HKScan Annual General Meeting Approves Financials, Discharges Board

HKScan Corporation's Annual General Meeting, held on June 10, 2020, in Turku approved the company’s financial statements and discharged the Board of Directors and CEO from liability for the 2019 fiscal year. A total of 39 shareholders, representing 46,670,804 shares and 148,270,804 votes, were represented at the meeting. All proposals made by the Board of Directors received at least 99.39 percent support from the votes cast.

The meeting decided not to distribute any dividend for 2019, adhering to the Board's proposal. This decision was supported by a significant majority of the votes.

Six directors and two deputy directors were elected or re-elected to the Board until the conclusion of the 2021 Annual General Meeting. Reijo Kiskola was re-elected Chairman and Jari Mäkilä was re-elected Vice Chairman. The Board members' annual remuneration was increased, with the Chairman receiving EUR 70,000, the Vice Chairman EUR 37,500, and other members EUR 30,000. Deputy members will receive EUR 15,000.

A portion of the remuneration, 25 percent, will be paid in company shares acquired on the market, with the remainder paid in cash. Additional remuneration will also be provided to committee chairmen. The company also elected Ernst & Young Oy as its auditor for the upcoming year, with Erkka Talvinko designated as the lead audit partner. The AGM also authorized the Board to issue shares and acquire its own shares under specific conditions until June 30, 2021.