General Meeting of Shareholders

The General Meeting of Shareholders is the ultimate decision-making authority of the Company, in accordance with the Finnish Companies Act.

The General Meeting of Shareholders is the ultimate decision-making authority of the Company, in accordance with the Finnish Companies Act. Its tasks and procedures are defined in the Finnish Companies Act and the Company’s Articles of Association. The Annual General Meeting is convened by the Board annually within six (6) months from the end of the previous financial year. An Extraordinary Meeting of Shareholders may be convened if the Board deems it necessary, or if one is legally required.

The General Meeting of Shareholders decides on changes to the Articles of Association and in the share capital, as well as on the distribution of profits, adopts the financial statements and discharges the members of the Board and the CEO from liability. It elects the Chairman, Vice Chairman and other members of the Board, as well as decides on their remuneration. The Annual General Meeting also elects the auditor of the Company.

In addition, a shareholder may request that his/her proposal be handled at the next General Meeting of Shareholders. Such a request shall be made in writing to the Company’s Board at the latest on the date specified by the Company on its website. The request is always deemed to be on time, if the Board has been notified of the request no later than four (4) weeks before the delivery of the notice of the General Meeting of Shareholders.

According to the Company’s Articles of Association, General Meetings shall be convened by publishing a notice to the meeting on the Company’s website not more than three (3) months and not less than three (3) weeks before the date of the General Meeting, however, at least nine (9) days before the record date of the general meeting of shareholders as provided by the Finnish Companies Act.

In addition, Altia publishes the invitation to the meeting by means of a stock exchange release immediately after the Board has decided to convene a General Meeting of Shareholders. All of Altia’s shareholders have the right to attend General Meetings of Shareholders, as long as they follow the instructions given in the notice. Shareholders may either attend in person or authorise a representative to represent them. Each share carries one vote at a General Meeting of Shareholders.

The agenda for the meeting and the proposed decisions and other documents to be submitted to the General Meeting of Shareholders (e.g. financial statements, Board’s report, auditor’s report) are made available on the Company’s website at least three (3) weeks before the General Meeting of Shareholders. As a rule, the members of the Board (and candidates) and the CEO must attend General Meetings of Shareholders. Further, the Company’s auditor must attend each Annual General Meeting.

The minutes of the General Meeting of Shareholders are published on the Company’s website within two (2) weeks after the General Meeting of Shareholders. In addition, the decisions of the General Meeting of Shareholders are also published by means of a stock exchange release immediately after the General Meeting of Shareholders. The documents related to the General Meeting of Shareholders shall be kept on the Company’s website for a period of no less than five years from the General Meeting of Shareholders in question.

 

Read more in Altia's Articles of Association