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STORA ENSO OYJ STOCK EXCHANGE RELEASE 24 April 2012 at
19.30 EET
Stora Enso's Annual General Meeting (AGM) on 24 April 2012
adopted the accounts
for 2011 and granted the Company's Board of Directors and
Chief Executive
Officer discharge from responsibility for the period.
Resolution on the use of the profit shown on the balance
sheet and the payment
of dividend
The AGM approved the proposal by the Board of Directors
that the Company
distributes a dividend of EUR 0.30 per share for the year
2011.
The dividend shall be paid to shareholders that on the
dividend record date, 27
April 2012, are recorded in the shareholders' register
maintained by Euroclear
Finland Ltd. or in the separate register of shareholders
maintained by
Euroclear Sweden AB for Euroclear Sweden registered shares.
Dividends payable
for Euroclear Sweden registered shares will be forwarded by
Euroclear Sweden AB
and paid in Swedish krona. Dividends payable to ADR holders
will be forwarded
by Deutsche Bank Trust Company Americas and paid in US
dollars.
The AGM approved a proposal by the Board of Directors that
the dividend payment
shall be issued by the Company on 16 May 2012.
Members of the Board of Directors
The AGM approved a proposal that the Board of Directors
shall have eight
members and that of the current members of the Board of
Directors, Gunnar
Brock, Birgitta Kantola, Mikael Mäkinen, Juha Rantanen,
Hans Stråberg, Matti
Vuoria and Marcus Wallenberg shall be re-elected members of
the Board of
Directors until the end of the following AGM and that Hock
Goh be elected new
member of the Board of Directors for the same term of
office.
Remuneration
The AGM approved the proposed annual remuneration for the
Board of Directors as
follows:
Chairman EUR 170 000
Vice Chairman EUR 100 000
Members EUR 70 000
The AGM also approved a proposal that 40% of the
remuneration shall be paid in
Stora Enso Series R shares purchased from the market.
The AGM approved the proposed annual remuneration for the
Board committees as
follows:
Financial and Audit Committee
Chairman EUR 20 000
Members EUR 14 000
Remuneration Committee
Chairman EUR 10 000
Members EUR 6 000
Auditor
The AGM approved a proposal that the current auditor
Authorised Public
Accountants Deloitte & Touche Oy shall be re-elected
auditor of the Company
until the end of the following AGM. The AGM approved a
proposal that
remuneration for the auditor shall be paid according to
invoice approved by
Financial and Audit Committee.
Appointment of the Nomination Board
The AGM approved a proposal to appoint a Nomination Board
to prepare proposals
concerning
(a) the number of members of the Board of Directors,
(b) the members of the Board of Directors,
(c) the remuneration for the Chairman, Vice Chairman and
members of the Board
of Directors and
(d) the remuneration for the Chairman and members of the
committees of the
Board of Directors.
The Nomination Board shall consist of four members:
- the Chairman of the Board of Directors
- the Vice Chairman of the Board of Directors
- two other members appointed by the two largest
shareholders (one each) as of
30 September 2012.
The largest shareholders are determined on the basis of
their shareholdings
registered in the Company's shareholders' register. In
addition, shareholders
who under the Finnish Securities Markets Act have an
obligation to disclose
certain changes in ownership (shareholder subject to
disclosure notification)
will be taken into account provided that they notify their
shareholdings to the
Board of Directors in writing by 30 September 2012. A
shareholder may change
its representative appointed to the Nomination Board for
weighty reasons.
The Chairman of the Board of Directors shall convene the
Nomination Board and
the Nomination Board shall at the latest on 31 January 2013
present its
proposals to the Board of Directors for the AGM to be held
in 2013. A member of
the Board of Directors may not be appointed as Chairman of
the Nomination
Board. Annual remuneration of EUR 3 000 shall be paid to a
member of the
Nomination Board who is not a member of the Board of
Directors.
Decisions by the Board of Directors
At its meeting held after the AGM, the Stora Enso Board of
Directors re-elected
from among its members Gunnar Brock as its Chairman and
Juha Rantanen as Vice
Chairman.
Birgitta Kantola (chairwoman), Gunnar Brock and Juha
Rantanen were re-elected
as members of the Financial and Audit Committee.
Gunnar Brock (chairman), Hans Stråberg and Matti Vuoria
were re-elected as
members of the Remuneration Committee.
For further information, please contact:
Ulla Paajanen-Sainio, SVP, Investor Relations, tel. +358
2046 21242
www.storaenso.com
www.storaenso.com/investors
Stora Enso is the global rethinker of the paper,
biomaterials, wood products
and packaging industry. We always rethink the old and
expand to the new to
offer our customers innovative solutions based on renewable
materials. Stora
Enso employs some 30 000 people worldwide, and our sales in
2011 amounted to
EUR 11.0 billion. Stora Enso shares are listed on NASDAQ
OMX Helsinki (STEAV,
STERV) and Stockholm (STE A, STE R). In addition, the
shares are traded in the
USA as ADRs (SEOAY) in the International OTCQX
over-the-counter market.
STORA ENSO OYJ
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