Resolutions taken by the annual general meeting of SATO Corporation
21 March 2024
SATO Corporation, Stock Exchange release, 21 March 2024 at 3:15 pm
Adoption of financial statements and discharge from liability
On 21 March 2024 the Annual General Meeting of SATO Corporation adopted the company's financial statements for the financial period 1 January - 31 December 2023 and discharged the members of the Board of Directors and the President and CEO from liability for the financial period 2023.
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 Chair of the Board. Members Esa Lager, Tarja Pääkkönen, Sharam Rahi and Timo Stenius were re-elected as members of the Board of Directors. Ming Eng was elected as a new member.
Auditor
Audit firm Deloitte Oy elected as the auditor. Deloitte Oy has notified that APA Aleksi Martamo will serve as the auditor with principal responsibility.
Dividend distribution
The Annual General Meeting resolved that SATO Corporation will not distribute any dividend for the financial year 2023.
Authorizing the Board of Directors to decide on the issuance of shares
The Annual General Meeting authorized the Board of Directors to decide on the share issue in one or more tranches as set out in the notice of the AGM:
The total maximum number of shares to be issued under the authorization is 8,517,460. The maximum number of shares corresponds to approximately 10 per cent of all registered shares in the company after the share issue completed at the beginning of the year.
The Board of Directors decides on all the conditions of the issuance of shares. The authorization concerns both the issuance of new shares as well as the transfer of own shares held by the company. The issuance of shares may be carried out in deviation from the shareholders' pre-emptive right by way of a directed issue.
The authorization is valid until the end of the next Annual General Meeting, but in any case, no later than 30 June 2025, and revokes the authorization granted by the Extraordinary General Meeting on 11 December 2023.
Further information
President and CEO Antti Aarnio, tel. +358 20 134 4200
CFO Markku Honkasalo, tel. +358 20 134 4226
DISTRIBUTION: Euronext Dublin, main media, www.sato.fi
SATO Corporation is an expert in sustainable rental housing and one of Finland’s largest rental housing providers. SATO owns around 25,000 rental homes in the Helsinki Metropolitan Area, Tampere and Turku.
SATO aims to provide an excellent customer experience and a comprehensive range of urban rental housing alternatives with good access to public transport and services. We promote sustainable development and work in open interaction with our stakeholders. SATO invests profitably, sustainably and with a long-term view. We increase the value of our assets through investments, divestments and repairs.