Stock exchange release
Outokumpu - Resolutions of the Annual General Meeting 2022
Outokumpu's Annual General Meeting 2022 was held today on
The Meeting approved the financial statements and discharged the management of the company from liability for the financial year 2021. The Meeting decided that a dividend of
The Meeting was opened by the Chairman of the Board of Directors
Financial statements and liability
The Annual General Meeting approved the parent company's and the Group's financial statements and discharged the members of the Board of Directors and the CEO from liability for the financial year 2021.
Dividend
The Annual General Meeting decided that a dividend of
Board of Directors
The Annual General Meeting decided in accordance with the proposal by the Nomination Board that the Board of Directors consists of eight (8) members. Of the current members of the Board of Directors
The Annual General Meeting decided in accordance with the proposal by the Nomination Board to increase the annual remuneration of the Board of Directors as follows:
The Annual General Meeting decided in accordance with the proposal by the Nomination Board to keep the meeting fees, which are paid also for the Board Committee meetings, at the same level as during the previous term:
Auditor
The Annual General Meeting elected accounting firm
Authorization to decide on the repurchase of the company's own shares
The Annual General Meeting authorized the Board of Directors to resolve to repurchase a maximum of 45,000,000 of Outokumpu's own shares, currently representing approximately 9.85% of Outokumpu's total number of registered shares. The own shares may be repurchased pursuant to the authorization only by using unrestricted equity. The price payable for the shares shall be based on the price of the company's shares on the day of repurchase in public trading or otherwise at the price prevailing on the market.
The Board of Directors is authorized to decide how the own shares will be repurchased. The own shares may be repurchased in deviation from the proportional shareholdings of the shareholders (directed repurchase). Shares may also be acquired outside public trading. In connection with the acquisition of the company's 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. The repurchased own shares may be held by the company, cancelled or transferred further. The aggregate number of Outokumpu's own shares held by the company and its subsidiaries may not, however, exceed 10% of the total number of registered shares. The authorization will be in force until the end of the next Annual General Meeting, however expiring at the latest on
Authorization to decide on the issuance of shares as well as other special rights entitling to shares
The Annual General Meeting authorized the Board of Directors to resolve to issue a maximum of 45,000,000 shares through one or several share issues and/or by granting special rights entitling to shares, as specified in Chapter 10, Section 1, of the Finnish Companies Act, excluding option rights to Outokumpu's management and personnel under an incentive plan. 45,000,000 shares currently represent approximately 9.85% of Outokumpu's total number of registered shares.
The Board of Directors resolves upon all other terms and conditions of the share issue and of the issue of special rights entitling to shares. The Board of Directors has the authority to resolve upon the issue of shares and special rights in deviation of the pre-emptive subscription right of the shareholders (directed issue). The authorization covers both the issuance of new shares and the transfer of own shares. The authorization is valid until the end of the next Annual General Meeting, however expiring at the latest on
Authorization to decide on donations for charitable purposes
The Annual General Meeting authorized the Board of Directors to decide on donations of up to
The minutes of the Annual General Meeting 2022
The minutes of the Annual General Meeting will be available on the company's website at www.outokumpu.com/agm2022 as from
For more information:
Investors: Linda Häkkilä, Head of Investor Relations, tel. +358 40 071 9669
Media: Päivi Allenius, VP - Communications, tel. +358 40 753 7374
Outokumpu is the global leader in stainless steel. The foundation of our business is our ability to tailor stainless steel into any form and for almost any purpose. Stainless steel is sustainable, durable and designed to last forever. Our customers use it to create civilization's basic structures and its most famous landmarks as well as products for households and various industries. Outokumpu employs some 9,000 professionals in more than 30 countries, with headquarters in
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