Resolutions taken by the Annual General Meeting of SATO Corporation
23 June 2020
SATO Corporation, Stock Exchange Release, 23 June 2020 at 4:15 pm
Adoption of financial statements and discharge from liability
On 23 June 2020 the Annual General Meeting of SATO Corporation adopted the company's financial statements for the financial period 1 January - 31 December 2019 and discharged the members of the Board of Directors and the President and CEO from liability for the financial period 2019.
Board of Directors
The number of members of the Board of Directors was confirmed to be six (6).
The Annual General Meeting elected Erik Selin to serve as Chairman of the Board. Members Jukka Hienonen, Esa Lager, Tarja Pääkkönen, Johannus (Hans) Spikker and Timo Stenius were re-elected as members of the Board of Directors.
Auditor
Deloitte Oy, the firm of authorized public accountants, was elected as the auditor. Deloitte Oy has notified that APA Eero Lumme will serve as the auditor with principal responsibility.
Dividend distribution
The Annual General Meeting resolved that the company will not distribute any dividend for the financial year ending on 31 December 2019.
For more information please contact:
Sharam Rahi, President and CEO, phone +358 201 34 4001
Markku Honkasalo, CFO, phone +358 201 34 4226
DISTRIBUTION: NASDAQ Helsinki Ltd., main media, www.sato.fi
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SATO is one of Finland's leading rental housing providers. SATO aims to offer a comprehensive choice of rental housing and an excellent customer experience. At year-end 2019, SATO owned over 26 000 apartments in Finland's largest growth centres and in St Petersburg.
We promote sustainable development and initiative through our operations and work in open interaction with our stakeholders to generate added value. We operate profitably and with a long-term view. We increase the value of our housing stock through investments, divestments and repairs.
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SATO Group's net sales in 2019 were EUR 296 million, operating profit EUR 726 million and profit before taxes EUR 671 million. The value of SATO's investment assets is roughly EUR 4,7 billion.