The General Meeting

The General Meeting is the highest decision-making body of Bittium, where the shareholders participate in the supervision and control of Bittium by using their right to speak and vote. The most important tasks of the General Meeting are, among others, the election of the Board of Directors and the adoption of the Annual Accounts. Other tasks of the General Meeting appear from the Articles of Association of the company and from the Finnish Companies Act. The company shall convene one Annual General Meeting for each financial period. An Extraordinary General Meeting shall be convened when necessary.

The Annual General Meeting 2024

Notice is given to the shareholders of Bittium Corporation to the Annual General Meeting to be held on Wednesday, April 10, 2024, at 1:00 p.m. at the University of Oulu, at the address Saalastinsali, Pentti Kaiteran katu 1, 90570 Oulu. The reception of persons who have registered for the meeting and the distribution of voting tickets will commence at 12:30 p.m.

Shareholders may also exercise their right to vote by voting in advance. Instructions for advance voting are presented below.

Registration to the General Meeting 2024

A shareholder who is registered in the shareholders´ register of the company maintained by Euroclear Finland Ltd on the record date of the Annual General Meeting, March 27, 2024, has the right to participate in the Annual General Meeting. A shareholder, whose shares are registered on their personal Finnish book-entry account or equity savings account, is registered in the shareholders´ register of the company.

Registration for the Annual General Meeting will begin on February 19, 2024 at 10:00 a.m. A shareholder registered in the shareholders´ register of the company who wishes to participate in the Annual General Meeting must register no later than by April 4, 2024 at 4:00 p.m.  The registration must be received before the end of the registration period.

Registration for the Annual General Meeting can be made:

a) REGISTER HERE via Euroclear Finland's registration services beginning from 10:00 a.m. on February 19, 2024;

For natural persons the electronic registration requires strong electronic authentication. When a shareholder logs in to the service through the company´s website, he or she is directed to an electronic authentication page. Electronic authentication works with online banking credentials or a mobile certificate.

For shareholders that are legal entities, the electronic registration does not require strong electronic authentication. However, the shareholder is required to provide the number of its Finnish book-entry account, its business ID or corporate identification number and other required information. If a shareholder that is a legal entity uses the electronic Suomi.fi authorization described in section C.3 below, registration requires strong electronic authentication from the authorized person, which works with personal online banking credentials or a mobile certificate.

b). by phone to +358 40 344 3322 on weekdays between 9:00 am (CET+1) and 3:00 pm (CET+1); or

c) by e-mail to [email protected].

In connection with the registration, a shareholder shall notify their name, date of birth/personal identification number or business ID, address, telephone number and e-mail address, as well as the name of a possible assistant, legal representative or proxy representative and the date of birth/personal identification number of the legal representative or proxy representative. The personal data given by shareholders to Bittium Corporation or Euroclear Finland Oy is used only in connection with the Annual General Meeting and for processing of related necessary registrations.

A shareholder, their legal representative or proxy representative shall, if necessary, be able to prove their identity and/or right of representation at the meeting venue.

Description of the Registration File

In the registration procedure to the General Meeting of Bittium Corporation, personal data of the shareholders is collected, such as the personal identity code and the number of the book-entry account. The information will not be used for any other purposes than for identifying the shareholder and for confirming the shareholding. The technical provider of the registration system is Euroclear Finland Oy.

Description of the file Personal data protection

Open/close section Important Dates
  • Registration for the General Meeting and advance voting will begin on February 19, 2024 at 10.00 a.m.
  • The record date for the General Meeting is March 27, 2024
  • Registration and advance voting ends April 4, 2023 at 4.00 p.m.
  • Annual General Meeting Date April 10, 2023
  • Minutes of the meeting available on the company’s website April 24, 2024 at the latest
Open/close section Advance voting

Shareholders who have a Finnish book-entry account or equity savings account may vote in advance between February 19, 2024 10:00 a.m. (CET 1) and April 4, 2024 4:00 p.m. (CEST 1) on certain items on the agenda of the Annual General Meeting.

For nominee-registered shareholders, advance voting takes place through the account manager of the custodian bank. The account manager may vote in advance on behalf of the nominee-registered shareholders it represents in accordance with their voting instructions during the registration period set for holders of nominee-registered shares.

A shareholder who has voted in advance may exercise their right to request information under the Finnish Limited Liability Companies Act, request a vote at the Annual General Meeting or vote on a possible counterproposal only if they are present at the Annual General Meeting in person or by proxy representation.

Advance voting can take place in the following ways:

a) Registration via Euroclear Finland's registration services beginning from 10:00 am (CET 1) on 19 February 2024;

For natural persons, electronic advance voting requires strong electronic authentication. A shareholder can register and vote in advance by logging in with their own Finnish online banking credentials or a mobile certificate.

For shareholders that are legal entities, electronic advance voting does not require strong electronic authentication. However, the shareholder shall provide the number of its Finnish book-entry account and other information required. If a shareholder that is a legal entity uses the electronic Suomi.fi authorization service further described above, the registration requires strong electronic authentication, which works with personal Finnish online banking credentials or a mobile certificate.

b) by e-mail or mail;

A shareholder may submit the advance voting form available on the company’s website or corresponding information to Euroclear Finland Oy by e-mail to [email protected], or by mail to Euroclear Finland Oy, Yhtiökokous / Bittium Corporation, P.O. Box 1110, FI-00101 Helsinki, Finland.  The advance voting form will be available on the company’s website no later than at 10:00 a.m. on 19 February 2024.

When submitting the advance voting form, the statutory representative or authorized proxy representative of a shareholder shall produce a dated proxy document or otherwise in a reliable manner demonstrate their right to represent the shareholder at the General Meeting.

If a shareholder participates in the Annual General Meeting by voting in advance, the submission of votes before the end of the registration and advance voting period constitutes due registration for the Annual General Meeting, provided that the above-mentioned information required for registration is provided. Advance votes must be received by the end of registration and advance voting.

A proposal that is subject to advance voting shall be deemed to have been presented without amendments at the General Meeting.

Instructions on electronic advance voting are also available on the company’s website at www.bittium.com/agm from 10:00 a.m. on February 19, 2024 at the latest.

Open/close section Proxy representatives and powers of attorney

A shareholder may participate in the Annual General Meeting and exercise their rights at the meeting by way of proxy representation. A proxy representative of a shareholder may also, if they so wish, vote in advance in accordance with the instructions given in this notice. A proxy representative shall produce a dated proxy document or otherwise in a reliable manner demonstrate their right to represent the shareholder at the General Meeting. If a shareholder participates in the Annual General Meeting by means of several proxy representatives representing the shareholder with shares at different securities accounts, the shares by which each proxy representative represents the shareholder shall be identified in connection with the registration for the Annual General Meeting.

Possible proxy documents should be delivered by mail to the address Bittium Corporation, Annual General Meeting, Ritaharjuntie 1, 90590 Oulu, Finland, or by e-mail to [email protected] before the last date for registration. The proxy document may also be required to be presented at the General Meeting.

Shareholders that are legal entities can also use the electronic Suomi.fi authorization service to authorize their representative. In this case, the shareholder authorizes the proxy representative it has appointed in the Suomi.fi service at www.suomi.fi/e-authorizations using the authorization item ”Representation at the General Meeting”. The proxy representative must identify themself with strong electronic authentication when registering in the General Meeting service, and after that the electronic authorization is automatically verified. Strong electronic identification works with Finnish online banking credentials or a Finnish mobile certificate. More information is available at www.suomi.fi/e-authorizations .

Open/close section Holders of nominee registered shares

A holder of nominee registered shares has the right to participate in the Annual General Meeting by virtue of such shares on the basis of which he or she would be entitled to be registered in the shareholders’ register maintained by Euroclear Finland Ltd on March 27, 2024.  The right to participate requires, in addition, that the shareholder has been temporarily registered in the shareholders’ register maintained by Euroclear Finland Ltd on the basis of these shares no later than on April 5, 2024, by 10:00 a.m. (Finnish time). As regards nominee-registered shares, this constitutes due registration for the Annual General Meeting.

A holder of nominee registered shares is advised to request without delay necessary instructions regarding the registration in the temporary shareholders’ register of the company, the issuing of proxy documents and voting instructions and registration for the Annual General Meeting from their custodian bank. The account management organization of the custodian bank has to register a holder of nominee registered shares, that wants to participate in the Annual General Meeting, into the temporary shareholders’ register of the company at the latest by the time stated above and, if necessary, arrange advance voting on behalf of a nominee-registered shareholder before the end of the registration period for nominee-registered shareholders.

Open/close section Other instructions and information

The language of the Annual General Meeting is Finnish.  Pursuant to Chapter 5, Section 25 of the Finnish Limited Liability Companies Act, a shareholder who is present at the Annual General Meeting has the right to request information on the matters to be considered at the meeting.

Changes in shareholdings after the record date of the Annual General Meeting do not affect the right to participate in the Annual General Meeting or the number of votes of the shareholder at the General Meeting.

On the date of this notice, Bittium Corporation has a total of 35,702,264 shares and votes. On the date of this notice, the company holds 216,146 treasury shares that do not entitle to participation in the General Meeting.

The information concerning the Annual General Meeting required under the Finnish Limited Liability Companies Act and the Securities Markets Act is available on the company’s website at www.bittium.com/agm.

Previous General Meetings

Open/close section General Meeting 2023

The Annual General Meeting of Bittium Corporation was held on April 12, 2023, at 1:00 pm (CEST+1) at the University of Oulu, Saalastinsali, Pentti Kaiteran katu 1, 90570 Oulu, Finland.

Decisions of Bittium Corporation´s Annual General Meeting

- The Annual General Meeting approved the annual accounts and the consolidated financial statements for the year 2022, discharged the company´s members of the Board of Directors and the CEO from liability for the financial year ended December 31, 2022, and gave an advisory resolution on the approval of the remuneration report for governing bodies. The Annual General Meeting supported all the proposals of the Board of Directors and the three largest shareholders, in accordance with the notice to the Meeting.

- In accordance with the proposal of the Board of Directors, the Annual General Meeting decided that, based on the balance sheet for the financial year January 1, 2022 – December 31, 2022, a dividend of EUR 0.05 per share will be distributed. The dividend will be paid to a shareholder who, on the record date for the dividend payment, April 14, 2023, is registered in the company´s shareholders´ register maintained by Euroclear Finland Ltd. The dividend will be paid on April 21, 2023. All the shares in the company are entitled to the dividend, except for own shares possibly held by the company on the dividend record date.

- The Annual General Meeting decided that the Board of Directors shall comprise five (5) members. Mr. Erkki Veikkolainen, Ms. Riitta Tiuraniemi, Mr. Veli-Pekka Paloranta, Mr. Petri Toljamo, and Mr. Pekka Kemppainen 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.

- At its organizing meeting held on April 12, 2023, the Board of Directors elected Mr. Erkki Veikkolainen as the Chairman of the Board of Directors. Further, the Board of Directors resolved that it will continue to have an Audit Committee. Ms. Riitta Tiuraniemi (Chairman of the Committee), Mr. Petri Toljamo, and Mr. Veli-Pekka Paloranta were elected as members of the Audit Committee.

- The Annual General Meeting resolved that the following monthly remuneration will be paid to the members of the Board of Directors: to the Chairman of the Board of Directors EUR 3,150 and to the other members of the Board of Directors EUR 1,800 each. In addition, the members of the Board of Directors are entitled to a fee for attending Board meetings as follows: Chairman of the Board EUR 875 per meeting and other members of the Board of Directors EUR 500 per meeting. In addition, the members of the Board of Directors are entitled to a fee for attending the meetings of the Board committees as follows: the Chairman of the Committee EUR 600 per meeting and the other members of the Committee EUR 400 per meeting. Travel expenses of the members of the Board of Directors shall be reimbursed in accordance with the company´s travel policy.

50 percent of the total monthly remuneration of the members of the Board of Directors will be paid in a single instalment in Bittium Corporation´s shares to be purchased at a price formed in public trading or through a share issue or in special circumstances, if for some reason the remuneration cannot be paid in shares, entirely in cash. The shares will be acquired according to the share purchase program of the company. A member of the Board of Directors may not transfer the shares received as remuneration before his/her membership in the Board of Directors has ended.

- 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. Jari Karppinen, APA, will act as the principal 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 referred to in Chapter 10 Section 1 of the Finnish Companies Act.

Read more: Decisions of Bittium Corporation's Annual General Meeting 2023 (stock exchange release, April 12, 2023)

Stock Exchange Releases related to the General Meeting 2023

Notice to the General Meeting of Bittium Corporation 2023 »

Bittium Corporation Financial Statement Bulletin 2022  »

Bittium Corporation´s Annual Report 2022 Has Been Published »

Decisions of Bittium Corporation´s Annual General Meeting and Organizing Meeting of the Board of Directors »

Annual General Meeting Invitation and Materials

Notice to the General Meeting of Bittium Corporation 2023 (pdf, 216kb) »

Proposals to the Annual General Meeting 2023 (pdf, 168kb) »

Bittium Remuneration Report for the Financial Year 2022 (pdf, 96kb) »

Bittium Corporation Annual Report 2022 (pdf, 9.6mb) »

Annual General Meeting 2023, CEO's Review (in Finnish) (pdf, 4.4mb) »

Annual General Meeting 2023, meeting minutes (pdf, 160kb) »

Open/close section General Meeting 2022

The Annual General Meeting 2022

(Updated April 6, 2022)

Bittium Corporation's Annual General Meeting was held on April 6, 2022, at 1.00 pm at the company's headquarters in Oulu, Finland. Shareholders and their proxy representatives could participate in the meeting and exercise their rights only by voting in advance and by making counterproposals and presenting questions in advance. The meeting could not be attended on-site. The Annual General Meeting was arranged in accordance with an exceptional meeting procedure based on the temporary legislation to limit the spread of the Covid-19 pandemic (375/2021) approved by the Finnish Parliament.

Decisions of the Annual General Meeting

- The Annual General Meeting adopted the financial statements for the financial year 2021, discharged the company's management from liability, and resolved to support the remuneration report for governing bodies.

- In accordance with the proposal of the Board of Directors, the Annual General Meeting decided that, based on the balance sheet for the financial year January 1, 2021 - December 31, 2021, a dividend of EUR 0.04 per share will be distributed. The dividend shall be paid to shareholders who on the dividend record date of April 8, 2022, are registered in the company´s shareholders´ register held by Euroclear Finland Oy. The dividend shall be paid on April 19, 2022. All the shares in the company are entitled to the dividend with the exception of shares possibly held by the company on the dividend record date.

- The Annual General Meeting decided that the Board of Directors shall comprise five (5) members. Mr. Erkki Veikkolainen, Ms. Riitta Tiuraniemi, Mr. Veli-Pekka Paloranta, Mr. Petri Toljamo, and Mr. Pekka Kemppainen 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.

- At its assembly meeting held on April 6, 2022, the Board of Directors elected Mr. Erkki Veikkolainen as the Chairman of the Board of Directors. Further, the Board has resolved to keep the Audit Committee. Ms. Riitta Tiuraniemi (Chairman of the committee), Mr. Petri Toljamo, and Mr. Veli-Pekka Paloranta were elected as members of the Audit Committee.

- The Annual General Meeting resolved that the following monthly remuneration shall be paid to the members of the Board of Directors: to the chairman of the Board of Directors EUR 3,150 and to the other members of the Board of Directors EUR 1,800 each. In addition, the members of the Board of Directors are entitled to compensation for attending Board meetings as follows: the chairman of the Board EUR 875 for each meeting and other members EUR 500 for each meeting. In addition, the members of the Board of Directors are entitled to compensation for attending 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 50 percent of the total amount of the monthly remuneration of the members of the Board of Directors will be paid at once as Bittium Corporation's shares acquired for the price formed in public trading, through share issue or, in special circumstances if share-based remuneration cannot be paid for some reason, in money. The shares will be acquired according to the share purchase program of the company. A member of the Board of Directors may not transfer the shares received as remuneration before his/her membership in the Board of Directors has ended.

- 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. Jari Karppinen, APA, 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 referred to in Chapter 10 Section 1 of the Companies Act.

Read more: The decisions of the Annual General Meeting 2022 (stock exchange release, April 6, 2022)

The General Meeting 2022 - CEO's Review

Video only in Finnish

Stock Exchange Releases related to the General Meeting 2022

Notice to the General Meeting of Bittium Corporation 2022 »

Bittium Corporation Financial Statement Bulletin 2021  »

Bittium Corporation´s Annual Report 2021 Has Been Published »

Decisions of the Annual General Meeting of Bittium Corporation »

Annual General Meeting Invitation and Materials

Notice to the General Meeting of Bittium Corporation 2022 (pdf, 216kb) »

Proposals to the Annual General Meeting 2022 (pdf, 168kb) »

Bittium Remuneration Report for the Financial Year 2021 (pdf, 96kb) »

Bittium Corporation Annual Report 2021 (pdf, 9.6mb) »

Annual General Meeting 2022, CEO's Review (in Finnish) (pdf, 13.3mb) »

Annual General Meeting 2022, meeting minutes (pdf , 177 kb) »

Open/close section General Meeting 2021

The Annual General Meeting 2021

(Updated April 14, 2021)

Bittium's Annual General Meeting was held on April 14, 2021 at 1.00 pm at the company's headquarters in Oulu, Finland. Shareholders and their proxy representatives could participate in the meeting and exercise their rights only by voting in advance and by making counterproposals and presenting questions in advance. The meeting could not be attended on-site. The Annual General Meeting was arranged in accordance with an exceptional meeting procedure based on the temporary legislation to limit the spread of the Covid-19 pandemic (677/2020) approved by the Finnish Parliament.

Decisions of the Annual General Meeting

- The Annual General Meeting adopted the financial statements for the financial year 2020, discharged the company's management from liability and resolved to support the remuneration report for governing bodies.

- Based on the shareholder vote concerning minority dividend, the Annual General Meeting decided in deviation from the proposal of the Board of Directors that a minority dividend corresponding to half of the profit for the financial period shall be paid in accordance with Chapter 13, Section 7 of the Companies Act. The Board of Directors of the company had proposed to the Annual General Meeting that no dividend be distributed by the Annual General Meeting based on the adopted balance sheet for the financial period of January 1, 2020 - December 31, 2020. The total amount of the minority dividend to be distributed is EUR 1,110,327.74, corresponding to EUR 0.0311 per share.

- The dividend shall be paid to shareholders who on the dividend record date April 16, 2021 are registered in the company´s shareholders´ register held by Euroclear Finland Oy. The dividend shall be paid on April 23, 2021. All the shares in the company are entitled to the dividend with the exception of shares possibly held by the Company on the dividend record date.

- The Annual General Meeting decided that the Board of Directors shall comprise five (5) members. Mr. Erkki Veikkolainen, Ms. Riitta Tiuraniemi, Mr. Veli-Pekka Paloranta and Mr. Pekka Kemppainen 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, Mr. Petri Toljamo was elected as a new member of the Board of Directors for a corresponding term of office.

- At its assembly meeting held on April 14, 2021, the Board of Directors elected Mr. Erkki Veikkolainen as the Chairman of the Board of Directors. Further, the Board has resolved to keep the Audit Committee. Ms. Riitta Tiuraniemi (Chairman of the committee), Mr. Petri Toljamo and Mr. Veli-Pekka Paloranta were elected as members of the Audit Committee.

- The Annual General Meeting resolved that the following monthly remuneration shall be paid to the members of the Board of Directors: to the chairman of the Board of Directors EUR 3,150 and to the other members of the Board of Directors EUR 1,800 each. In addition, the members of the Board of Directors are entitled to compensation for attending Board meetings as follows: the chairman of the Board EUR 875 for each meeting and other members EUR 500 for each meeting. In addition, the members of the Board of Directors are entitled to compensation for attending 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 50 percent of the total amount of the monthly remuneration of the members of the Board of Directors will be paid at once as Bittium Corporation's shares acquired for the price formed in public trading, through share issue or, in special circumstances if share based remuneration cannot be paid for some reason, in money. The shares will be acquired according to the share purchase program of the company. A member of the Board of Directors may not transfer the shares received as remuneration before his/her membership in the Board of Directors has ended.

- 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. Jari Karppinen, APA, will act as responsible auditor. It was decided that the remuneration to the auditor shall be paid against the auditor's reasonable invoice.

- The Annual General Meeting authorized the Board of Directors to decide on the repurchase of the Company's own shares.

- The Annual 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 2021 (stock exchange release, April 14, 2021)

(translation from Finnish)

Shareholders’ Questions to the Annual General Meeting

1. How does Bittium intend to tackle the barrier that the company is relatively small in the world? How do you get reassurance for SDR radio deals when your competitors are 100x bigger companies?

Bittium is looking for partners in all its target countries, either local or global integrators, who combine Bittium products and solutions for their own and/or third-party products and provide this competitive package to clients.

Cooperation with a large global or locally known company complements Bittium’s small size and helps to create a more favorable sales situation.

On the other hand, Bittium's small size and flexible business models add value to customers compared to large competitors. Bittium is often able to offer more flexible solutions than its competitors, for example, the customization of a local solution and the smooth coordination of products from different parties into a functional entity. Such agility and flexibility form often a significant competitive advantage over large players.

2. What kind of cooperation does Bittium have with Nokia? Nokia reserved a building plot next to Bittium’s headquarters, what do you comment on this?

Bittium provides Nokia with R&D services for the development of radio network products and software. The Company cannot clarify the content of the cooperation more specifically due to the confidentiality agreement between the companies.

Bittium is looking forward to Nokia as a possible neighbor in Oulu. The company believes that this can further bring the already close cooperation of enterprises closer together.

3. Does Bittium still have opportunities to sell tacwin or sdr in Germany? Apparently, the military has already made decisions there and Bittium has not been mentioned in those contexts.

The German Armed Forces Communication System Modernization and Digitization Program (D-LBO project) is delayed and still in its early stages due to the corona pandemic.

There are many different sections in the project that are targeted for different performances and these will be procured as their own entities over a longer period.

Based on earlier decisions outside the Program, Armed forces units also make smaller additional purchases for their existing product families. Bittium's tactical communication system and products are easily compatible with other existing products and systems.

4. Top management and CEO have received hundreds of thousands of performance bonuses but the dividend was reset, meaning investors did not receive anything. How do you comment?

The bonuses paid in 2020, presented in the Company's Remuneration Report 2020, are based on results of the 2019. With regards to the targets set for 2019, the required minimum level was reached, on the basis of which the bonuses were paid.

The year 2020 was a difficult year due to the Covid-19 pandemic, and the Company's management did not achieve the earnings criteria set for 2020, only in some small parts. This will also be reflected in the rewards paid in 2021.

Bittium follows the Remuneration Policy presented to the Company's Annual General Meeting held on June 15, 2020. The principles of the Remuneration Policy guide the Company's incentive structure and the criteria for earning incentives. Remuneration of the Company is designed to harmonize the interests of employees and shareholders and at the same time support remuneration based on the Company's performance. The purpose of the Company's incentive programs is to implement the Company's strategy and to develop long-term sustainable growth in line with the increase in shareholder value.

In order to strengthen the Company's investment capacity in accordance with its strategy to enable future growth, Bittium Corporation's Board of Directors decided on November 27, 2020 (pursuant to the authorization of the Annual General Meeting held on June 15, 2020) not to pay dividends from the Company's distributable funds.

5. The release of Company’s Annual Report was brought forward by a few days. In the press release, the Company said that the reason was that by releasing the Report few days in advance, investors would be better able to familiarize themselves with the financial statements before the Annual General Meeting. The financial statements have been available for days, so this cannot be the case. In addition, shareholders cannot even attend the Annual General Meeting. How do you comment?

In order to prevent the spread of the Covid-19 pandemic, it was decided to hold the 2021 Annual General Meeting under the Provisional Act (677/2020), which allows shareholders and their proxies to attend and exercise shareholder rights only by voting in advance and making counterproposals and asking questions in advance. At the same time, Bittium brought forward the publication of the 2020 Annual Report to give shareholders a little more time to familiarize themselves with the Company's financial statements as a whole (including all notes to the financial statements) to form an overall picture before important deadlines related to the Annual General Meeting.

The company's Financial Statements will be published in full only in the Company’s Annual Report. In addition to the Financial Statements, the Annual Report includes the Report by the Board of Directors', the Corporate Governance, and the Sustainability Report. The Financial Statement bulletin, published on February 11, 2021, contains only a part of the information of the full Financial Statements. The Annual Report therefore contains a lot of additional information that is not presented in the financial statements bulletin.

When preparing the financial calendar, important dates related to the Annual General Meeting are always taken into account. That the Annual General Meeting would be organized under the interim law was not considered in the financial calendar when it was published in 2020. At that time, the schedule for the publication of the Annual Report had been dimensioned so that the Annual General Meeting would have been held normally, as a face-to-face meeting.

6. The market value of Bittium is very low despite the defense business, medical side products, letters of intents, etc. Have you thought about listing Medical into a separate company, where the Medical’s income does not drown under the whole. For example, Medical listed on the NYSE, its market value alone would be higher than that of Bittium as a whole now on the Helsinki Stock Exchange. Wouldn’t that be in the best interest of shareholders?

 Bittium always acts for the benefit of shareholders. One of the tasks of the Board of Directors is to decide on various mergers and acquisitions and significant matters concerning the organization.

Possible topics related to the development of the Company's structure the Company cannot comment without complying with the disclosure regulations. Should such significant projects related to the Company's structure or its development be planned, they should be treated as an insider project and communicated simultaneously to everyone in accordance with the rules set for listed company disclosure Finland and the EU.

7. Why was Timo Hildén not able to participate in the work of the Board of Directors of Bittium?

Mr. Timo Hildén informed the Company that he is not available as a member of the Company's Board of Directors. The company could have mentioned in its press release that it was his decision.

8. Capital-intensive product development years are starting to be behind you. Will there be productive jobs for all those R&D experts?

 Bittium's expertise is very diverse and wide-ranging, and skilled personnel are the Company's greatest asset. Bittium offers its employees challenging and inspiring jobs and is committed to supporting their development and investing in their well-being. The company always assesses the need for the number of employees according to the development of the business.

9. Product development capitalizations was more than EUR 44 million. Is there still time to take advantage of everything in taxation starting from the oldest ones? Are there any lost activations? Is there enough income?

In accordance with the accounting principles of the consolidated financial statements, the company assesses at each balance sheet date weather an asset is impaired to the extent that an impairment loss should be recognized. No such indications have been noted for R&D assets. R&D assets are deducted in income tax in accordance with the annual depreciation made in the accounts.

10. How much is invested in product marketing? Should you invest more?

Bittium operates in the B2B and B2G markets. The company's marketing measures are targeted at customers and organizations operating in these segments and do not appear in the consumer market. Bittium invests significantly in marketing and actively markets its products and services. Marketing investments are constantly measured and developed, and they are increased as the business develops.

11. What are the company's concrete plans in the short term to create a clearer visibility for Medical and thus positive shareholder value (differentiation, etc.)?

Bittium is constantly striving to improve its communication and transparency towards shareholders. In 2020, the Company increased its reporting and, in addition to semi-annual reporting, began publishing business reviews from the first and third quarters of the year.

In the 2020 Financial Statements Bulletin, Bittium opened for the first time a breakdown of product revenue, broken down into medical technology products and other products, in order to improve transparency.

12. How do you assess the impact of Boston Scientific's Preventice acquisition on the strategic partnership with Bittium and the short- and medium-term business outlook for biosignals (eg 1-3 years)?

The collaboration between Bittium and Preventice began in 2018, when the companies signed a supply agreement, according to which Bittium will supply Preventice with customized BodyGuardian® MINI ECG measuring devices. In autumn 2020, Bittium and Preventice signed an extension agreement for the supply of these measuring equipment, which will last until 2024. Bittium has no information that the Boston Scientific’s Preventice acquisition would have a material effect on the cooperation between Bittium and Preventice.

13. Does the company have any plans to strengthen the business expertise of the Medical business on the company's Board of Directors and executive management?

The Medical Technologies business has developed well, and the Company has strengthened the business management and sales organization of the Medical Technologies team over the past year and will continue to strengthen the team as the business develops.

14. What is the estimated timing of the depreciation of product development costs of almost EUR 50 million capitalized in the balance sheet and is there a risk of material write-down associated with the capitalized amount?

Capitalized R&D expenses are depreciated over their useful lives. The realization of return expectations on capitalized product development investments involves normal operational business risk. 

15. Will capitalization of R&D expenses continue in the current financial year and in the next few years, and if not, will R&D expenses decrease accordingly?

The level of R&D investments in relation to net sales started to decrease as planned last year, and the Company aims to further reduce the amount of investments during 2021. Part of the R&D costs incurring in 2021 will be capitalized in the balance sheet in accordance with the IFRS standard.

The General Meeting 2021 - CEO's Review

Video only in Finnish

Stock Exchange Releases related to the General Meeting 2021

Notice to the General Meeting has been released on February 11, 2021.

March 22, 2021 Bittium Cancels the Notice to the Annual General Meeting Published on February 11, 2021 and Publishes a New Notice to the Annual General Meeting to be Held on April 14, 2021

Resolutions by the General Meeting: Resolutions will be published after the closing of the General Meeting on April 14, 2021.

Assembly of the Board of Directors: The elections by the Board of Directors concerning the Chairman of the Board and the compositions of the Board committees, if any, will be published after the Board's assembly meeting.

Bittium Corporation's Annual Report, Sustainability Report, Corporate Governance Statement and Remuneration Report from 2020 Have Been Published »

Notice to the General Meeting of Bittium Corporation 2021 (pdf, 186 kb) »

Bittium Corporation Financial Statement Bulletin 2020 (pdf, 371 kb) »

Correction to the Notice to the General Meeting of Bittium Corporation »

Bittium Corporation's Three Largest Shareholders Have Changed Their Proposal to the Annual General Meeting to Be Held on April 14, 2021 »

Bittium Cancels the Notice to the Annual General Meeting Published on February 11, 2021 and Publishes a New Notice to the Annual General Meeting to be Held on April 14, 2021 »

Decisions of the Annual General Meeting of Bittium Corporation (pdf,129 kb) »

Annual General Meeting Invitation and Materials

Bittium Annual Report 2020 (pdf, 6.8mb) »

Bittium Remuneration Report for the Financial Year 2020 (pdf, 883kb)

CV Petri Toljamo (pdf, 189kb) »

Notice to the General Meeting of Bittium Corporation 2021 released on February 11, 2021 (pdf, 186kb) »

Notice to the General Meeting of Bittium Corporation 2021 released on March 22, 2021 (pdf, 189kb) »

Proposals to the Annual General Meeting 2021 released on February 11, 2021 (pdf, 178kb) »

Proposals in accordance with the new notice to the Annual General Meeting 2021 released on March 22, 2021 (pdf, 165kb) »

Annual General Meeting 2021, CEO's Review (in Finnish) (pdf, 10.8mb) »

Annual General Meeting 2021, meeting minutes (pdf, 657 kb) »

Open/close section General Meeting 2020

Bittium's Annual General Meeting was held on June 15, 2020 at 12.00 pm at the company's headquarters in Oulu, Finland.

Shareholders and their proxy representatives could participate in the meeting and exercise their rights only by voting in advance and by making counterproposals and presenting questions in advance. No such counterproposals were delivered to the Company. Shareholders Questions to the Annual General Meeting are available on this internet page.

The meeting could not be attended on-site. The Annual General Meeting was arranged in accordance with an exceptional meeting procedure based on the temporary legislation to limit the spread of the Covid-19 pandemic approved by the Finnish Parliament.

Decisions of the Annual General Meeting

  • The Annual General Meeting adopted the financial statements for the financial year 2019, discharged the company's management from liability and resolved to support the remuneration policy for governing bodies.

  • The Annual General Meeting decided in accordance with the proposal of the Board of Directors that no dividend be distributed by the General Meeting and to authorize the Board of Directors to decide at a later stage and in its discretion on dividend distribution not exceeding the aggregate maximum amount of EUR 3.6 million in one or several instalments, which corresponds to approximately EUR 0.10 per share with the current number of shares. The authorization is effective until the beginning of the next Annual General Meeting, however, no longer than until June 30, 2021. The Company will publish the Board of Directors' possible decisions on dividend distribution, and simultaneously confirm the applicable record and payment dates for such dividend payments. Dividends paid on the basis of this authorization will be paid to shareholders who on the applicable record date for such dividend payment are recorded in the shareholders´ register held by Euroclear Finland Oy.

  • The Annual General Meeting decided that the Board of Directors shall comprise six (6) members. Ms. Riitta Tiuraniemi, Mr. Seppo Mäkinen, Mr. Juha Putkiranta, Mr. Pekka Kemppainen 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, Mr. Veli-Pekka Paloranta was elected as the new member of the Board of Directors for a corresponding term of office.

  • At its assembly meeting held on June 15, 2020, the Board of Directors has elected Mr. Erkki Veikkolainen as the Chairman of the Board. Further, the Board has resolved to keep the Audit Committee. Ms. Riitta Tiuraniemi (Chairman of the committee), Mr. Juha Putkiranta and Mr. Veli-Pekka Paloranta were elected as members of the Audit Committee.

  • The following monthly remuneration shall be paid to the members of the Board of Directors: to the chairman of the Board of Directors EUR 3,150 and to the other members of the Board of Directors EUR 1,800 each. In addition, the members of the Board of Directors are entitled to compensation for attending Board meetings as follows: the chairman of the Board EUR 875 for each meeting and other members EUR 500 for each meeting. In addition, the members of the Board of Directors are entitled to compensation for attending 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 50 percent of the total amount of the monthly remuneration of the members of the Board of Directors will be paid at once as Bittium Corporation's shares acquired for the price formed in public trading, through share issue or, in special circumstances if share based remuneration cannot be paid for some reason, in money. The shares will be acquired according to the share purchase program of the company. A member of the Board of Directors may not transfer the shares received as remuneration before his/her membership in the Board of Directors has ended.

  • 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. Jari Karppinen, APA, 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 2020 (stock exchange release, June 15, 2020)

Shareholders Questions to the Annual General Meeting

1. Question: What stage is the Spain pilot at? When can it be expected to hear about decisions on whether Bittium is included or not?

Answer: There have been many kinds of delays, changes and turns with the Spain 8x8 VCR acquisition program. Concerning the vehicle and weapon system platform, competition is likely to re-open. We estimate that for our part, decisions on the continuation of the acquisition program could be made at the end of this year. However, there have been a lot of changes and delays in the project so far and there may be even more in the future. 

2. Question: Preventice made a deal with UK Biobank, aiming to test the hearts of 30 000 English people with BodyGuardian Mini devices (Bittium Faros). How significant is this for Bittium?

Answer: This is a research project that aims to measure 30 000 patients over a 3-year period. As a sales volume of devices, the deal is not significant to us, but as a reference in the use of our products in demanding research projects, it is important.

3. Question: Was it significant for Bittium that Germany joined the ESSOR program? What are the realistic prospects for Bittium to do business with the German Defense Forces in the future?

Answer: Germany joining the ESSOR program was a great thing, strengthening the position of ESSOR as the waveform and standard for future tactical communication. This provides a good basis for the wider adoption of the ESSOR waveform by growing the waveform market. Bittium has been involved in the program since its inception and the company has a highly competitive tactical communications product portfolio that supports the ESSOR waveform. Germany now has its own national company in the ESSOR community, which provides tactical communication systems and devices to their own defense forces and naturally has a certain home field advantage over public procurements. However, they do not have a complete product portfolio that supports ESSOR and the German land forces are likely to purchase radios from other manufacturers as well, which provides Bittium with new opportunities. 

 

4. Question: There has been speculation among several small investors about the cooperation between Bittium and Inderes, which carries out share analyses, and the compensation that Bittium possibly pays. So the question is: does Bittium pay something to Inderes for their analyses? And if they do, a follow-up question: why? Inderes’s procedure is to make recommendations that are very incompletely in line with the truth, alternately positive and alternately negative, bringing exchange and variation into the share price that they themselves can take advantage of as a kind of an insider. From the shareholder’s point of view, the activity is questionable and especially if the company pays anything for it, it should be discontinued. Unfortunately, I cannot make a formal proposal for this to the meeting, but it would be desirable for the matter to still be discussed in the company, if that is the case.

Answer: Thank you for the feedback. Inderes (https://www.inderes.fi/fi/inderes) is an analysis service and community open to all equity investors. It carries out professional analyses to investors and we have been working with Inderes for several years to provide added value to our investors. Inderes’s mission as an independent third party is to provide our owners and the broad investor community with estimates and insights into the development of our company’s business. The purpose of the analysis is to support investor’s investment activities and to help investors understand the company’s business. With the feedback, we have had a discussion with the service provider and will pay special attention to the quality of the service in the future.

The General Meeting 2020 - CEO's Review

Video only in Finnish

Annual General Meeting Invitation and Materials

Notice to the General Meeting of Bittium Corporation 2020 (pdf, 186 kb) »

CV Veli-Pekka Paloranta (pdf, 189kb) »

Proposals to the Annual General Meeting 2020 (pdf, 178kb) »

Bittium Remuneration Policy 2020 (pdf, 255kb) »

Bittium Annual Report 2019 (pdf, 6.64mb) »

Bittium Report by the BoD and Financial Statements 2019 (pdf, 1.13mb) »

Annual General Meeting 2020, CEO's Review (in Finnish) (pdf, 10.4 mb) »

Annual General Meeting 2020, meeting minutes (pdf, 642 kb)»

Annual General Meeting Stock Releases

Notice to the General Meeting of Bittium Corporation 2020 (pdf, 186 kb) »

Bittium Corporation Financial Statement Bulletin 2019 (pdf, 371 kb) »

Decisions of the Annual General Meeting of Bittium Corporation (pdf,128 kb) »

Invitation, Materials and Stock Releases of the Cancelled Annual General Meeting

Notice to the General Meeting of Bittium Corporation 2020 (pdf, 170 kb) »

Proposals to the Annual General Meeting 2020 (pdf, 174kb) »

Bittium Corporation Cancels the Annual General Meeting from Wednesday April 1, 2020 and Postpones It to a Later Date (pdf, 113 kb)»

Open/close section General Meeting 2019

The Annual General Meeting of Bittium Corporation was held on April 10, 2019, at 1pm at 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 2018 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 0.05 per share as dividend based on the adopted balance sheet for the financial period of January 1, 2018 - December 31, 2018, representing approximately half of the result of the financial period, and in addition, EUR 0.10 per share as additional dividend, totaling altogether to EUR 0.15 per share. 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, April 12, 2019. The dividend will be paid on April 23, 2019.

  • The Annual General Meeting decided that the Board of Directors shall comprise six (6) members. Ms. Riitta Tiuraniemi, Mr. Seppo Mäkinen, Mr. Juha Putkiranta, Mr. Petri Toljamo 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, Mr. Pekka Kemppainen was elected as the new member of the Board of Directors for a corresponding term of office.

  • At its assembly meeting held on April 10, 2019, 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 3,150 and to the other members of the Board of Directors EUR 1,800 each. In addition, the members of the Board of Directors are entitled to compensation for attending Board meetings as follows: the chairman of the Board EUR 875 for each meeting and other members EUR 500 for each meeting. In addition, the members of the Board of Directors are entitled to compensation for attending 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 50 percent 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. Jari Karppinen, 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 2019 (stock exchange release, April 10, 2019)

Annual General Meeting invitation and materials

Proposals to the Annual General Meeting 2019 (pdf, 370 kb) »

Proposed composition of the Board of Directors (pdf, 519 kb) »

Annual Report 2018 (pdf, 10.5 mb) »

Report by the BoD and Financial Statements 2018 (pdf, 1.1 mb) »

Annual General Meeting 2019, CEO's Review (in Finnish) (pdf, 3.52 mb) »

Annual General Meeting 2019, meeting minutes (pdf 351 kb) »

Annual General Meeting stock releases

Notice to the General Meeting of Bittium Corporation 2019 (pdf, 112 kb) »

Bittium Corporation Financial Statement Bulletin 2018 (pdf, 397 kb) »

Decisions of the Annual General Meeting of Bittium Corporation (pdf, 356 kb) »

Open/close section 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 Invitation and Materials

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) »

Annual General Meeting Stock Releases

Bittium Corporation Financial Statement Bulletin 2017 (pdf, 747 kb) »
Notice to the General Meeting of Bittium Corporation 2018 (pdf, 540 kb) »

Open/close section General Meeting 2017

The Annual General Meeting of Bittium Corporation was held on Wednesday, April 12, 2017 at 1.00 p.m. at the address the University of Oulu, Saalastinsali, Pentti Kaiteran katu 1, 90590 Oulu, Finland.

Decisions of the Annual General Meeting:

  • The Annual General Meeting approved the annual accounts for the financial year 2016 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 0.05 per share as dividend and EUR 0.25 per share as additional dividend based on the adopted balance sheet for the financial period January 1, 2016 - December 31, 2016. The dividend will be paid to the shareholders registered in the company's register of shareholders maintained by Euroclear Finland Ltd on the dividend record date Tuesday, April 18, 2017. The dividend will be paid on Tuesday, April 25, 2017.

  • The Annual General Meeting decided that the Board of Directors shall comprise six (6) members. 

  • Ms. Kirsi Komi, Mr. Seppo Mäkinen, Mr. Juha Putkiranta, Mr. Staffan Simberg 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, Mr. Tero Ojanperä was elected as a new member of the Board of Directors for a corresponding term of office.

  • At its assembly meeting held on April 12, 2017, the Board of Directors has elected Mr. Erkki Veikkolainen as the Chairman of the Board. 

  • Further, the Board has resolved to keep the Audit Committee with Mr. Staffan Simberg (Chairman of the committee) and Ms. Kirsi Komi as committee members and authorized public accountant Mr. 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. 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 2017 (stock exchange release, April 12, 2017)

Annual General Meeting Invitation and Materials

Agenda, Bittium Corporation Annual General Meeting April 12, 2017 (pdf, 73.3 kb) »
Annual General Meeting 2017, CEO's Review (in Finnish) (pdf, 5.2 mb) »
Annual General Meeting 2017, Meeting Minutes (pdf, 125 kb) »
Annual Report 2016 (pdf, 5.57 mb) »
Proposals to the Annual General Meeting 2017 (pdf, 375 kb) »
Proposed composition of the Board of Directors (pdf, 546 kb) »
Report by the BoD and Financial Statements 2016 (pdf, 2.54 mb) »

Annual General Meeting Stock Releases

Bittium Corporation Financial Statement Bulletin 2016 (pdf, 411 kb) »
Decisions of the Annual General Meeting of Bittium Corporation (pdf, 104 kb) »
Notice to the General Meeting of Bittium Corporation 2017 (pdf, 386 kb) »

Open/close section General Meeting 2016

The Annual General Meeting of Bittium Corporation was held on April 19, 2016 at 1.00p.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 2015 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 0.05 per share as dividend based on the adopted balance sheet for the financial period January 1, 2015 - December 31, 2015 and EUR 0.25 per share as additional dividend. The dividend will be paid to the shareholders registered in the company's register of shareholders maintained by Euroclear Finland Ltd on the dividend record date Thursday, April 21, 2016. The dividend will be paid on Thursday, April 28, 2016.
  • The Annual General Meeting decided that the Board of Directors shall comprise five (5) members.
  • Ms. Kirsi Komi, Mr. Seppo Mäkinen, Mr. Juha Putkiranta, Mr. Staffan Simberg and Mr. Erkki Veikkolainen were elected members of the Board of Directors for a term of office expiring at the end of the next Annual General Meeting.
  • At its assembly meeting held on April 19, 2016, the Board of Directors has elected Mr. Erkki Veikkolainen as the Chairman of the Board.
  • Further, the Board has resolved to keep the Audit and Financial Committee with Mr. Staffan Simberg (Chairman of the committee) and Ms. Kirsi Komi as committee members and the former Chairman of the Board of Directors Mr. Seppo Laine was invited to the 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. 40 per cent of the total amount of the monthly remuneration will be paid as lump sum in Bittium Corporation's shares acquired at a price formed in public trading, and the shares will be acquired according to a share purchase program prepared by 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 other special rights entitling to shares.

Read more: The decisions of the Annual General Meeting 2016 (stock exchange release, April 19, 2016)

Annual General Meeting invitation and materials

Annual General Meeting 2016, CEO's Review (in Finnish, typing error corrected April 19, 2016) (pdf, 3.07 mb) »
Annual General Meeting, meeting minutes 2016 (pdf, 104 kb) »
Bittium Annual Report 2015 (pdf, 2.13 mb) »
Bittium Report by the BoD and Financial Statements 2015 (pdf, 373 kb) »
Agenda, Bittium Annual General Meeting April 19, 2016 (pdf, 69.9 kb) »
Proposals to the General Meeting 2016 (pdf, 110 kb) »
Proposed composition of the Board of Directors (pdf, 334 kb) »

Annual General Meeting stock releases

Decisions of the Annual General Meeting of Bittium Corporation (pdf, 114 kb) »
Notice to the General Meeting of Bittium Corporation 2016 (pdf, 120 kb) »
Financial Statement 2015 - Stock exchange release (pdf, 441 kb) »

Open/close section Extraordinary General Meeting 3/2015

On August 24, 2015 the Board of Directors of Bittium Corporation has given a notice to the shareholders of Bittium Corporation to an Extraordinary General Meeting to be held on Monday, September 14, 2015 at 1 pm. at the University of Oulu, Saalastinsali, at the address Pentti Kaiteran katu 1, 90570 Oulu, Finland.

Decisions of the Extraordinary General Meeting:

  • The Extraordinary General Meeting decided in accordance with the proposal of the Board of Directors that the Company repurchases its own shares and stock options 2008C entitling to Shares by means of a voluntary public tender offer made to all shareholders and holders of Stock Options.
  • Kirsi Komi, Juha Putkiranta and Seppo Mäkinen were elected as new members of the Board of Directors for a term commencing on November 5, 2015 and continuing until the close of the next Annual General Meeting.

Read more: The decisions of the Extraordinary General Meeting 2015 (stock exchange release, September 14, 2015)

Extraordinary General Meeting invitation and materials

Proposed composition of the Board of Directors (pdf, 331 kb) »

Proposals by the Board of Directors to the Extraordinary General Meeting 24.8.2015 (pdf,285 kb) >>

Extraordinary General Meeting, meeting minutes September 14, 2015 (pdf, 125 kb) »

Extraordinary General Meeting stock releases

Decisions of the Extraordinary General Meeting (held on September 14, 2015) of Bittium Corporation (pdf, 88,2 kb) »

Notice to the Extraordinary General Meeting of Bittium Corporation September 14, 2015 (pdf, 97.9 kb) »

Open/close section Extraordinary General Meeting 2/2015

On May 20, 2015 the Board of Directors of Elektrobit Corporation has given a notice to the shareholders of Elektrobit Corporation to an Extraordinary General Meeting to be held on Thursday, 11 June 2015 at 1 pm. at the University of Oulu, Saalastinsali, at the address Pentti Kaiteran katu 1, 90570 Oulu, Finland.

Decisions of the Extraordinary General Meeting:

  • The Extraordinary General Meeting of Elektrobit Corporation approved the sale of the Automotive Business to Continental AG.
  • The Extraordinary General Meeting also resolved to change section 1 of EB's Articles of Association and the name of the company. Implementation of the resolution is subject to the completion of the Transaction approved above in paragraph 6 §.

Read more: The decisions of the Extraordinary General Meeting 2015 (stock exchange release, June 11, 2015)

Extraordinary General Meeting invitation and materials

Extraordinary General Meeting, meeting minutes June 11, 2015 (pdf, 77.6 kb) »
Presentation for the Extraordinary General Meeting (in Finnish) (pdf, 318 kb) »
Proposals by the Board of Directors to the Extraordinary General Meeting 20.5.2015 (pdf, 53.9 kb) »

Extraordinary General Meeting stock releases

Elektrobit Corporation (EB) sells its Automotive business to Continental AG (pdf, 96.2 kb) »
Notice to the Extraordinary General Meeting 20.5.2015 (pdf, 258 kb) »

Open/close section Extraordinary General Meeting 1/2015

The Board of Directors of Elektrobit Corporation has on February 18, 2015 approved a plan for partial demerger of the company. Based on the demerger plan, the assets and liabilities related to EB's Wireless Business Segment will be transferred to Bittium Corporation ("Bittium") an entity to be newly established in the partial demerger that will be listed on the Nasdaq Helsinki. EB's Automotive Business Segment remains in Elektrobit Corporation, which will continue to be listed on the Nasdaq Helsinki.

On April 29, 2015 the Board of Directors of Elektrobit Corporation has given a notice to the shareholders of Elektrobit Corporation to an Extraordinary General Meeting to be held on Thursday, 11 June 2015 at 1 pm. at the University of Oulu, Saalastinsali, at the address Pentti Kaiteran katu 1, 90570 Oulu, Finland.

The proposals by the Board of Directors to the Extraordinary Shareholders Meeting (sections 6, 12 and 13)

The other proposals concerning will be announced at a later date (sections 7, 8, 9, 10, 11 and 14).

The proposals of the Board of Directors regarding the remuneration to members of Bittium Corporation's Board of Directors, the number of members and election of members, the election of auditor as well as the number of Elektrobit Corporation's Board members and on changes to the composition of the Board will be published later, on May 21, 2015 at the latest.

Extraordinary General Meeting invitation and materials

Notice to the Extraordinary General Meeting

Proposals by the Board of Directors to the Extraordinary General Meeting 29.4.2015 (sections 6, 12 and 13)

Statement of the Board of Directors on the events having essential effect 29.4.2015

Annual General Meeting minutes held on April 15, 2015

Demerger plan incl. appendices

Demerger plan presentation

Extraordinary General Meeting stock releases

Notice to the Extraordinary General Meeting 29.4.2015

Board of Directors of Elektrobit Corporation (EB) has approved a plan for partial demerger

Open/close section General Meeting 2015

The Annual General Meeting of Elektrobit Corporation (EB) was held on April 15, 2015 at 1.00p.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 2014 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 0.04 per share as dividend based on the balance sheet adopted for the financial period January 1, 2014 - December 31, 2014. The dividend will be paid to the shareholders who are registered in the shareholders' register maintained by Euroclear Finland Ltd on the dividend record date Friday, April 17, 2015. The dividend will be paid on Friday, April 24, 2015.
  • The Annual General Meeting decided that the Board of Directors shall comprise five (5) members. 
    Jorma Halonen, Juha Hulkko, Seppo Laine, Staffan Simberg and Erkki Veikkolainen were elected members of the Board of Directors for a term of office expiring at the end of the next Annual General Meeting.
  • At its assembly meeting held on April 15, 2015, the Board of Directors has elected Mr. Seppo Laine Chairman of the Board. 
  • Further, the Board has resolved to keep the Audit and Financial Committee with Mr. Staffan Simberg (Chairman of the committee), Mr. Seppo Laine and Mr. Erkki Veikkolainen as committee members.
    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. The members of the Board of Directors, who also act as Board members of other companies belonging to the Elektrobit Group, are also entitled to compensation for attending Board meetings of such other group companies as follows: EUR 1,200 for each meeting. Travel expenses of the members of the Board of Directors shall be reimbursed in accordance with the Company's travel policy.
  • Ernst & Young Ltd, 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 Ltd 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 other special rights entitling to shares.

Read more: The decisions of the Annual General Meeting 2015 (stock exchange release, April 15, 2015)

Annual General Meeting invitation and materials

Agenda, Elektrobit Annual General Meeting April 15, 2015 (pdf, 59.8 kb) »
Annual General Meeting, meeting minutes 2015 (pdf, 97.5 kb) »
Annual Report 2014 (pdf, 2.99 mb) »
Financial Statement 2014, published February 19, 2015 (pdf, 303 kb) »
Proposals to the General Meeting (pdf, 74.8 kb) »
Proposed Composition of the Board of Directors (pdf, 1.15 mb) »
Report by the Board of Directors and Financial Statements 2014 (pdf, 559 kb) »
Annual General Meeting, CEO's Review (in Finnish) (pdf, 2.99 mb) »

Annual General Meeting stock releases

Decisions of the Annual General Meeting of Elektrobit Corporation.pdf (pdf, 247 kb) »
Financial Statement 2014 (pdf, 303 kb) »
Notice to the General Meeting of Elektrobit Corporation 2015 (pdf, 59.8 kb) »

Open/close section General Meeting 2014

The Annual General Meeting of Elektrobit Corporation (EB) was held on April 10, 2014, 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 2013 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 0.02 per share as dividend based on the balance sheet adopted for the financial period January 1, 2013 - December 31, 2013. The dividend will be paid to the shareholders who are registered in the shareholders' register maintained by Euroclear Finland Ltd on the dividend record date, Tuesday, April 15, 2014. The dividend will be paid on Thursday, April 24, 2014. 
  • The Annual General Meeting decided that the Board of Directors shall comprise five (5) members. 
  • Jorma Halonen, Juha Hulkko, Seppo Laine, Staffan Simberg and Erkki Veikkolainen were elected members of the Board of Directors for a term of office expiring at the end of the next Annual General Meeting. 
    At its assembly meeting held on April 10, 2014, the Board of Directors has elected Mr. Seppo Laine Chairman of the Board. 
  • Further, the Board has resolved to keep the Audit and Financial Committee with Mr. Staffan Simberg (Chairman of the committee), Mr. Seppo Laine and Mr. Erkki Veikkolainen as committee members. 
  • 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. The members of the Board of Directors, who also act as Board members of other companies belonging to the Elektrobit Group, are also entitled to compensation for attending Board meetings of such other group companies as follows: EUR 1,200 for each meeting. Travel expenses of the members of the Board of Directors shall be reimbursed in accordance with the Company's travel policy. 
  • Ernst & Young Ltd, 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 Ltd 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 as follows. 
  • The General meeting authorized the Board of Directors to decide on the issuance of shares and other special rights entitling to shares.

Read more: The decisions of the Annual General Meeting 2014 (stock exchange release, April 10, 2014)

Annual General Meeting invitation and materials

Agenda, Elektrobit Annual General Meeting 10 April 2014.pdf (pdf, 39.8 kb) »
Annual General Meeting, CEO's Review (in Finnish).pdf (pdf, 861 kb) »
Annual General Meeting, meeting minutes 2014 (The file contains links to the publicly available appendices of the meeting minutes).pdf (pdf, 144 kb) »
Annual Report 2013.pdf (pdf, 2.22 mb) »
Financial Statements 2013, published February 20, 2014.pdf (pdf, 329 kb) »
Proposals to the General Meeting.pdf (pdf, 75.7 kb) »
Proposed Composition of the Board of Directors.pdf (pdf, 1.15 mb) »
Report by the Board of Directors and Financial Statements 2013.pdf (pdf, 378 kb) »

Annual General Meeting stock releases

Financial Statement 2013.pdf (pdf, 329 kb) »
Notice to the Annual General Meeting 2014.pdf (pdf, 61.8 kb) »

Open/close section Extraordinary General Meeting 2013

Elektrobit Corporation's Extraordinary General Meeting was held on Wednesday December 4, 2013 at 1.00 p.m. at the University of Oulu, Saalastinsali, at the address Pentti Kaiteran katu 1, 90570 Oulu, Finland. The reception of persons who have registered for the General Meeting and the distribution of voting tickets will commence at 12.30 p.m.

The Extraordinary General Meeting of Elektrobit Corporation (EB) was held on Wednesday December 4, 2013 at 1.00 p.m. at the University of Oulu, Saalastinsali, at the address Pentti Kaiteran katu 1, 90570 Oulu, Finland.

Extraordinary General Meeting Invitation and Materials

The Extraordinary General Meeting resolved in accordance with the proposal of the Board of Directors that on the basis of the financial statements adopted for the financial period ended on December 31, 2012, funds from the invested non-restricted equity fund be distributed to shareholders as a repayment of capital, with the capital repayment amounting to EUR 0.11 per share. The aggregate amount of the distribution based on the number of shares as of the date of the General Meeting would amount to EUR 14,311,096.25. The repayment of capital will be paid to shareholders recorded in the company's register of shareholders maintained by Euroclear Finland Ltd. on the record date of the capital repayment, December 10, 2013. The repayment of capital shall be paid on December 17, 2013.

As a result of the capital repayment the subscription prices of shares pursuant to the series 2008A-C stock options will be reduced with the amount of the capital repayment per share on the record date of the capital repayment in accordance with the terms of the stock options. Hence the share subscription price pursuant to stock options 2008A will reduce to EUR 0.07, pursuant to stock options 2008B to EUR 0.73 and pursuant to stock options 2008C to EUR 0.61.

Read more: Resolutions by the Extraordinary General Meeting and the minutes of the General meeting.

Important Dates

The record date for the General Meeting was Friday November 22, 2013.

Registration for the meeting had to be done no later than on Friday November 29, 2013 by 10.00 a.m. by giving a prior notice of participation.

Extraordinary General Meeting was held on Wednesday December 4, 2013 at 1.00 p.m. at the University of Oulu, Saalastinsali, at the address Pentti Kaiteran katu 1, 90570 Oulu, Finland.

The record date of the capital repayment is December 10, 2013.

The repayment of capital shall be paid on December 17, 2013.

Extraordinary General Meeting invitation and materials

Agenda.pdf (pdf, 64.4 kb) »
Decision on the distribution of assets, made after the end of the preceding financial period.pdf (pdf, 45.2 kb) »
Elektrobit EGM 2013, meeting minutes (The file contains links to the publicly available appendices of the meeting minutes).pdf (pdf, 21.9 kb) »
Interim Report, Jan. - Jun. - Stock Exchange Release.pdf (pdf, 254 kb) »
Interim Report, Jan. - Mar. - Stock Exchange Release.pdf (pdf, 261 kb) »
Interim Report, Jan. - Sep. - Stock Exchange Release.pdf (pdf, 284 kb) »
Report by the Board of Directors, Financial Statements 2012, and Auditor's report.pdf (pdf, 937 kb) »

Statement by the Board.pdf (pdf, 43.2 kb) »
The Proposal by the BoD for the distribution of funds.pdf (pdf, 57.8 kb) »

Extraordinary General Meeting stock releases

Notice to the Extraordinary General Meeting 2013.pdf (pdf, 51.6 kb) »

 

Open/close section General Meeting 2013

The Annual General Meeting of Elektrobit Corporation (EB) was held on April 11, 2013, 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 2012 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 0.01 per share as dividend based on the balance sheet adopted for the financial period January 1, 2012 – December 31, 2012. The dividend will be paid to the shareholders who are registered in the shareholders' register maintained by Euroclear Finland Ltd on the dividend record date April 16, 2013. The dividend will be paid on April 23, 2013. 
  • The Annual General Meeting decided that the Board of Directors shall comprise five (5) members.
  • Jorma Halonen, Juha Hulkko, Seppo Laine, Staffan Simberg and Erkki Veikkolainen were elected members of the Board of Directors for a term of office expiring at the end of the next Annual General Meeting. At its assembly meeting held on April 11, 2013, the Board of Directors has elected Mr. Seppo Laine Chairman of the Board.
    Further, the Board has resolved to keep the Audit and Financial Committee with Mr. Staffan Simberg (Chairman of the committee), Mr. Seppo Laine and Mr. Erkki Veikkolainen as committee members.
  • 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. The members of the Board of Directors, who also act as Board members of other companies belonging to the Elektrobit Group, are also entitled to compensation for attending Board meetings of such other group companies as follows: EUR 1,000 for each meeting. Travel expenses of the members of the Board of Directors shall be reimbursed in accordance with the Company's travel policy. 
  • Ernst & Young Ltd, 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 Ltd has notified that Mr. Jari Karppinen, 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 Annual General Meeting authorized the Board of Directors to decide on the repurchase of the Company's own shares. 
  • The Annual General Meeting authorized the Board of Directors to decide on the issuance of shares as well as the issuance of special rights entitling to shares.

Read more: The decisions of the Annual General Meeting 2013 (stock exchange release, April 11, 2013)

Annual General Meeting invitation and materials

Agenda, Elektrobit Annual General Meeting 11 April 2013.pdf (pdf, 34.9 kb) »
Annual General Meeting, CEO's Review (in Finnish).pdf (pdf, 742 kb) »
Annual General Meeting, meeting minutes 2013 (The file contains links to the publicly available appendices of the meeting minutes).pdf (pdf, 45.2 kb) »
Annual Report 2012.pdf (pdf, 2.24 mb) »
Financial Statements 2012, published on February 19, 2013.pdf (, Proposals by the Board of Directors.pdf (pdf, 75.1 kb) »
Proposed Composition of the Board of Directors, CV's.pdf (pdf, 1.16 mb) »
Report by the Board of Directors and Financial Statements 2012.pdf (pdf, 937 kb) »

Annual General Meeting stock releases

Financial Statements 2012.pdf (pdf, 260 kb) »
Notice to the Annual General Meeting 2013.pdf (pdf, 61.7 kb) »

Open/close section General Meeting 2012

Elektrobit Corporation's Annual General Meeting was held on Monday, March 26, 2012 in Oulu, Finland. 

Possible requests from shareholders to put matters, which fall within the domain of the General Meeting, on the agenda of Elektrobit Corporation's 2012 Annual General Meeting shall be sent to Elektrobit Corporation's Board of Directors no later than February 8, 2012. 

The written request, together with an explanation or a draft resolution, shall be sent to: 
Elektrobit Corporation / Legal Department, 
Tutkijantie 8, 
FI-90590 Oulu 

Registration to the General Meeting 2012

Each shareholder, who is registered on Wednesday 14 March 2012 in the shareholders' register of the company held by Euroclear Finland Ltd, has the right to participate in the General Meeting. A shareholder, whose shares are registered on his/her personal Finnish book-entry account, is registered in the shareholders' register of the company.

A shareholder, who is registered in the shareholders' register of the company and who wants to participate in the General Meeting, shall register for the meeting no later than on Wednesday 21 March 2012 by 10.00 a.m. by giving a prior notice of participation. The notice has to be received by the company before the end of the registration period. 

Registration via Euroclear Finland's registration services will start on February 17, 2012 at 10 a.m..

You can register to the Annual Genaral Meeting also by:

  • telephone 358 40 344 3322 or 358 40 344 5425 on weekdays between 9.00 a.m. and 4.00 p.m.;
  • telefax; 358 8 343 032; or
  • regular mail to the address Elektrobit Oyj, Yhtiökokous, Tutkijantie 8, 90590 Oulu, Finland.

A holder of nominee registered shares is advised to apply the instructions presented in the Notice to the General Meeting.

Shareholders, who have a Finnish book-entry account, may vote in advance on certain items on the agenda of the General Meeting through the above link between 10.00 a.m. on 17 February 2012 and 10.00 a.m. on 21 March 2012. The conditions and instructions relating to the electronic advance voting are available also available in the above link. The shareholder's book-entry account number is required for advance voting. A shareholder voting in advance will not be able to use his/her right according to the Companies Act to request information or a vote, and if matters on the agenda have changed after the beginning of the advance voting period his/her possibility to vote on such items may be restricted, unless he/she is present in the General Meeting in person or by way of proxy representation.  It is not possible to make a counterproposal when voting in advance. Changes to the votes cast in advance may be made through the above link until March 21, 2012 at 10.00 a.m. A shareholder may also make changes to his/her votes at the meeting venue by contacting the registration desk. Such changes are advised to be made before the beginning of the Meeting.

Description of the registration file

In the registration procedure to the General Meeting of Elektrobit Corporation, personal data of the shareholders is collected, such as the personal identity code and the number of the book-entry account. The information will not be used for any other purposes than for identifying the shareholder and for confirming the shareholding. The technical provider of the registration system is Euroclear Finland Oy. The full description of the registration file is available here.

Important dates

The record date for the General Meeting is Wednesday March 14, 2012.

Registration for the General Meeting shall be done no later than on Wednesday 21 March 2012 by 10.00 a.m.

The General Meeting of Elektrobit Corporation will be held on Monday 26 March 2012 at 1.00 p.m. at the University of Oulu, Saalastinsali, at the address Pentti Kaiteran katu 1, 90570 Oulu, Finland. The reception of persons who have registered for the General Meeting and the distribution of voting tickets will commence at 12.30 p.m. Coffee will be served after the meeting.

Stock Exchange Releases related to the General Meeting 2012

Notice to the General Meeting has been released on February 16, 2012. 

Resolutions by the General Meeting: Resolutions will be published after the closing of the General Meeting on March 26, 2012.

Assembly of the Board of Directors: The elections by the Board of Directors concerning the Chairman of the Board and the compositions of the Board committees, if any, will be published after the Board's assembly meeting.

Annual General Meeting invitation and materials

Agenda, Elektrobit Annual General Meeting 26 March 2012.pdf (pdf, 15.7 kb) »
Annual General Meeting, CEO's Review (in Finnish).pdf (pdf, 751 kb) »
Annual General Meeting, meeting minutes 2012 (The file contains links to the publicly available appendices of the meeting minutes).pdf (pdf, 358 kb) »
Annual Report 2011.pdf (pdf, 1.24 mb) »
Notice to the Annual General Meeting 2012 (in Finnish).pdf (pdf, 39.2 kb) »
Proposals by the Board of Directors.pdf (pdf, 44.5 kb) »
Proposed Composition of the Board of Directors, CVs.ENG.pdf (pdf, 144 kb) »

Annual General Meeting stock releases

Decisions of the Annual General Meeting of Elektrobit Corporation.pdf (pdf, 46.3 kb) »
Financial Statements 2011, published on February 16, 2012.pdf (pdf, 193 kb) »
Notice to the Annual General Meeting 2012.pdf (pdf, 62.2 kb) »

Open/close section General Meeting 2010

Instructions for holders of nominee registered shares

A holder of nominee registered shares, who wants to participate in the General Meeting, shall be temporarily entered into the shareholders' register of the company at the latest on 22 March 2010 by 10 a.m. Temporary registration into the shareholders' register is deemed as a simultaneous registration for the General Meeting.

Changes in shareholding that have occured after the record date of the General Meeting 15 March 2010 do not affect the right to participate in the General Meeting or the number of votes held by the shareholder.

A shareholder may participate in the General Meeting and exercise his/her rights at the General Meeting by way of proxy representation. A holder of nominee registered shares may issue a proxy document to his/her custodian in accordance with separate instructions given by the custodian. If a shareholder wants to authorize as representative some other party than his/her custodian, such representative shall present a dated proxy document or in another reliable manner demonstrate his/her right to represent the shareholder.

A holder of nominee registered shares is adviced to request without delay necessary instructions regarding the registration in the shareholders register of the company, the issuing of proxy documents and registration for the General Meeting from his/her custodian bank.

Annual General Meeting invitation and materials

Agenda, Elektrobit Annual General Meeting 25 March 2010.pdf (pdf, 15.7 kb) »
Annual General Meeting, CEO's Review (available in Finnish).pdf (pdf, 408 kb) »
Annual Report 2009.pdf (pdf, 1.41 mb) »
Notice to the General Meeting.pdf (pdf, 70.6 kb) »
Proposals by the Board of Directors.pdf (pdf, 64.5 kb) »
Proposed Composition of the Board of Directors, CVs.pdf (pdf, 142 kb) »