Resolutions by Uponor Corporation’s Annual General Meeting

Uponor Corporation       Stock exchange release       18 March 2013  18.01 EET

Resolutions by Uponor Corporation’s Annual General Meeting

Uponor Corporation’s Annual General Meeting approved the proposed dividend of €0.38 per share for 2012. The existing Board members were re-elected, with the exception of Anne-Christine Silfverstolpe Nordin, who was succeeded by Timo Ihamuotila as a new member. The AGM approved all Board proposals, including the authorisation to repurchase own shares. The proposals can be viewed in detail at www.uponor.com > Investors.

The AGM adopted the financial statements and the consolidated financial statements for 2012, and released the Board members and the managing director from liability.

The Chairman of the Board, Jari Paasikivi stated that the Board would not consider initiating a share buyback at this stage.

The dividend will be paid out on 28 March 2013, the record date being 21 March 2013.

Held in Helsinki, Finland, the AGM was chaired by Mikko Heinonen, Attorney-at-Law.

Authorisation to repurchase the company’s own shares

The Board of Directors was authorised to buy back a maximum of 3.5 million of the company’s own shares, which equals 4.8 per cent of the total number of shares of the company. These shares will be bought back using distributable earnings from unrestricted equity. The authorisation is valid until the end of the next annual general meeting and for no longer than 18 months.

Election of Directors and the Auditor

Existing Board members Jorma Eloranta, Eva Nygren, Jari Paasikivi, Jari Rosendal and Rainer S. Simon were re-elected. Mr Timo Ihamuotila (b. 1966) was elected as a new member. Ihamuotila acts as CFO of the listed company Nokia Corporation.

Deloitte and Touche Oy, authorised public accountants, was re-elected as the auditor of the corporation.

Board remuneration

There were no changes to the Board’s annual remuneration and the following annual fees were agreed: €71,000 for the Chairman, €49,000 for the Deputy Chairman, and €44,000 for ordinary members. Approximately 40% shall be paid in Uponor Corporation shares, bought through public trading, and the rest in cash. Additionally, a separate fee is paid to Board members for all board and committee meetings.

Further information: 
Reetta Härkki, General Counsel, Tel. +358 20 129 2835

 

Uponor Corporation

Tarmo Anttila
Vice President, Communications
Tel. +358 20 129 2852

 

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Uponor is a leading international provider of plumbing and indoor climate solutions for residential and commercial building markets across Europe and North America. In Northern Europe, Uponor is also a prominent supplier of infrastructure pipe systems. The Group employs approx. 3,000 persons, in 30 countries. In 2012, Uponor's net sales exceeded €810 million. Uponor Corporation is listed on NASDAQ OMX Helsinki in Finland. http://www.uponor.com.