Valmet Oyj's Annual General Meeting Notification
Valmet Oyj hereby notifies its shareholders regarding the Annual General Meeting (AGM) set to occur on March 26, beginning at 1:00 PM. The meeting will take place at the Scandic Marina Congress Center. Shareholders can also vote in advance and follow the meeting via webcast if they've registered. The access to coffee and refreshments will be provided afterward.
Agenda Overview
The meeting will cover several crucial items on the agenda:
Key Agenda Items
- Opening of the meeting
- Election of individuals to scrutinize the minutes and verify voting
- Presentation and adoption of financial statements for the previous year
- Discussion on dividend distribution
- Election of Board members and remuneration proposals
- Authorization for share buybacks and issuance
- Closing the meeting
Financial Statements and Dividend Proposal
Valmet's financial statements for the preceding year underlines significant accomplishments. As of December 31, the distributable equity stood at approximately EUR 1.58 billion, with a net profit of around EUR 332.9 million for the year.
The Board of Directors suggests a dividend of EUR 1.35 per share. The payment will be split into two installments, with the first installment at EUR 0.68 payable on April 8 to registered shareholders. The second installment of EUR 0.67 is slated for October, pending the resolution by the Board of Directors in September.
Voting and Participation Guidelines
Shareholders registered in Valmet's shareholder registry have the right to participate in the AGM. Those wishing to attend must register before the deadline, which is set for March 19 at 4:00 PM.
Advance voting is permitted, enabling shareholders to express their preferences regarding the resolutions proposed at the meeting. Registration opens on February 19, allowing the shareholders various methods to participate—online, via mail, or by contacting Innovatics Ltd. directly by phone.
Board of Directors Elections
The Nomination Board proposes elections for Board members at this AGM. Current members seeking re-election include several familiar faces in the industry. The proposals will reflect an emphasis on continuity while also considering fresh perspectives through new nominations.
Independent Board Evaluation
Following evaluation, the proposed candidates are deemed independent of the Company and larger shareholders, except for a couple of exceptions noted in the proposal.
Auditor and Assurance Provider
Furthermore, the Board will also make proposals regarding the Auditor for the Company, reinforcing governance standards and accountability. PricewaterhouseCoopers Oy is recommended for re-election as the auditor, ensuring adherence to financial regulations and reporting integrity.
Share Buyback and Issuance Authority
Valmet's Executive Board is advocating for authorization to repurchase shares, which may total around 9.2 million shares, equivalent to 5 percent of the total shares. Similarly, they will seek permission for the issuance of new shares, possibly amounting to 18.5 million shares.
These actions will support the Company’s capital structure, fostering additional investment opportunities and shareholder value in the longer term.
FAQs
What is the purpose of the Annual General Meeting?
The AGM aims to review financial results, discuss the distribution of dividends, and elect members to the Board of Directors.
When will the meeting take place?
The meeting is scheduled for March 26, starting at 1:00 PM at the Scandic Marina Congress Center.
How can shareholders participate in the meeting?
Shareholders must register before March 19 to participate, with options for advance voting also available.
What is the proposed dividend?
The Board has proposed a dividend of EUR 1.35 per share, distributed in two installments.
Who is recommended for auditor re-election?
PricewaterhouseCoopers Oy is recommended for re-election as the Company’s auditor.
