DECISIONS OF THE EXTRAORDINARY GENERAL MEETING OF EFORE PLC

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News Desk 2018

Aug 27, 2013 at 2:15 AM

Espoo, 2013-08-27 08:00 CEST (GLOBE NEWSWIRE) -- EFORE PLC Stock Exchange Release 27 August 2013 at 9.00 a.m. Efore Plc’s Extraordinary General Meeting was held in Helsinki on 26 August 2013. Altogether 47.0 per cent of all company shares and votes attended the Meeting. Attorney-at-Law Mika Taberman served as the Chairman of the Extraordinary General Meeting. ELECTION OF BOARD MEMBERS The Extraordinary General Meeting decided, in accordance with the Board’s proposal, that the number of Board members shall be set at seven (7) instead of the current five (5). Mr Francesco Casoli and Ms Päivi Marttila were elected as the new members of the Board of Directors. Information about Mr Francesco Casoli and Ms Päivi Marttila is available on Efore Plc’s website at address www.efore.com. AUTHORISATION OF THE BOARD OF DIRECTORS TO DECIDE UPON A SHARE ISSUE AND THE ISSUANCE OF OTHER SPECIAL RIGHTS ENTITLING TO SHARES The Extraordinary General Meeting authorised the Board of Directors to decide, in one or more instalments, on the issuance of shares and other special rights entitling to shares referred to in Chapter 10 Section 1 of the Finnish Limited Liability Companies Act. The Extraordinary General Meeting decided that the number of shares to be issued may amount to a maximum of 10,000,000 shares. The Extraordinary General Meeting authorised the Board of Directors to decide upon all terms and conditions applicable to the issuances of shares and other special rights entitling to shares. The authorisation concerns both the issuance of new shares as well as the transfer of treasury shares. The issuance of shares and options as well as other special rights entitling to shares referred to in Chapter 10 Section 1 of the Finnish Limited Liability Companies Act may be carried out in deviation from the shareholders’ pre-emptive rights (directed issue) . The authorisation supersedes the authorisation granted by the Annual General Meeting on 7 February 2013 to decide upon the issuance of shares and special rights entitling to shares to the extent that the previous authorisation was not used by 5 August 2013. The authorisation shall remain valid until 30 June 2014. AUTHORISING THE BOARD OF DIRECTORS TO DECIDE ON THE ACQUISITION OF THE COMPANY’S OWN SHARES The General Meeting decided, in accordance with the proposal of the Board of Directors, to authorise the Board of Directors to decide upon the acquisition of the company’s own shares or their acceptance as pledge in one or more instalments on the following terms and conditions: The amount of own shares to be acquired shall be a maximum of 4,777,000 shares, constituting approximately 9.9% of all company shares. Shares in the company may be acquired only by using the company’s unrestricted equity. The shares may be acquired in public trading arranged by NASDAQ OMX Helsinki Oy at the prevailing market price on the date of acquisition, or at a price otherwise dictated by the market . The Board of Directors decides on the manner in which the said own shares are acquired or accepted as pledge . The acquisition may be made using, inter alia , derivatives . Shares may be acquired otherwise than in proportion to the holdings of the shareholders (directed acquisition) . The authorisation shall remain valid until 30 June 2014. The authorisation shall supersede the authorisation granted by the Annual General Meeting on 7 February 2013 to decide on the acquisition of the company’s own shares. EFORE PLC Board of Directors For further information, please contact Mr Vesa Vähämöttönen, CEO, tel. +358 9 4784 6312. DISTRIBUTION NASDAQ OMX Helsinki Oy Principal media Efore Group The Efore Group is an international company that develops and produces demanding power products. Efore's head office is based in Finland, and its production units are located in China and Tunisia. Sales and marketing operations are located in Europe, the United States and China. In the fiscal year ending in October 2012, consolidated net sales totalled EUR 78.1 million, and the Group's personnel averaged 888. The company's shares are quoted on Nasdaq OMX Helsinki Oy. www.efore.fi

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