The Company’s Annual General Meeting resolved on 10 May 2021 to authorise the Board of Directors to decide on the issuance of new shares as well as conveyance of shares held by the Company in one or more instalments against or without payment, and the issuance of special rights entitling to shares referred to in Chapter 10, Section 1 of the Finnish Companies Act by one or several decisions. The number of shares that may be issued pursuant to the authorisation and the number of shares that may be issued or conveyed by virtue of the authorisation to issue special rights entitling to shares cannot exceed 4,500,000 shares. The authorisation is valid until 10 May 2026.
The Company’s Annual General Meeting resolved on 10 May 2021 to authorise the Board of Directors to decide on the repurchase of the Company’s own shares in one or several tranches. The number of the Company’s own shares that may be repurchased by virtue of the authorisation cannot exceed 4,500,000 shares. Only the unrestricted equity of the Company can be used for repurchasing own shares on the basis of the authorisation. Under the authorisation, a shareholder can convey shares back to the Company against or without payment. Own shares can be repurchased for at most at the price formed for shares in public trading or at the price otherwise formed on the market on the purchase day. The authorisation given to the Board of Directors includes the right to decide on how own shares are repurchased. Own shares can be repurchased otherwise than in proportion to the shareholdings of the shareholders. The authorisation is valid until 10 November 2022.
The Company’s Annual General Meeting held in 5 May, 2022 authorized Board of Directors to grant option rights entitling Sari Pohjonen, elected new member of the Board of Directors, to subscribe for a maximum of 40 000 shares in the company. The subscription price for the shares would be the volume-weighted average price of the company share for the previous thirty days prior to the allocation of such options. The Board of Directors was authorized to decide on the other specific terms of such option issue. The authorization is effective until 30 June 2023.
The Annual General Meeting held 4 May 2023 authorized to resolve on the issuance of shares and special rights entitling to shares. The total number of shares that may be issued under the authorization for purposes other than incentive schemes may not exceed 5 150 000 shares, which corresponds to approximately 10 percent of all shares in the Company. In addition, a maximum of 800 000 shares, corresponding to approximately 1.6 percent of the total number of shares in the Company, may be issued for the purposes of incentive schemes. Shares may be issued directly or via special rights. The authorization cancels the authorization granted by the Annual General Meeting 2021 to resolve on the issuance of shares and special rights entitling to shares. The authorization is valid until 30 June 2024.