Notice is given to the shareholders of
Shareholders of
A. Matters on the agenda of the Annual General Meeting
The following matters will be discussed at the Annual General Meeting:
- Opening of the meeting
-
Calling the meeting to order
-
Election of persons to scrutinize the minutes and supervise the counting of votes
-
Recording the legality of the meeting
- Recording the attendance at the meeting and adoption of the list of votes
- Presentation of the financial statements, including the consolidated financial statements, the report of the Board of Directors and the auditor's report for the financial year 1.1. -
31.12.2023
- CEO's review
-
Financial statements, the consolidated financial statements, the report of the Board of Directors and the auditor's report have been available on the company's website since
13 March 2024 .
-
Adoption of the financial statements and the consolidated financial statements
- Resolution on the use of the profit shown on the balance sheet and the distribution of dividend
The Board of Directors proposes to the Annual General Meeting that a dividend of
- Payment of profit commission to personnel
The Board of Directors proposes to the Annual General Meeting that a maximum of
- Resolution on the discharge of the members of the Board of Directors and the CEO from liability for the financial year 1.1. -
31.12.2023
- Handling of the remuneration report for governing bodies
The Board of Directors proposes to the Annual General Meeting the adoption of the remuneration report for the governing bodies of
- Handling of the remuneration policy for governing bodies
The Board of Directors proposes to the Annual General Meeting the adoption of the updated remuneration policy for the governing bodies of
- Resolution on the remuneration of the members of the Board of Directors
Shareholders representing a total of more than 50 % votes of the company, propose to the Annual General Meeting that remuneration of the members of the Board of Directors remains unchanged and therefore, the members of the Board of Directors to be elected will receive following fees for the term of office starting at the end of the Annual General Meeting on
- the Chairman of the Board of Directors will receive
EUR 48,000 a year, -
the deputy chairman of the Board of Directors will receive
EUR 45,000 a year, and -
ordinary members of the Board of Directors will each receive
EUR 38,000 a year.
In addition, the shareholders in question propose that costs related to participation in the meetings of the Board of Directors will be reimbursed to the members in accordance with the company's travel policy.
- Resolution on the number of the members of the Board of Directors
Shareholders representing a total of more than 50 % votes of the company, propose to the Annual General Meeting that the number of the members of the Board of Directors shall be seven (7).
- Election of the Board of Directors
Shareholders representing a total of more than 50 % votes of the company, propose to the Annual General Meeting that for the term starting at the end of the Annual General Meeting on
The above-mentioned member candidates have consented to their election.
The above-mentioned shareholders propose that the Annual General Meeting takes a position on the proposal regarding the election of the members of the Board of Directors as a whole. The proposing body has evaluated the proposed composition from the point of view of the corporate governance code, both as a whole and with regard to individual member candidates. The proposing body considers that in addition to the complementary excellent competence and experience of the individual member candidates, the proposed Board of Directors as a whole also meets the requirements of the corporate governance code.
Information about the member candidates that is relevant in the work of the Board of Directors has been presented on the company's website at https://www.ponsse.com/en/company/investors/corporate-info/board-of-directors.
- Resolution on the remuneration of the auditor
The Board of Directors proposes to the Annual General Meeting that the remuneration to the auditor to be elected be paid according to the auditor's reasonable invoice approved by the Board of Directors.
For the sake of clarity, it is noted that the elected auditor would also be paid remuneration for services rendered for sustainability reporting assurance services according to a reasonable invoice approved by the Board of Directors.
- Election of the auditor
The Board of Directors proposes to the Annual General Meeting that
The Board of Directors confirms that its proposal is free from influence by a third party and that no clause of the kind referred to in paragraph 6 of Article 16 of the EU Audit Regulation (No. 537/2014), which would restrict the Annual General Meeting's choice regarding the election of the auditor, has been imposed upon the Board of Directors.
The company shall prepare its first statutory sustainability report for the financial period 2024. If
- Authorization to the Board of Directors to decide on the repurchase of the company's own shares
Shareholders representing a total of more than 50 % votes of the company, propose to the Annual General Meeting that the Annual General Meeting would authorize the Board of Directors to decide on the repurchase of company's own shares as follows:
A maximum of 250,000 shares may be repurchased in one or more tranches. The maximum amount corresponds to approximately 0.89 % of the company's total shares and votes.
The shares shall be acquired through public trading, for which reason the shares are acquired otherwise than in proportion to the share ownership of the shareholders and the consideration paid for the shares shall be the market price of the company's share in public trading at
The Board of Directors decides how the shares are acquired. The company's own shares may be repurchased other than in proportion to the shares held by the shareholders (directed repurchase), if there is a weighty financial reason for the company to do so as provided for in Chapter 15, Section 6 of the Finnish Companies Act. The company's own shares may be acquired to develop the company's capital structure, to be used to finance or execute possible acquisitions or investments supporting the company's growth strategy or other arrangements related to the company's business, to be used in the company's incentive schemes or otherwise to be transferred, held, or cancelled.
The decision to repurchase company's own shares shall not be made so that the shares of the company in the possession of by the company and its subsidiaries would exceed 10 % of all shares.
The authorization is valid until the closing of the next Annual General Meeting, however, no longer than until
- Authorization to the Board of Directors to decide on the share issue and the issuance of option rights and other special rights entitling to shares
Shareholders representing a total of more than 50 % votes of the company, propose to the Annual General Meeting that the Annual General Meeting the Board of Directors to be authorized to, in one or more tranches, decide on the issuance of shares as well as the issuance of options and other special rights entitling to shares referred to in Chapter 10, Section 1 of the Finnish Companies Act as follows:
The number of shares to be issued based on the authorization may in total amount to a maximum of 250,000 shares (including shares issued based on options or special rights), corresponding to approximately 0.89 % of all the shares in the company.
The Board of Directors decides on the terms and conditions of the issuance of shares. The authorization concerns both the issuance of new shares as well as the transfer of treasury shares either against payment or without consideration. The issuance of shares may be carried out in deviation from the shareholders' pre-emptive right (directed issue) for a weighty financial reason for the company, such as using the shares to develop the company's capital structure, to execute possible acquisitions or investments supporting the company's growth strategy or in other arrangements related to the company's business or to be used in the company's incentive schemes. The Board of Directors may also decide on a free share issue to the company itself.
The authorization is valid until the closing of the next Annual General Meeting, however, no longer than until
- Closing of the meeting
B. Documents of the Annual General Meeting
This notice of the meeting, which includes all matters on the agenda of the Annual General Meeting, is available on the company's website at https://www.ponsse.com/agm.
The annual report of
Aforementioned documents are available for review at the meeting and copies of these documents and of this notice will be sent to shareholders upon request. The minutes of the Annual General Meeting will be available on the above-mentioned website no later than Tuesday
C. Instructions for the participants in the Annual General Meeting
1. Shareholders registered in the shareholders' register of the company
A shareholder, who is registered in the shareholders' register of the company held by
Registration for the Annual General Meeting will begin on Monday
- Electronically through the company's website at https://www.ponsse.com/agm.
Registration requires strong electronic authentication of a shareholder who is a natural person. When a shareholder who is a natural person logs into the service through the company's website, they are directed to the electronic authentication. After this, a shareholder can in one session register to the Annual General Meeting, authorize another person and vote in advance. Strong electronic authentication can be made with a Finnish bank ID or a mobile certificate. In connection with the registration, a shareholder is required to provide the requested personal information.
For shareholders who are legal persons, electronic registration requires their book-entry account number, registration number or business ID and other required information.
For shareholders who are legal persons, electronic registration does not require strong electronic authentication. However, if the shareholders who are legal persons use the electronic Suomi.fi e-authorization described in section C.3 below, registration requires a strong electronic authentication of the authorized person by using a Finnish bank ID or mobile certificate.
- By e-mail tanja.karppinen@ponsse.com or by regular mail
- By phone to the number +358 20 768 800 (from
In connection with the registration, the requested personal information is required to be provided, such as the shareholder's name, date of birth / personal identification number or business ID, address, phone number and email address, as well as name of a possible proxy representative and the date of birth / personal identity number of a possible proxy representative. The personal information given to the company by shareholders is only used in connection with the Annual General Meeting and with the processing of related necessary registrations.
Shareholders, their representatives, or their proxy representatives must be able to prove their identity and/or right of representation at the meeting venue if deemed necessary.
2. Holders of nominee-registered shares
A holder of nominee-registered shares has the right to participate in the Annual General Meeting by virtue of such shares for which they on the record date of the Annual General Meeting, on Tuesday
A holder of nominee-registered shares is advised to request without delay necessary instructions regarding the registration in the temporary shareholders' register of the company, the issuing of proxy documents and registration for the Annual General Meeting from their custodian bank. The account management organization of the custodian bank has to register a holder of nominee-registered shares, who wants to participate in the Annual General Meeting, into the temporary shareholders' register of the company at the latest by
More information on the company's website at https://www.ponsse.com/agm.
3. Proxy representative and powers of attorney
A shareholder is entitled to participate and make use of their rights as a shareholder at the Annual General Meeting by a proxy representative. A proxy representative of a shareholder may also vote in advance as described in this notice. A person holding a shareholder's proxy should be in possession of a dated proxy document or otherwise be able to show in a reliable manner that they are entitled to act in this capacity on behalf of the shareholder. A template for proxy document and voting instructions will be available on the company's website from
In the event that a shareholder is represented by more than one proxy representative representing shares held in different book-entry accounts, each proxy representative should state which shares they represent when registering to attend the Annual General Meeting.
A proxy representative must deliver a proxy document given to them by email tanja.karppinen@ponsse.com or by regular mail to
Shareholders can also use the electronic Suomi.fi authorization service for authorizing an assignee instead of the traditional proxy document. An assignee will be nominated in the Suomi.fi service at https://www.suomi.fi/e-authorizations using the authorization topic "Representation at the General Meeting". An assignee must identify themselves with strong electronic authentication in Euroclear Finland Ltd's general meeting service when registering, after which the electronic mandate is automatically checked. The strong electronic authentication works with a Finnish bank ID or a mobile certificate. More information on www.suomi.fi/e-authorizations.
4. Advance voting
Shareholders with a Finnish book-entry account may register and vote in advance on certain matters on the agenda of the Annual General Meeting during the period between
a) Through the company's website at https://www.ponsse.com/agm.
Shareholders who are natural persons log into the service with strong electronic authentication, which works with a Finnish bank ID or a mobile certificate. Strong electronic authentication for registration or voting in advance requires the use of a Finnish bank ID or a Finnish mobile certificate and the shareholder needs to provide personal identification number or business ID, e-mail address and/or telephone number.
Strong electronic authentication is not required from shareholders that are legal persons. In this case, shareholders that are legal persons must provide their book-entry account number in addition to their business ID / identification number. The account number can be found in account statement of the book-entry account.
If the shareholder's authorized representative uses the Suomi.fi electronic authorization, registration requires strong electronic identification of the authorized person, which can be conducted with Finnish bank ID or a Finnish mobile certificate.
b) By email or regular mail
A shareholder may send an advance voting form available on the company's website from
If a shareholder participates in the Annual General Meeting by submitting votes in advance by regular mail or email to
In connection with the advance voting, a shareholder is required to provide the requested personal information. The personal information given to
Shareholders who have voted in advance may not exercise the right to ask questions or the right to demand a vote according to the Finnish Companies Act, unless they participate in the Annual General Meeting at the meeting venue in person or by way of proxy representative. Shareholders may make a statement on any matter they want and change their votes cast in advance during the advance voting period, as well as browse the votes they cast in advance even after the Annual General Meeting. Shareholders may also print out a confirmation of the votes they have given in advance.
For holders of nominee-registered shares, advance voting is carried out via the account manager. The account manager may cast advance votes on behalf of the holders of nominee-registered shares in accordance with the voting instructions provided by the holders of nominee-registered shares during the registration period for the nominee-registered shares.
Proposals which are subject to advance voting are considered to have been presented unchanged at the Annual General Meeting. The terms and conditions as well as other instructions for electronic advance voting are available on the company's website at https://www.ponsse.com/agm. On the above-mentioned website, information is also available for registration for the Annual General Meeting and voting in advance for a minor, other impaired person or foreign shareholder who has a Finnish book-entry account.
5. Other instructions and information
The meeting will be conducted in Finnish and there is no simultaneous translation at the meeting.
Pursuant to chapter 5, section 25 of the Companies Act, a shareholder who is present at the Annual General Meeting has the right to ask questions with respect to the matters to be considered at the meeting.
Changes in the ownership of shares after the record date of the Annual General Meeting do not affect the right to participate in the meeting or the number of votes of the shareholder.
On the date of this notice to the Annual General Meeting,
Vieremä,
The Board of Directors
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www.ponsse.com
The company was established by forest machine entrepreneur Einari Vidgrén in 1970 and has been a leader in timber harvesting solutions based on the cut-to-length method ever since.
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