HELSINKI, Finland, Feb. 4, 2015 (GLOBE NEWSWIRE) -- The Board of Directors has today decided to convene the Annual General Meeting to be held on 22 April 2015.
Notice to the Annual General Meeting
Notice is given to the shareholders of Stora Enso Oyj to the Annual General Meeting to be held on Wednesday 22 April 2015 at 4 p.m. Finnish time at Marina Congress Center, Katajanokanlaituri 6, Helsinki, Finland. The reception of persons who have registered for the meeting will commence at 3 p.m. Finnish time.
The Annual General Meeting (AGM) will be conducted in the Finnish language. Simultaneous translation will be available in the meeting room into the Swedish, English and, when relevant, Finnish languages.
A. Matters on the agenda of the AGM
At the AGM, the following matters will be considered:
1. Opening of the meeting
2. Calling the meeting to order
3. Election of persons to confirm the minutes and to supervise the counting of votes
4. Recording the legality of the meeting
5. Recording the attendance at the meeting and adoption of the list of votes
6. Presentation of the annual accounts, the report of the Board of Directors and the auditor's report for the year 2014
- CEO's report
7. Adoption of the annual accounts
8. Resolution on the use of the profit shown on the balance sheet and the payment of dividend
The Board of Directors proposes to the AGM that a dividend of EUR 0.30 per share be distributed for the year 2014.
The dividend would be paid to shareholders who on the record date of the dividend payment, 24 April 2015, are recorded in the shareholders' register maintained by Euroclear Finland Oy or in the separate register of shareholders maintained by Euroclear Sweden AB for Euroclear Sweden registered shares. Dividends payable for Euroclear Sweden registered shares will be forwarded by Euroclear Sweden AB and paid in Swedish krona. Dividends payable to ADR holders will be forwarded by Deutsche Bank Trust Company Americas and paid in US dollars.
The Board of Directors proposes to the AGM that the dividend be paid on 13 May 2015.
9. Resolution on the discharge of the members of the Board of Directors and the CEO from liability
10. Resolution on the remuneration for the members of the Board of Directors
The Nomination Board proposes to the AGM that the annual remuneration for the members of the Board of Directors be maintained at the 2014 level as follows:
Board of Directors
|Chairman||EUR 170 000|
|Vice Chairman||EUR 100 000|
|Members||EUR 70 000|
The Nomination Board also proposes that the members of the Board of Directors, based on the AGM's decision, use 40% of the above mentioned annual remuneration for purchasing Stora Enso R shares from the market and that the purchases will be carried out within two weeks from the AGM.
It is further proposed that the annual remuneration for the members of the Financial and Audit Committee and Remuneration Committee be kept at its present level, and the remuneration for the members of the Global Responsibility and Ethics Committee be raised to the same level as for the Remuneration Committee, as follows:
Financial and Audit Committee
|Chairman||EUR 20 000|
|Members||EUR 14 000|
|Chairman||EUR 10 000|
|Members||EUR 6 000|
Global Responsibility and Ethics Committee
|Chairman||EUR 10 000|
|Members||EUR 6 000|
Remuneration shall, however, not be paid to such chairmen or members of the Board and Board Committees who are employed on a full time basis by the company or its subsidiaries.
11. Resolution on the number of members of the Board of Directors
The Nomination Board proposes to the AGM that the Board of Directors shall have eight (8) members.
12. Election of members of the Board of Directors
The Nomination Board proposes to the AGM that of the current members of the Board of Directors - Gunnar Brock, Anne Brunila, Elisabeth Fleuriot, Hock Goh, Mikael Makinen, Richard Nilsson, Juha Rantanen and Hans Straberg, - be re-elected members of the Board of Directors until the end of the following AGM.
Birgitta Kantola has announced that she is not available for re-election to the Board of Directors.
13. Resolution on the remuneration for the auditor
The Board of Directors proposes to the AGM that remuneration for the auditor be paid according to invoice approved by the Financial and Audit Committee.
14. Election of auditor
The Board of Directors proposes to the AGM that the current auditor Deloitte & Touche Oy, Authorized Public Accountants, be re-elected auditor until the end of the following AGM.
15. Appointment of Nomination Board
The Nomination Board proposes that the AGM appoints a Nomination Board to prepare proposals concerning
a) the number of members of the Board of Directors,
b) the election of members of the Board of Directors,
c) the remuneration of the Chairman, Vice Chairman and members of the Board of Directors, and
d) the remuneration of the Chairman and members of the Committees of the Board of Directors.
The Nomination Board shall consist of the following four members:
- the Chairman of the Board of Directors
- the Vice Chairman of the Board of Directors
- two other members appointed by the two largest shareholders as of 30 September 2015, appointing one each.
The largest shareholders are determined on the basis of their shareholdings registered in the company's shareholders' register. In addition, shareholders who under the Finnish Securities Markets Act have an obligation to disclose certain changes in ownership (shareholder subject to disclosure notification) will be taken into account provided that they notify their shareholdings to the Board of Directors in writing by 30 September 2015. A shareholder may change its representative appointed to the Nomination Board for significant reasons.
The Chairman of the Board of Directors shall convene the Nomination Board and the Nomination Board shall at the latest on 31 January 2016 present its proposals to the Board of Directors for the AGM to be held in 2016. A member of the Board of Directors may not be appointed Chairman of the Nomination Board. Members of the Nomination Board shall not receive separate compensation.
16. Decision making order
17. Closing of the meeting
B. Documents of the AGM
The proposals for decisions relating to the agenda of the AGM and this notice are available on Stora Enso Oyj's website at www.storaenso.com/agm. Stora Enso's annual accounts, the report of the Board of Directors and the auditor's report for 2014 will be published on Stora Enso Oyj's website www.storaenso.com/annualreport during the week commencing on Monday 16 February 2015. The proposals for decisions and the other above-mentioned documents will also be available at the AGM. Copies of these documents and of this notice will be sent to shareholders upon request. The minutes of the AGM will be available on Stora Enso Oyj's website www.storaenso.com/agm from Wednesday 6 May 2015.
C. Instructions for the participants in the AGM
1. Shareholders registered in the shareholders' register
Each shareholder, who is registered on Friday 10 April 2015 in the shareholders' register of the company maintained by Euroclear Finland Oy, has the right to participate in the AGM. A shareholder, whose shares are registered on his/her personal Finnish book-entry account, is registered in the shareholders' register of the company.
A shareholder, who is registered in the company's shareholders' register and who wants to participate in the AGM, must register for the AGM no later than on Thursday 16 April 2015 at 12 noon Finnish time by giving a prior notice of participation. Such notice can be given:
|a) on the company's website:||www.storaenso.com/agm|
|b) by telephone:||+358 204 621 245|
|+358 204 621 210|
|c) by fax:||+358 204 621 359|
|d) by regular mail:|| Stora Enso Oyj, Legal Department, P.O. Box 309, |
When registering, a shareholder shall notify his/her name, personal identification number, address, telephone number and the name of any assistant or proxy representative and the personal identification number of any proxy representative. The personal data given to Stora Enso Oyj will be used only in connection with the AGM and with the processing of related registrations.
The shareholder or his/her authorised representative or proxy representative shall, if required, be able to prove his/her identity and/or right of representation.
2. Holders of nominee-registered shares
A holder of nominee-registered shares has the right to participate in the AGM by virtue of such shares, based on which he/she on the record date of the AGM, Friday 10 April 2015, would be entitled to be registered in the shareholders' register of the company held by Euroclear Finland Oy. The right to participate in the AGM requires, in addition, that the shareholder on the basis of such shares has been registered into the temporary shareholders' register held by Euroclear Finland Oy no later than on Friday 17 April 2015 by 10 a.m. Finnish time. As regards nominee-registered shares this constitutes due registration for the AGM.
A holder of nominee-registered shares is advised to request without delay necessary instructions regarding the registration in the temporary shareholders' register of the company, the issuing of proxy documents and registration for the AGM from his/her custodian bank. The account management organisation of the custodian bank will register a holder of nominee-registered shares, who wants to participate in the AGM, into the temporary shareholders' register of the company at the latest by the time stated above.
Further information on these matters can also be found on the company's website www.storaenso.com/agm.
3. Proxy representative and powers of attorney
A shareholder may participate in the AGM and exercise his/her rights at the AGM by way of proxy representation. A proxy representative shall produce a dated proxy document or otherwise in a reliable manner demonstrate his/her right to represent the shareholder at the AGM. If a shareholder participates in the AGM by means of several proxy representatives representing the shareholder with shares in different securities accounts, the shares in respect of which each proxy representative represents the shareholder shall be identified in connection with the registration for the AGM. Proxy templates are available on the company's website www.storaenso.com/agm.
Any proxy documents should be delivered in originals to Stora Enso Oyj, Legal Department, P.O. Box 309, FI-00101 Helsinki before the last date for registration. Alternatively, a copy of the proxy may be sent to firstname.lastname@example.org, in which case the original shall be presented at the meeting.
4. Shares registered in Euroclear Sweden AB
A shareholder with shares registered in Euroclear Sweden AB's Securities System who wishes to attend and vote at the AGM must:
| - be registered in the shareholders' register maintained by Euroclear Sweden AB no later than on 10 April 2015. |
Shareholders, whose shares are registered in the name of a nominee must, in order to be eligible to request a temporary registration in the shareholders' register of Stora Enso Oyj maintained by Euroclear Finland, request that their shares are re-registered in their own names in the register of shareholders maintained by Euroclear Sweden AB, and procure that the nominee sends the above-mentioned request for temporary registration to Euroclear Sweden AB on their behalf. Such re- registration must be made at the latest by 10 April 2015 and the nominee should therefore be notified well in advance before said date.
|- request temporary registration in the shareholders' register of Stora Enso Oyj maintained by Euroclear Finland Oy. Such request shall be submitted in writing to Euroclear Sweden AB no later than on 14 April 2015 at 10 a.m. Swedish time.|
This temporary registration made through written request to Euroclear Sweden AB is considered a notice of attendance at the AGM.
5. ADR holders
ADR holders intending to vote at the AGM shall notify the depositary bank, Deutsche Bank Trust Company Americas, of their intention and shall comply with the instructions provided by Deutsche Bank Trust Company Americas to each ADR holder.
6. Other information
Pursuant to Chapter 5, Section 25 of the Finnish Companies Act, a shareholder who is present at the AGM has the right to request information with respect to the matters to be considered at the AGM.
On the date of this notice to the AGM the total number of Stora Enso Oyj A shares is 177 030 904 conferring a total of 177 030 904 votes and the total number of R shares is 611 589 083, conferring a total of at least 61 158 908 votes. Each A share and each ten (10) R shares entitle the holder to one vote. Each shareholder shall, however, have at least one vote.
For further information, please contact:
Karl-Henrik Sundstrom, CEO, tel. +46 1046 71660
Seppo Parvi, CFO, tel.+358 2046 21205
Ulla Paajanen-Sainio, Head of Investor Relations, tel. +358 2046 21242
Stora Enso is the global rethinker of the paper, biomaterials, wood products and packaging industry. We always rethink the old and expand to the new to offer our customers innovative solutions based on renewable materials. Stora Enso employs some 29 000 people worldwide, and our sales in 2013 amounted to EUR 10.6 billion. Stora Enso shares are listed on NASDAQ OMX Helsinki (STEAV, STERV) and Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY) in the International OTCQX over-the-counter market.
STORA ENSO OYJ
Source:Stora Enso Oyj