The AGM supported all the proposals presented to the meeting and approved the remuneration report. The AGM adopted the company's Financial Statements and Consolidated Financial Statements for 2021 and discharged the Board of Directors and the President & CEO from liability for 2021.
Dividend of
The AGM approved the Board of Directors' proposal that a dividend of
The first instalment of dividend,
The second instalment of dividend,
The Board of Directors is authorized to set a new dividend record date and payment date for the second instalment of the dividend, in case the rules and regulations on the Finnish book-entry system would be changed, or otherwise so require.
Composition and remuneration of the Board of Directors
In accordance with the proposal made by the Shareholders' Nomination Board, the AGM confirmed the number of members of the Board of Directors at nine.
The AGM decided that the following were re-elected to serve until the end of the next AGM: Mr.
Mr.
The AGM decided on the remuneration to the Board as follows:
- Chair:
EUR 78,100 per annum -
Vice Chair:
EUR 54,400 per annum -
Member:
EUR 37,900 per annum -
Chair of Audit Committee:
EUR 54,400 per annum if he or she does not simultaneously act as Chair or Vice Chair of the Board
The AGM decided on the remuneration for committee work as follows:
- other members of the Audit Committee than its Chair will, for such position, be paid
EUR 3,000 -
the Chair of the
Personnel and Remuneration Committee will, for such position, be paidEUR 5,000 , and its members will, for such position, be paidEUR 2,000 -
the Chair of another committee established based on Board decision will, for such position, be paid
EUR 5,000 , and its members will, for such position, be paidEUR 2,000 .
In addition to the annual fee, members of the Board of Directors receive a meeting fee of
The AGM decided that a portion of 40% of the fixed annual fee will be paid in the form of shares and the remainder in cash. Committee and meeting fees will be paid in cash. The shares will be purchased directly on behalf of the Board members within two weeks after the publication of the interim report for the period 1 January to
Company Auditor
In accordance with a proposal by the Board of Directors,
Authorizing the Board of Directors to decide the buyback of Company shares
The AGM approved the authorization, under which the Board is authorized to decide the purchase of and/or take as security a maximum of 23,000,000 Company shares using the Company's unrestricted equity. The number of shares shall be equivalent to approximately 2.99% of the Company's total shares.
Shares may be purchased in one or more lots. The purchase price shall be at least the lowest price paid for Company shares in regulated trading at the time of purchase and no more than the highest price paid for Company shares in regulated trading at the time of purchase. In connection with the buyback of Company shares, derivative, share lending, or other agreements that are normal within the framework of capital markets may take place in accordance with legislative and regulatory requirements and at a price determined by the market. The authorization shall allow the Board to decide to purchase shares otherwise than in proportion to shareholders' current holdings (directed buyback).
Shares so purchased can be used as consideration in possible acquisitions or in other arrangements that are part of the Company's business, to finance investments, as part of the Company's incentive program, or be retained, conveyed, or cancelled by the Company.
The Board of Directors shall decide the other terms related to the buyback of Company shares. The buyback authorization shall remain in force for eighteen (18) months from the decision taken by the AGM. The authorization shall revoke the buyback authorization granted to the Board of Directors by the AGM on
Availability of the minutes for review
The minutes of the AGM will be available at neste.com from
Susanna Sieppi
Vice President, Communications
Further information:
Neste in brief
Neste (NESTE, Nasdaq Helsinki) creates solutions for combating climate change and accelerating a shift to a circular economy. We refine waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. We are the world's leading producer of sustainable aviation fuel and renewable diesel and developing chemical recycling to combat the plastic waste challenge. We aim at helping customers to reduce their greenhouse gas emissions with our renewable and circular solutions by at least 20 million tons annually by 2030. Our ambition is to make the Porvoo oil refinery in
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