Ahlstrom AGM confirms number of BoD members unchanged

02 Apr '08

4 min read

Ahlstrom Corporation's Annual General Meeting of Shareholders (AGM) was held April 2, 2008 at 1:00 p.m.

Resolution on the distribution of profits:
The AGM resolved to distribute a dividend of EUR 1.00 per share for the fiscal year that ended on December 31, 2007 in accordance with the proposal of the Board of Directors. The dividend record date is April 7, 2008 and the pay date April 14, 2008. In addition, the AGM resolved to reserve EUR 70,000 to be used for the public good at the discretion of the Board of Directors.

Approval of the Financial Statements and Consolidated Financial Statements:
The AGM approved the financial statements and consolidated financial statements and discharged the members of the Board of Directors and the CEO from liability for the financial period January 1–December 31, 2007.

Remuneration and election of the Board of Directors:
The AGM confirmed the number of Board members unchanged at seven. Thomas Ahlström, Sebastian Bondestam, Jan Inborr, Bertel Paulig, Peter Seligson and Willem F. Zetteler were re-elected as members of the Board of Directors and Martin Nüchtern was elected as a new member as proposed by the Compensation and Nomination Committee of the Board. The term of the Board of Directors will expire at the close of the next Annual General Meeting.

It was decided that the Chairman of the Board of Directors will receive a remuneration of EUR 5,400 per month. For the members of the Board of Directors, the remuneration was decided to be EUR 2,700 per month. In addition, the remuneration for attendance at the meetings of the permanent Board committees was decided to be EUR 1,150 per meeting. Travel expenses are reimbursed in accordance with Ahlstrom's travel policy.

Remuneration and election of the auditor:
PricewaterhouseCoopers Oy (PWC) was elected as Ahlstrom's auditor as recommended by the Audit Committee. PricewaterhouseCoopers Oy (PWC) has designated Authorized Public Accountant Eero Suomela as auditor in charge. The auditor's remuneration will be paid according to invoicing.

Authorization to repurchase Ahlstrom shares:
The AGM authorized the Board of Directors to repurchase Ahlstrom shares as proposed by the Board of Directors, taking into account the limitations set forth in the Companies' Act. The maximum number of shares to be repurchased is 4,500,000, corresponding to less than 10% of all issued Company shares.

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