting authorized the Board of Directors to decide on the issuance of shares and special rights entitling to shares .
Read more: The decisions of the Annual General Meeting 2018 (stock exchange release, April 11, 2018)
- Annual General Meeting 2018, CEO's Review (in Finnish) (pdf, 8.16 MB) »
- Annual Report 2017 (pdf, 10.09 MB) »
- Proposals to the Annual General Meeting 2018 (pdf, 379 KB) »
- Proposed composition of the Board of Directors (pdf, 520 KB) »
- Report by the BoD and Financial Statements 2017 (pdf, 1.53 MB) »
- Annual General Meeting 2018, meeting minutes (pdf, 114 KB) »
- Bittium Corporation Financial Statement Bulletin 2017 (pdf, 747 KB) »
- Notice to the General Meeting of Bittium Corporation 2018 (pdf, 540 KB) »