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Okmetic Oyj (HEL:OKM1V) The extraordinary general meeting of Okmetic Oyj held on 6 November 2008 decided that the number of members on the company's board of directors would be increased to six. Henri Österlund, Managing Director of Accendo Capital Partners Oy, was appointed as a new member of the board. The general meeting accepted the board of directors' proposal regarding the board's authorisation to repurchase or transfer rights to the company's own shares.
1. Members of the board of directors
The number of members on the company's board of directors was set at six. Henri Österlund, M.Sc. (Economics and Business Administration) was appointed as a new member of the board. He is the Managing Director of Accendo Capital Partners Oy. The new board member will be entitled to remuneration proportional to the length of his term of office, calculated on the basis of the 17,400 euro which is payable for a full term of office as per the decision of the annual general meeting of 3 April 2008.
Okmetic's board of directors now comprises Mikko J. Aro as chairman, Karri Kaitue as deputy chairman, and Tapani Järvinen, Jarmo Niemi, Pekka Salmi and Henri Österlund as members.
2. The board of directors' authorisation to decide on repurchasing the company's own shares
The general meeting accepted the board of directors' proposal regarding the board's authorisation to decide on repurchasing the company's own shares as follows:
The aggregate number of shares repurchased on the basis of the authorisation cannot exceed 1,688,750 shares, which represents 10 percent of all the shares of the company. The company and its subsidiaries together cannot at any time own more than 10 percent of all of the company's registered shares.
Only unrestricted shareholders' equity can be used to repurchase the company's own shares under the authorisation. Own shares can be repurchased at a price determined by public trading on the day of repurchase or at another market-based price.
The board of directors can decide the method of repurchasing the company's own shares as well as the other terms and conditions. Derivatives, for example, can be used in the repurchase. Shares can be repurchased independently of the shareholders' proportional share holdings (directed repurchase). The authorisation remains in force until the annual general meeting of spring 2010, however, until no later than 6 May 2010.
3. The board of directors' authorisation to decide on transferring rights to the company's own shares
The general meeting accepted the board of directors' proposal regarding the board's authorisation to decide on transferring rights to the company's own shares as follows:
The aggregate number of rights transferred on the basis of the authorisation cannot exceed 1,688,750 shares, which represents 10 percent of all the shares of the company.
The board of directors was authorised to decide on all the terms and conditions of share issues. The authorisation will be limited to transferring rights to the company's own shares as held by the company. The share issue can be carried out as a directed issue. The board of directors may also decide to cancel the repurchased shares. The authorisation will be effective until further notice, however, until no later than 30 June 2013. Moreover, the authorisation cannot override the authorisation granted at the annual general meeting of 3 April 2008 regarding share issues.
OKMETIC OYJ
Antti Rasilo President For further information, please contact:
President Antti Rasilo, Okmetic Oyj, tel. +358 9 5028 0232, email: antti.rasilo@okmetic.com
NASDAQ OMX Helsinki Principal media www.okmetic.com
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Okmetic is a technology company which supplies tailor-made silicon wafers for sensor and semiconductor industries and sells its technological expertise. Okmetic provides its customers with solutions that boost their competitiveness and profitability.
Okmetic's silicon wafers are part of a further processing chain that produces end products that improve human interaction and quality of life. Okmetic's products are based on high-tech expertise that generates added value for customers, innovative product development and an extremely efficient production process.
Okmetic has a global customer base and sales network, production plants in Finland and the US and contract manufacturers in Japan and China.
Okmetic's shares are listed on NASDAQ OMX Helsinki under the code OKM1V. For more information on the company, please visit our website at www.okmetic.com
This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
