2012

DECISIONS TAKEN AT GLASTON CORPORATION'S ANNUAL GENERAL MEETING  

.Glaston Corporation’s Annual General Meeting was held on March 27, 2012 in Helsinki.

The Annual General Meeting adopted the financial statements and consolidated financial statements for the period from 1 January to 31 December 2011. In accordance with the proposal of the Board of Directors, the General Meeting resolved that no dividend shall be distributed for the financial year 2011.

The General Meeting discharged  the members of the Board of Directors and the President and CEO from liability for the financial year 1 January 1– 31 December 2011.

The number of the members of the Board of Directors was resolved to be six. The General Meeting decided to re-elect Mr Claus von Bonsdorff, Mr Teuvo Salminen, Mr Christer Sumelius, Mr Pekka Vauramo and Mr Andreas Tallberg as members of the Board of Directors for the following term ending at the closing of the next Annual General Meeting, end elect Mrs Anu Hämäläinen, M.Sc. (Econ.), as a new member of the Board of Directors.

In its organization meeting held after the General Meeting, the Board of Directors elected Andreas Tallberg as Chairman of the Board and Christer Sumelius as Deputy Chairman of the Board.

The General Meeting resolved that the yearly remuneration payable to the members of the Board of Directors remain as follows: 40,000 euro for the Chairman of the Board and 30,000 euro for the Deputy Chairman of the Board and the remuneration payable to other members of the Board of Directors shall remain at 20,000 euro.

Public accountants Ernst & Young Oy was appointed as the company's auditor with Authorized Public Accountant Harri Pärssinen as the responsible auditor.

The Annual General Meeting resolved in accordance with the proposal of the Board of Directors’ to amend the Articles 10 and 11 of the Articles of Association.

 Article 10 was amended so that the General Meetings would be held in the place where the company is domiciled or in Espoo. Additionally, a mention will be added to the Article whereby the chairman of the General Meeting has the right to resolve the method of voting, in case a matter is to be resolved by vote at the General Meeting.

Article 11 was amended so that the notice to the General Meeting will be published on the Company’s website. In addition, the Board of Directors could decide to publish the information regarding the meeting in a newspaper.