General meeting 2017

General Meeting 2017

The Annual General Meeting of Bittium Corporation was held on Wednesday, April 12, 2017 at 1.00 p.m. at the address the University of Oulu, Saalastinsali, Pentti Kaiteran katu 1, 90590 Oulu, Finland.

Decisions of Bittium Corporation´s Annual General Meeting

The Annual General Meeting approved the annual accounts for the financial year 2016 and discharged the company’s management from liability.

The Annual General Meeting decided in accordance with the proposal of the Board of Directors to pay EUR 0.05 per share as dividend and EUR 0.25 per share as additional dividend based on the adopted balance sheet for the financial period January 1, 2016 – December 31, 2016. The dividend will be paid to the shareholders registered in the company’s register of shareholders maintained by Euroclear Finland Ltd on the dividend record date Tuesday, April 18, 2017. The dividend will be paid on Tuesday, April 25, 2017.

The Annual General Meeting decided that the Board of Directors shall comprise six (6) members.

Ms. Kirsi Komi, Mr. Seppo Mäkinen, Mr. Juha Putkiranta, Mr. Staffan Simberg and Mr. Erkki Veikkolainen were re-elected as members of the Board of Directors for a term of office expiring at the end of the next Annual General Meeting. Further, Mr. Tero Ojanperä was elected as a new member of the Board of Directors for a corresponding term of office.

At its assembly meeting held on April 12, 2017, the Board of Directors has elected Mr. Erkki Veikkolainen as the Chairman of the Board.

Further, the Board has resolved to keep the Audit Committee with Mr. Staffan Simberg (Chairman of the committee) and Ms. Kirsi Komi as committee members and authorized public accountant Mr. Seppo Laine was invited to the Audit committee as external advisor of the Board of Directors.

The following monthly remuneration shall be paid to the members of the Board of Directors: to the chairman of the Board of Directors EUR 3,500 and to the other members of the Board of Directors EUR 2,000 each. In addition, the members of the Board of Directors are entitled to compensation for attending Board Committee meetings as follows: the chairman of the Committee EUR 600 for each meeting and other Committee members EUR 400 for each meeting. Travel expenses of the members of the Board of Directors shall be reimbursed in accordance with the Company’s travel policy. 40 per cent of the total amount of the monthly remuneration will be paid at once as Bittium Corporation’s shares acquired for the price formed in public trading, and the shares will be acquired according to the share purchase program of the company.

Ernst & Young Oy, authorized public accountants, was re-elected auditor of the Company for a term of office ending at the end of the next Annual General Meeting. Ernst & Young Oy has notified that Mr. Juhani Rönkkö, authorized public accountant, will act as responsible auditor. It was decided that the remuneration to the auditor shall be paid against the auditor’s reasonable invoice.

The General Meeting authorized the Board of Directors to decide on the repurchase of the Company’s own shares.

The General meeting authorized the Board of Directors to decide on the issuance of shares and special rights entitling to shares.