CITYCON OYJ'S ANNUAL GENERAL MEETING
Citycon Oyj's Annual General Meeting took place in Helsinki on
20 March 2003. The Meeting adopted the parent company's and the
consolidated financial statements for 2002 and discharged the
members of the Board of Directors and the Chief Executive
Officer from liability. In accordance with the proposal of the
Board of Directors, the Meeting decided to approve a dividend
payment of EUR 0.09 for the financial year ended 31 December
2002 on all shares outside the Company's ownership. The record
date for the distribution of dividend is 25 March 2003 and the
dividend will be paid on 1 April 2003.
The Annual General Meeting decided to re-appoint the current
members of the Board of Directors - Stig-Erik Bergström, Heikki
Hyppönen, Juhani Järvi, Jorma Lehtonen, Carl G. Nordman and Juha
Olkinuora - for a further term of office.
Authorised public accountants Ari Ahti and Jaakko Nyman, with
authorised public accountants KPMG Wideri Oy Ab as deputy
auditor were re-appointed as the company's auditors for a
further term of office.
The Meeting decided that the Chairman of the Board of Directors
be paid an annual fee of EUR 18,000 and a fee of EUR 420 for
each meeting, that the Deputy Chairman be paid an annual fee of
EUR 14,400 and a fee of EUR 350 for each meeting and that
ordinary members of the Board of Directors be paid an annual fee
of EUR 12,000 and a fee of EUR 350 for each meeting. Payment of
the annual fee is conditional on members of the Board of
Directors signing an undertaking to use the net part of the fee
to acquire Company's shares.
The Annual General Meeting authorised the Board of Directors to
decide within one year of the Meeting whether to increase the
Company's share capital by a maximum of EUR 28,464,893.10
through one or more new issues offering a maximum aggregate of
21,085,106 new shares having a nominal value of EUR 1.35. The
authorisation includes the right to disapply the pre-emption
rights of existing shareholders.
The Annual General Meeting authorised the Board of Directors to
decide within one year of the Meeting on the acquisition of the
Company's own shares provided that the aggregate nominal value
of the shares owned by the Company, including those already
acquired, does not exceed five per cent (5 %) of the Company's
share capital and votes after the acquisition. Pursuant to this
authorisation the Company may acquire a maximum of 1,414,892 of
its own shares. The Company's own shares may be acquired for use
as consideration in any acquisitions of property, shares or any
other assets important to the Company's business.
The Annual General Meeting authorised the Board of Directors to
decide within one year of the Meeting on the conveyance of the
Company's own shares purchased by virtue of the authorisation
given to the Board of Directors and of all own shares otherwise
owned by the Company for use, for example, as consideration in
any acquisitions of property, shares or other assets important
to the Company's business.
The Board of Directors' proposals approved by the Annual General
Meeting appear in full in the Stock Exchange bulletin of 27
February 2003.
CITYCON OYJ
Petri Olkinuora
CEO
Further information is available from:
Mr Petri Olkinuora, CEO, on +358 400 333 256
Distribution:
Helsinki Exchanges and main media