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Kesko reports on proposals of General Meeting.

M2 EQUITYBITES-April 4, 2017-Kesko reports on proposals of General Meeting

(C)2017 M2 COMMUNICATIONS http://www.m2.com

Kesko Oyj (HEL:KESBV), an operator of wholesale and retail stores, reported on Monday that its Annual General Meeting adopted the financial statements for 2016 and discharged the board members and the managing director from liability.

Also, the General Meeting resolved to distribute EUR2.00 per share as dividends. This distribution will be on 99 466 465 shares held outside the company at the date of dividend distribution, for a total amount of EUR198,932,930.00. No dividend will be paid on own shares held by the company as treasury shares on the record date for the payment of dividend. The record date for dividend distribution is 5 April 2017 and the General Meeting resolved that the dividend pay date is 12 April 2017.

In addition, the General Meeting resolved that the number of board members is seven and resolved to leave the board members' remuneration and the basis for reimbursement of their expenses unchanged.

The Annual General Meeting held on 13 April 2015 had elected seven board members for terms expiring at the close of the 2018 Annual General Meeting in accordance with the Articles of Association. They are Esa Kiiskinen, Tomi Korpisaari, Toni Pokela, Mikael Aro, Matti Kyytsonen, Anu Nissinen and Kaarina Stahlberg.

Reportedly, Korpisaari and Stahlberg resigned from the board as of 1 March 2016. The General Meeting elected Matti Naumanen, a retailer, and Managing Director Jannica Fagerholm to replace Korpisaari and Stahlberg until the close of the Annual General Meeting to be held in 2018.

In addition, the General Meeting elected PricewaterhouseCoopers Oy as the Company's auditor. APA Mikko Nieminen is the auditor with principal responsibility.

Further, the General Meeting approved the board's proposal for its authorisation to decide on the donations in a total maximum of EUR300,000 for charitable or similar purposes until the Annual General Meeting to be held in 2018 and to decide on the donation recipients, purposes of use and other terms of the donations.

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Publication:M2 EquityBites (EQB)
Date:Apr 4, 2017
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