EXEL OYJ STOCK EXCHANGE RELEASE 10.4.2003 11.50 1 (2)
DECISIONS OF THE ANNUAL GENERAL MEETING OF EXEL OYJ
In the Annual General Meeting of Exel Oyj held on 10 April, 2003, the
accounts of the Group were approved and the members of the Board of
Directors and the President were discharged from liability for the
financial period and the members of the Board were elected. The
Boards proposal to increase the share capital was approved. The
proposal to distribute a dividend of EUR 0.20 per share was approved.
Dividend and discharge from liability
The AGM approved the Boards proposal to distribute a dividend of EUR
0.20 per share. Dividend will be paid on 24 April, 2003 to
shareholders who are registered in the Companys Shareholder Register
maintained by the Finnish Central Securities Depository Ltd. The
record date for dividend distribution is 15 April, 2003.
The AGM approved Exels accounts and discharged the members of the
Board and the President from liability for the financial period 2002.
Election of members to the Board of Directors
According to the decision made in the AGM the number of the members of
the Board of Directors is five. Kari Haavisto, Peter Hofvenstam, Vesa
Kainu and Mika Sulin were re-elected to the Board. Ove Mattsson was
elected as a new member to the Board. Ove Mattsson was elected
Chairman of the Board.
Increase in share capital
The AGM approved the proposal by the Board to increase the Companys
share capital under the following terms: the Board was authorized to
decide to increase the Companys share capital by one or more rights
issues in such a way that the Companys share capital may be increased
at the most by EUR 352,500. The authorization is valid until 10 April,
In virtue of the authorization the Board may decide on who is entitled
to exercise subscription rights in connection with the rights issue,
the subscription price of the shares and the criteria used to
determine the subscription price and other terms of the rights issue.
The pre-emptive right of shareholders to acquire shares may be
deviated provided that from the Companys perspective important
financial grounds exist, such as the financing, implementation or
enabling of a business acquisition or another cooperative arrangement,
the strengthening or development of the Companys financial or capital
structure or the implementation of other measures relative to the
development of the Companys business. No decision may be taken for
the benefit of the Companys insiders.
In virtue of the authorization the Board is entitled to decide on a
rights issue in such a way that a share subscription may be made in
kind or otherwise under certain terms.
Helsinki, 10 April, 2003
Board of Directors
Mr. Ari Jokelainen, President & CEO, Exel Oyj, tel. +358 50 590 6750