Citycon Oyj's Annual General Meeting (AGM) took place in Helsinki,
Finland, today. The AGM adopted the consolidated financial statements
and the parent company's financial statements for the financial year
2007 and discharged the members of the Board of Directors and the
Chief Executive Officer from liability. The AGM decided on a dividend
of EUR 0.04 per share for the financial year 2007 and, in addition,
on equity return of EUR 0.10 per share from the invested unrestricted
equity fund. Record date for the dividend payment and equity return
is 18 March 2008 and the dividend and equity return will be paid on 2
April 2008. Mr Amir Bernstein and Mr Per-Håkan Westin were elected as
new Board members. In addition, the AGM approved the Board of
Directors' proposal to amend the terms and conditions of the
company's stock option plan 2004.
Board members and their remuneration
The number of Board members remained at eight with Gideon Bolotowsky,
Raimo Korpinen, Tuomo Lähdesmäki, Claes Ottosson, Dor J. Segal and
Thomas W. Wernink being re-elected to the Board for a one-year term.
Mr Per-Håkan Westin, M.Sc. (Eng.), born 1946, and Mr Amir Bernstein,
LL.M., born 1969, were elected as new members to the Board.
The AGM decided that the Chairman of the Board of Directors be paid
an annual fee of EUR 160,000, the Deputy Chairman EUR 60,000 and
ordinary members of the Board EUR 40,000. In addition, the AGM
decided that the Chairman of the Board and the Chairmen of the
Board's committees be paid a meeting fee of EUR 700 and the other
Board and committee members EUR 500 per meeting.
Ernst & Young Oy, a firm of authorised public accountants, continues
as the auditor of the company with Authorised Public Accountant Tuija
Korpelainen as the chief auditor.
Proposal by the Board of Directors to amend the terms and conditions
of the option plan 2004
As proposed by the Board of Directors, the AGM decided to amend the
terms and conditions of the stock option plan 2004 as follows:
From the share subscription prices of stock options 2004 A/B/C shall,
as per each record date for dividend payment and/or equity return, be
deducted half of the amount of dividends and half of the amounts
returned from the invested unrestricted equity fund. The deductions
shall be undertaken after the commencement of the period for
determination of the share subscription price but before share
Following this decision, the subscription prices of the 2004 option
rights as of 18 March 2008 will be as follows: Subscription price
with the 2004 A options EUR 2.2732 per share, with B options EUR
2.6608 per share and with C options EUR 4.3613 per share.
Helsinki, 13 March 2008
For further information, please contact:
Petri Olkinuora, CEO, tel. +358 9 6803 6738 or
mobile +358 400 333 256
Eero Sihvonen, CFO, mobile +358 50 557 9137
OMX Nordic Exchange Helsinki