STORA ENSO OYJ STOCK EXCHANGE RELEASE
Resolution on the use of the profit shown on the balance sheet and the payment of dividend
The AGM approved the proposal by the Board of Directors that the Company shall distribute a dividend of
The dividend shall be paid to shareholders who on the record date of the dividend payment, Monday
The dividend shall be paid on or about Monday
Members of the Board of Directors
The AGM approved the proposal by the Shareholders' Nomination Board, in accordance with which the current members of the Board of Directors - Håkan Buskhe,
In accordance with the proposal by the Shareholders' Nomination Board, the AGM elected
Remuneration
The AGM approved the proposal by the Shareholders' Nomination Board on the annual remuneration for the Board of Directors as follows:
Chair
Vice Chair
Members
The AGM also approved the proposal by the Shareholders' Nomination Board that the annual remuneration for the members of the Board of Directors, be paid in Company shares and cash so that 40% will be paid in Stora Enso R shares to be purchased on the Board members' behalf from the market at a price determined in public trading, and the rest in cash. The shares will be purchased within two weeks of the publication of the interim report for the period 1 January 2023-31 March 2023 or as soon as possible in accordance with applicable legislation. The Company will pay any costs and transfer tax related to the purchase of Company shares.
The AGM approved the annual remuneration for the Board committees in accordance with the proposal by the Shareholders' Nomination Board as follows:
Financial and
Chair
Members
People and
Chair
Members
Chair
Members
Auditor
The AGM resolved, in accordance with the proposal by the Board of Directors, to elect
Board authorisation to decide on repurchase and issuance of shares
In accordance with the proposal by the Board of Directors, the AGM resolved to authorise the Board of Directors to decide on the repurchase of Stora Enso R shares as follows:
The amount of R shares to be repurchased shall not exceed 2,000,000 shares, which corresponds to approximately 0.25% of all shares and 0.33% of all R shares in the Company. Own R shares can be repurchased otherwise than in proportion to the shareholdings of the shareholders (directed repurchase). Own R shares can be repurchased using the unrestricted equity of the Company at a price formed in public trading on the date of the repurchase or otherwise at a price determined by the markets.
Own R shares may be repurchased primarily in order to use the shares as part of the Company's incentive and remuneration scheme. The repurchased shares may be held for reissue, cancelled or transferred further.
In accordance with the proposal by the Board of Directors, the AGM also resolved to authorise the Board of Directors to decide on the issuance of Stora Enso R shares as follows:
The amount of R shares to be issued based on this authorisation shall not exceed a total of 2,000,000 R shares, corresponding to approximately 0.25% of all shares and 0.33% of all R shares. The authorisation covers both the issuance of new R shares as well as the transfer of own shares held by the Company.
The issuance of shares may be carried out in deviation from the shareholders' pre-emptive rights for the purpose of using the shares as part of the Company's incentive and remuneration scheme.
The authorisations are effective until the beginning of the next AGM, however, no longer than until
Amendment of the Articles of Association
The AGM approved the proposal by the Board of Directors to amend the Company's Articles of Association to enable arranging a General Meeting of Shareholders as a virtual meeting without a meeting venue as an alternative for a physical meeting or a hybrid meeting. The amendment facilitates the holding of General Meetings of Shareholders virtually among others in situations like pandemics or other unforeseen or exceptional circumstances, however not limited to these situations. The amendments do not preclude arranging General Meetings of Shareholders as in-person or hybrid meetings.
Decisions by the Board of Directors
For further information, please contact:
Anna-Lena Åström
SVP Investor Relations
tel. +46 70 210 7691
Part of the global bioeconomy,
For further information, please contact:
Anna-Lena Åström
SVP Investor Relations
tel. +46 70 210 7691
https://news.cision.com/stora-enso-oyj/r/stora-enso-s-annual-general-meeting-and-decisions-by-the-board-of-directors,c3735769
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