CITYCON OYJ'S ANNUAL GENERAL MEETING

CITYCON OYJ STOCK EXCHANGE BULLETIN 20 MARCH 2003 at 12 noon CITYCON OYJ'S ANNUAL GENERAL MEETING Citycon Oyj's Annual General Meeting took place in Helsinki on 20 March 2003. The Meeting adopted the parent company's and the consolidated financial statements for 2002 and discharged the members of the Board of Directors and the Chief Executive Officer from liability. In accordance with the proposal of the Board of Directors, the Meeting decided to approve a dividend payment of EUR 0.09 for the financial year ended 31 December 2002 on all shares outside the Company's ownership. The record date for the distribution of dividend is 25 March 2003 and the dividend will be paid on 1 April 2003. The Annual General Meeting decided to re-appoint the current members of the Board of Directors - Stig-Erik Bergström, Heikki Hyppönen, Juhani Järvi, Jorma Lehtonen, Carl G. Nordman and Juha Olkinuora - for a further term of office. Authorised public accountants Ari Ahti and Jaakko Nyman, with authorised public accountants KPMG Wideri Oy Ab as deputy auditor were re-appointed as the company's auditors for a further term of office. The Meeting decided that the Chairman of the Board of Directors be paid an annual fee of EUR 18,000 and a fee of EUR 420 for each meeting, that the Deputy Chairman be paid an annual fee of EUR 14,400 and a fee of EUR 350 for each meeting and that ordinary members of the Board of Directors be paid an annual fee of EUR 12,000 and a fee of EUR 350 for each meeting. Payment of the annual fee is conditional on members of the Board of Directors signing an undertaking to use the net part of the fee to acquire Company's shares. The Annual General Meeting authorised the Board of Directors to decide within one year of the Meeting whether to increase the Company's share capital by a maximum of EUR 28,464,893.10 through one or more new issues offering a maximum aggregate of 21,085,106 new shares having a nominal value of EUR 1.35. The authorisation includes the right to disapply the pre-emption rights of existing shareholders. The Annual General Meeting authorised the Board of Directors to decide within one year of the Meeting on the acquisition of the Company's own shares provided that the aggregate nominal value of the shares owned by the Company, including those already acquired, does not exceed five per cent (5 %) of the Company's share capital and votes after the acquisition. Pursuant to this authorisation the Company may acquire a maximum of 1,414,892 of its own shares. The Company's own shares may be acquired for use as consideration in any acquisitions of property, shares or any other assets important to the Company's business. The Annual General Meeting authorised the Board of Directors to decide within one year of the Meeting on the conveyance of the Company's own shares purchased by virtue of the authorisation given to the Board of Directors and of all own shares otherwise owned by the Company for use, for example, as consideration in any acquisitions of property, shares or other assets important to the Company's business. The Board of Directors' proposals approved by the Annual General Meeting appear in full in the Stock Exchange bulletin of 27 February 2003. CITYCON OYJ Petri Olkinuora CEO Further information is available from: Mr Petri Olkinuora, CEO, on +358 400 333 256 Distribution: Helsinki Exchanges and main media

Subscribe

Order our releases to your email

Stock Exchange and Corporate Press Releases:
Press Releases by Region, in local language (*):

You will automatically receive our releases to your email as they are published. You can unsubscribe at any time. By subscribing you agree to our Privacy Policy