STOCK EXCHANGE RELEASE 10 Feb 2016
Pöyry PLC: Notice to Pöyry PLC's Annual General Meeting
PÖYRY PLC Company Announcement 10 February 2016 at 8.45 a.m.
Notice to Pöyry PLC's Annual General Meeting
Notice is given to the shareholders of Pöyry PLC to the Annual General Meeting to be held on Thursday, 10 March 2016 at 4.00 p.m. at the Helsinki Hall of the Finlandia Hall, Mannerheimintie 13 e, 00100 Helsinki, Finland (entrances M3 and K3). The reception of persons who have registered for the meeting and the distribution of voting tickets will commence at 3.00 p.m.
A. Matters on the agenda of the Annual General Meeting
At the Annual General Meeting, the following matters will be considered:
1. Opening of the meeting
2. Calling the meeting to order
3. Election of persons to scrutinise the minutes and to supervise the counting of votes
4. Recording the legality of the meeting
5. Recording the attendance at the meeting and adoption of the list of votes
6. Presentation of the annual accounts, the report of the Board of Directors and the auditor's report for the year 2015
Review by the President and CEO
7. Adoption of the annual accounts
8. Resolution on the use of the profit shown on the balance sheet and the payment of dividend
The Board of Directors proposes to the Annual General Meeting that no dividend be distributed for the financial year 2015.
9. Resolution on the discharge of the members of the Board of Directors and the President and CEO from liability
10. Resolution on the remuneration of the members of the Board of Directors
The Nomination and Compensation Committee of the Board of Directors proposes that the annual fees for the members of the Board of Directors for the term until the close of the following Annual General Meeting be 45 000 euros for a member, 55 000 euros for the Vice Chairman and 65 000 euros for the Chairman of the Board of Directors, and the annual fee for the members of the committees of the Board of Directors be 15 000 euros. In addition, the Committee proposes that the Annual General Meeting authorise the Board of Directors to resolve on an additional fee of not more than 15 000 euros per annum for each of the foreign residents of the Board of Directors as well as on an additional fee of not more than 5 000 euros per annum for the foreign residents of the committees of the Board of Directors. The authorisation shall be in force until the following Annual General Meeting. Travel expenses are proposed to be compensated according to the Company's Travel Policy.
11. Resolution on the number of members of the Board of Directors
The Nomination and Compensation Committee of the Board of Directors proposes to the Annual General Meeting that the number of members of the Board of Directors be six (6).
12. Election of members of the Board of Directors
The Nomination and Compensation Committee of the Board of Directors proposes to the Annual General Meeting that the present Board members Pekka Ala-Pietilä, Henrik Ehrnrooth, Alexis Fries and Teuvo Salminen be re-elected for the term until the close of the following Annual General Meeting. The Committee further proposes that Helene Biström and Michael Rosenlew be elected as new members of the Board of Directors for the same term. The above mentioned persons have given their consent to the election. Georg Ehrnrooth, Heikki Lehtonen, Michael Obermayer and Karen de Segundo have informed that they will not be available for re-election. The biographical details of the Board of Directors nominees are available on the company's website at www.poyry.com/agm2016.
Helene Biström (born 1962) is a Swedish citizen and holds M.Sc. (Mechanical engineering) degree. She worked as Managing Director of Norrenergi AB during 2011 to 2014 and prior to this she held various executive positions in Vattenfall AB, latest as Vice CEO, member of Executive Group Management and Head of Business Group Pan Europe. Helene Biström is the Chairman of the Board of Directors of Cramo Plc and Sveaskog AB and a Vice Chairman of the Board of Directors of KTH Royal Institute of Technology.
Michael Rosenlew (born 1959) is a Finnish citizen and holds M.Sc. (Economics) degree. He has worked as Managing Director and partner in various investment companies, most recently as the Managing Director of Mikaros AB during 2011 to 2014. Michael Rosenlew is the Vice Chairman and Chairman of the Audit Committee of Caverion Plc and a member of Board of Directors of Hartwall Capital Oy Ab.
13. Resolution on the remuneration of the auditor
The Audit Committee of the Board of Directors proposes to the Annual General Meeting that the auditor be reimbursed according to the auditor's invoice approved by the Company and in compliance with the purchase policy approved by the Audit Committee.
14. Election of auditor
According to the Articles of Association of the Company, the Company's auditor has been elected until further notice. Thus, PricewaterhouseCoopers Oy continues as the Company's auditor and Ms. Merja Lindh as the responsible auditor.
15. Proposal by the Board of Directors to authorise the Board of Directors to decide on the issuance of shares and special rights entitling to shares
The Board of Directors proposes that the Annual General Meeting authorise the Board of Directors to decide to issue new shares and to convey the Company's own shares held by the Company in one or more tranches. The share issue can be carried out as a share issue against payment or without consideration on terms to be determined by the Board of Directors and in relation to a share issue against payment at a price to be determined by the Board of Directors.
The authorisation also includes the right to issue special rights, in the meaning of Chapter 10 Section 1 of the Companies Act, which entitle to the Company's new shares or the Company's own shares held by the Company against consideration.
A maximum of 11 800 000 new shares can be issued. A maximum of 5 900 000 own shares held by the Company can be conveyed.
Based on this authorisation, the Board shall have the authority to decide on a share issue and issue of special rights in deviation of the pre-emptive subscription right of the shareholders (directed issue) subject to the conditions mentioned in the Companies Act. The authorisation can be used e.g. in order to strengthen the Company's capital structure, to broaden the Company's ownership, to be used as payment in corporate acquisitions or when the Company acquires assets relating to its business and as part of the Company's incentive programmes.
In addition the authorisation includes the right to decide on a share issue without consideration to the Company itself so that the amount of own shares held by the Company after the share issue is a maximum of one tenth (1/10) of all shares in the Company. Pursuant to Chapter 15 Section 11 Subsection 1 of the Companies Act, all own shares held by the Company and its subsidiaries are included in this amount.
The Board of Directors is authorised to resolve on all other terms and conditions regarding the issuance of shares and special rights entitling to shares.
It is proposed that the authorisation shall be effective for a period of 18 months from the decision of the Annual General Meeting. The authorisation granted to the Board of Directors regarding issuing shares in the previous Annual General Meeting shall expire simultaneously.
16. Closing of the meeting
B. Meeting documents of the Annual General Meeting
This notice as well as more detailed information on the proposal of the Board of Directors mentioned above under point 15 relating to the agenda of the Annual General Meeting is available on Pöyry PLC's website at www.poyry.com/agm2016. The Financial Statements 2015 of Pöyry PLC, which include the annual accounts and consolidated annual accounts in their entirety and the report of the Board of Directors and the auditor's report, is available on the above mentioned website no later than 18 February 2016. The proposal of the Board of Directors and the annual accounts are also available at the Annual General Meeting. Copies of these documents and of this notice will be sent to shareholders upon request. The minutes of the Annual General Meeting will be available on the above-mentioned website as of 24 March 2016.
C. Instructions for the participants in the Annual General Meeting
1. The right to participate and registration
Each shareholder who on the record date of the Annual General Meeting 29 February 2016 is registered in the shareholder register of the Company held by Euroclear Finland Ltd., has the right to participate in the Annual General Meeting. Shareholders whose shares are registered on his/her personal book-entry account are registered in the shareholder register of the Company. Shareholders wanting to participate in the Annual General Meeting must register for the meeting no later than Monday 7 March 2016 at 10.00 a.m. Finnish time by giving a prior notice of participation. Such notice can be given:
by filling in the registration form on the Pöyry PLC website at www.poyry.com/agm2016;
by telephone +358 10 33 21455 (Katriina Anttinen) Monday through Friday between 9 a.m. and 4 p.m. Finnish time;
by telefax +358 10 33 21816; or
by letter to Pöyry PLC, Legal Department/AGM, Jaakonkatu 3, FI-01620 Vantaa, Finland.
In connection with the registration, shareholders shall notify his/her name, personal identification number or date of birth, telephone number and the name of a possible assistant or proxy representative and the personal identification number or date of birth of the proxy representative. Shareholders, their representatives, or proxy representatives present at the meeting should, where required, be able to prove their identity and/or authorisation to represent a shareholder. The personal data given to Pöyry PLC is used only in connection with the Annual General Meeting and with the processing of related registrations.
2. Proxy representative and powers of attorney
A shareholder may participate in the Annual General Meeting and exercise his/her rights at the meeting by way of proxy representation.
A proxy representative shall produce a dated proxy document or otherwise demonstrate in a reliable manner his/her right to represent the shareholder at the Annual General Meeting. When a shareholder participates in the Annual General Meeting by means of several proxy representatives representing the shareholder with shares on different securities accounts, the shares by which each proxy representative represents the shareholder shall be identified in connection with the registration for the Annual General Meeting.
Any proxy documents are requested to be delivered in originals to the Company before the last date for registration.
3. Holders of nominee registered shares
If a holder of nominee registered shares is entitled to be recorded in the Company's shareholder register on the record date of the Annual General Meeting 29 February 2016, the shareholder may in accordance with the instructions of his/her custodian bank request that he/she is notified for temporary registration in the shareholder register of the Company for participation in the Annual General Meeting at the latest on 7 March 2016 at 10.00 a.m. Finnish time. A holder of nominee registered shares is considered to be registered for the Annual General Meeting, when he/she is notified for temporary registration in the shareholder register as described above. A holder of nominee registered shares is advised to request necessary instructions regarding the temporary registration in the shareholder register of the Company, the issuing of proxy documents and registration for the Annual General Meeting from his/her custodian bank sufficiently in advance.
4. Other instructions and information
The Annual General Meeting will be conducted in Finnish and it is translated into English. The President and CEO's presentation will be presented in English and will be translated into Finnish.
Pursuant to Chapter 5, Section 25 of the Companies Act, a shareholder who is present at the Annual General Meeting has the right to request information with respect to the matters to be considered at the meeting.
On the date of this notice to the Annual General Meeting 10 February 2016, the total number of shares in Pöyry PLC is 59 759 610 shares and the total number of votes is 59 340 555 votes.
Vantaa, 10 February 2016
THE BOARD OF DIRECTORS
Anne Viitala, Executive Vice President, Legal and Communications
Tel. +358 10 33 22811
Pöyry is an international consulting and engineering company. We serve clients globally across the energy and industrial sectors and provide local services in our core markets. We deliver management consulting and engineering services, underpinned by strong project implementation capability and expertise. Our focus sectors are power generation, transmission & distribution, forest industry, chemicals & biorefining, mining & metals, transportation and water. Pöyry has an extensive local office network employing about 6,000 experts. Pöyry's net sales in 2014 were EUR 571 million and the company's shares are quoted on Nasdaq Helsinki (Pöyry PLC: POY1V).