Decisions taken by Alma Media's Annual General Meeting and the Board of Directors
Alma Media Corporation Stock Exchange Release 12 March 2008 at 15:45
DECISIONS TAKEN BY ALMA MEDIA'S ANNUAL GENERAL MEETING AND THE BOARD OF DIRECTORS
The Annual General Meeting (AGM) of Alma Media Corporation was held today in Helsinki, Finland. The AGM decided on the matters stipulated in Article 10 of the Articles of Association.
Composition of the Board of Directors
The AGM confirmed the number of Board members at seven. The current members of the Board of Directors, Lauri Helve, Matti Kavetvuo, Kai Seikku, Kari Stadigh, Harri Suutari and Ahti Vilppula were re-elected and Erkki Solja, M. Sc. (Econ.), was elected as a new member. The term of the Board of Directors will expire at the close of the next Annual General Meeting. These decisions were in accordance with the proposal made by the Nomination and Remuneration Committee of the Board of Directors.
Remuneration of the Board of Directors
In accordance with the proposal of the Nomination and Remuneration Committee, the AGM decided that the chairman of the Board be paid an annual fee of EUR 30,000, the vice chairman EUR 24,000 and ordinary members EUR 20,000. In addition, the chairman will be paid a fee of EUR 1000, the vice chairman EUR 700 and ordinary members EUR 500 for each Board and committee meeting they attend.
Remuneration and election of the auditor
Ernst & Young Oy was re-elected as Alma Media's auditor. The auditor's remuneration will be paid according to invoicing.
The AGM resolved to distribute a dividend of EUR 0.90 per share for the fiscal year 2007 in accordance with the proposal of the Board of Directors. The dividend will be paid to shareholders who are registered as shareholders on the record date, 17 March 2008, in Alma Media Corporation's shareholder register maintained by the Finnish Central Securities Depository. The dividend payment date is 27 March 2008.
Decisions taken by the Board of Directors
After the AGM, the organization meeting of the Board of Directors elected Kari Stadigh as chairman and Matti Kavetvuo as deputy chairman of the Board.
The Board of Directors also appointed the members of the permanent committees. The members of the Audit Committee are Kai Seikku, Erkki Solja and Harri Suutari. Kari Stadigh, chairman of the Board, and Matti Kavetvuo, deputy chairman of the Board, continue as members of the Nomination and Compensation Committee in accordance with the charter of the Board.
ALMA MEDIA CORPORATION
Vice President, Corporate Communications and IR
Alma Media in brief
Alma Media is a profitably growing and internationally expanding company that invests in the future of newspapers and online media. It's best known products are the Aamulehti, Iltalehti, Kauppalehti and Etuovi.com.
Net sales in 2007 totalled EUR 329 million and the operating margin was over 19 %. The company's share is listed in the Mid Cap segment of the OMX Exchange's Nordic List, trading code ALN1V.
- Date: 12.3.2008, 16:45
- News type: Stock exchange release
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