Lumo Kodit Oyj Updates Articles of Association
Lumo Kodit Oyj has updated its Articles of Association. The revised charter details the company's business scope, governance structure, and representation protocols.
Helsinki – Lumo Kodit Oyj has officially revised its Articles of Association, clarifying the scope of its business operations and internal governance. The company's core business centers on housing services, including the rental of apartments and business premises, as well as the transfer of occupancy rights.
According to the updated articles, Lumo Kodit Oyj may also engage in construction activities and the development of owner-occupied dwellings through its subsidiaries or affiliated companies. This encompasses acquiring suitable land, constructing residential buildings, and owning and managing these properties. The company also functions as a parent entity within its group, overseeing and directing its subsidiaries.
The company's Board of Directors is composed of a minimum of five and a maximum of eight members. The Chairman of the Board is elected by the Annual General Meeting. The Chief Executive Officer is appointed by the Board. The company is represented by the CEO acting alone or by two members of the Board jointly. The Annual General Meeting must be held within six months of the financial year's end.
The financial year aligns with the calendar year. The Articles of Association also stipulate that shares belong to the book-entry system, with each share carrying one vote. The company's auditor is an auditing firm approved by the Finnish Patent and Registration Office.