Authorizations

 

VMP’s shareholders authorized on May 18, 2018 the Board of Directors to decide on the issuance of a new shares or special rights under chapter 10 section 1 of the Finnish Limited Liability Companies Act that entitle to shares in one or several lots. The authorization concerns both the issuance of new shares as well as the transfer of own shares held by the company and the aggregate number of shares to be issued on the basis of the authorization may not exceed 2,000,000 shares. Own shares can be repurchased otherwise than in proportion to the shareholdings of the shareholders (directed repurchase). Under the authorization, the Board of Directors will be entitled to decide on the terms and conditions of a share issue, or the granting of special rights. Authorization remains in force until the end of the next Annual General Meeting, however, no longer than until June 30, 2019.

VMP’s shareholders authorized on May 18, 2018 the Board of Directors to resolve on the repurchase of the company’s own shares. The maximum number of treasury shares to be acquired under the authorization is up to 1,000,000 shares. However, the Company may not, together with its subsidiaries, hold more than 10 percent of all the Company’s shares at any time. The Board of Directors may decide on how the shares shall be repurchased and that own shares can be repurchased using, inter alia, derivatives. Own shares can be repurchased at a price formed in public trading on the date of the repurchase or otherwise at a price formed on the market. Own shares can be repurchased otherwise than in proportion to the shareholdings of the shareholders (directed repurchase) and only the unrestricted equity of the company can be used to repurchase own shares on the basis of the authorization. Authorization remains in force until the end of the next Annual General Meeting, however, no longer than until June 30, 2019.