Resolutions of Citycon Oyj's Annual General Meeting

CITYCON OYJ Stock Exchange Release 23 March 2011 at 15.15 hrs

Citycon Oyj’s Annual General Meeting (AGM) took place in Helsinki, Finland, today. The AGM adopted the company’s financial statements and discharged the members of the Board of Directors and the Chief Executive Officer from liability for the financial year 2010. The AGM decided on a dividend of EUR 0.04 per share for the financial year 2010 and, in addition, on an equity return of EUR 0.10 per share from the invested unrestricted equity fund. Record date for the dividend payment and equity return is 28 March 2011 and the dividend and equity return will be paid on 8 April 2011. In addition, the AGM authorised the Board of Directors to decide on the acquisition of the company’s own shares. 

Members of the Board of Directors and Their Remuneration

The number of members of the Board of Directors was resolved at ten and Ronen Ashkenazi, Chaim Katzman, Claes Ottosson, Dor J. Segal, Thomas W. Wernink, Per-Håkan Westin and Ariella Zochovitzky were re-elected to the Board for a one-year term. Roger Kempe, Kirsi Komi and Jorma Sonninen were elected as new members to the Board. The Directors’ personal details are available on the corporate website at www.citycon.com/board

The AGM decided that the remuneration of the members of the Board of Directors remain unchanged and that the Chairman of the Board of Directors be paid an annual fee of EUR 160,000, the Deputy Chairmen 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 ordinary Board and committee members EUR 500 per meeting. It was further decided that members of the Board of Directors not residing in the Helsinki Metropolitan Area be compensated accrued travel and lodging expenses as well as other potential costs related to Board work. 

Auditor 

Ernst & Young Oy, a firm of authorised public accountants, continues as the auditor of the company with Authorised Public Accountant Tuija Korpelainen continuing as the chief auditor. 

Authorising the Board of Directors to Decide on the Acquisition of the Company’s Own Shares 

As proposed by the Board of Directors, the AGM authorised the Board of Directors to decide on the acquisition of a maximum of 20,000,000 of the company’s own shares through public trading on the NASDAQ OMX Helsinki Ltd at the market price prevailing at the time of the acquisition by using unrestricted equity. The shares can be acquired to improve the company’s capital structure or to be used in financing or implementation of potential acquisitions or other corporate transactions or as part of the company’s incentive plan. The company may hold, convey or cancel the shares for said purposes. The Board of Directors was authorised to decide on other terms and conditions related to the acquisition of own shares. The authorisation will be valid until the next Annual General Meeting. 

Helsinki, 23 March 2011 

CITYCON OYJ
Petri Olkinuora
CEO 

For further information, please contact:
Petri Olkinuora, CEO
Tel. +358 20 766 4401 or mobile +358 400 333 256
petri.olkinuora@citycon.fi

Distribution:
NASDAQ OMX Helsinki
Major media
www.citycon.com

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