VAASA, Finland, March 26, 2008 (PRIME NEWSWIRE) -- Vacon Plc's Annual General Meeting of Shareholders was held on 26 March 2008 in Vaasa. The Annual General Meeting of Shareholders approved the company's financial statement for the fiscal year 2007 and discharged the members of the Board of Directors and the Managing Director from liability for the fiscal year 2007. The Annual General Meeting of Shareholders adopted the proposal of the Board of Directors that a dividend of EUR 0.75 will be paid on each share. The Annual General Meeting of Shareholders adopted the proposal of the Board of Directors to authorize the Board of Directors to resolve to repurchase shares in the company.
The financial statement of Vacon Plc for the fiscal year 2007 was approved.
The Annual General Meeting of Shareholders adopted the proposal by the Board of Directors to pay a dividend of EUR 0.75 on each share, or EUR 11,424,141 in total. The record day for the dividend payment is 31 March 2008. The dividend will be paid on 7 April 2008.
The Annual General Meeting of Shareholders discharged the members of the Board of Directors and the Managing Director from liability for the fiscal year 2007. The number of members of the Board of Directors was confirmed to be seven (7). Pekka Ahlqvist, Jari Eklund, Kalle Heikkinen, Mauri Holma, Jan Inborr and Veijo Karppinen were re-elected as members of the Board of Directors and professor, PhD. (Econ.) Riitta Viitala elected as new member of the Board of Directors. Jan Inborr was re-elected Chairman and Veijo Karppinen was re-elected Vice Chairman of the Board of Directors at the constitutory meeting of the Board of Directors.
The Annual General Meeting of Shareholders resolved to pay the members of the Board of Directors a basic fee of EUR 1,250 a month and an additional fee of maximum EUR 2,500 a month. It was resolved that the Chairman of the Board of Directors shall be paid twice the basic fee and twice the additional fee paid to the members of the Board of Directors.
KPMG Oy Ab was re-elected as the company's auditor.
The Annual General Meeting of Shareholders adopted the proposal of the Board of Directors to authorize the Board of Directors to resolve to repurchase shares in the company. The proposal of the Board of Directors was reported in the stock exchange release of 29 February 2008.
All decisions adopted at the Annual General Meeting of Shareholders were made unanimously.
Vacon Plc
Board of Directors