Amer Sports Corporation
STOCK EXCHANGE RELEASE
March 12, 2015 at 3.45 p.m.
Decisions of Amer Sports Corporation Annual General Meeting
At the Annual General Meeting of Amer Sports Corporation held on March 12, 2015, the following resolutions were approved:
Adoption of the annual accounts and consolidated annual accounts
The Annual General Meeting (AGM) approved Amer Sports annual accounts and consolidated annual accounts for 2014.
Resolution on use of the profit shown on the balance sheet and the payment of dividend
The AGM resolved to distribute a dividend of EUR 0.45 per share to be paid for the financial year ended December 31, 2014. The dividend will be paid to shareholders who are registered on the list of shareholders maintained by Euroclear Finland Ltd as of March 16, 2015, which is the record date for the dividend payment. The dividend will be paid on April 1, 2015.
Resolution on the discharge of the members of the Board of Directors and the CEO from liability
The AGM granted the members of the Board of Directors and Company’s President and CEO a discharge from liability for the financial year 2014.
Resolution on the remuneration of the members of the Board of Directors
The AGM resolved that the annual remuneration payable to the members of the Board of Directors to be elected at the Annual General Meeting for the term until the close of the Annual General Meeting in 2016 remains unchanged from 2014 and be as follows: Chairman EUR 100,000, Vice Chairman EUR 60,000 and other members EUR 50,000 each. No extra remuneration is paid for attending meetings of the Board of Directors or meetings of the Committees of the Board of Directors. Of the annual remuneration, 40% is paid in the form of the Company’s shares and 60% in cash. A member of the Board of Directors is not permitted to sell or transfer any of these shares during the term of his or her Board membership. However, this limitation is only valid for a maximum of five years after the acquisition of the shares.
Resolution on the number of the members of the Board of Directors
The AGM confirmed that the number of the members of the Board of Directors is eight (8).
Election of members of the Board of Directors
The AGM re-elected Ilkka Brotherus, Martin Burkhalter, Christian Fischer, Hannu Ryöppönen, Bruno Sälzer, Anssi Vanjoki and Indra Åsander as members of the Board of Directors and elected Lisbeth Valther Pallesen as a new member of the Board of Directors. The Board of Directors’ term of service will run until the close of the 2016 Annual General Meeting.
Resolution on the remuneration of the auditor
The AGM decided that the auditor’s fee will be paid as invoiced.
Election of auditor
The AGM elected Authorized Public Accountants Ernst & Young Oy to act as auditor of the Company.
Authorizing the Board of Directors to decide on the repurchase of the Company’s own shares
The AGM authorized the Board of Directors to decide on the repurchase of a maximum of 10,000,000 of the Company’s own shares (“Repurchase Authorization”).
The Company’s own shares shall be repurchased otherwise than in proportion to the holdings of the shareholders by using the non-restricted equity through trading on regulated market organized by NASDAQ OMX Helsinki Ltd at the market price prevailing at the time of acquisition.
The shares shall be repurchased and paid for in accordance with the rules of the NASDAQ OMX Helsinki Ltd and Euroclear Finland Ltd.
The Repurchase Authorization is valid eighteen (18) months from the decision of the Annual General Meeting.
Authorizing the Board of Directors to decide on the share issue
The AGM authorized the Board of Directors to decide on issuing new shares and/or conveying the Company’s own shares held by the Company as follows:
By virtue of the authorization, the Board of Directors is entitled to decide on issuing new shares and/or on conveying the Company’s own shares at the maximum amount of 10,000,000 shares in aggregate. The Board of Directors decides on all the conditions of the share issue. The issuance or conveyance of shares may be carried out in deviation from the shareholders’ pre-emptive rights (directed issue). The authorization includes possibility to issue own shares to the Company for free.
The authorization is valid until two (2) years from the date of the decision of the Annual General Meeting, except that the authorization to issue new shares and/or convey the Company’s own shares for purposes other than the Company’s bonus schemes is valid until fourteen (14) months from the date of the decision of the Annual General Meeting.
For further information, please contact:
Päivi Antola, Director, Corporate Communications and IR, tel. +358 20 7122 537
NASDAQ OMX Helsinki Oy
Amer Sports (www.amersports.com) is a sporting goods company with internationally recognized brands including Salomon, Wilson, Atomic, Arc’teryx, Mavic, Suunto and Precor. The company’s technically-advanced sports equipment, footwear and apparel improve performance and increase the enjoyment of sports and outdoor activities. The Group’s business is balanced by its broad portfolio of sports and products and a presence in all major markets. Amer Sports shares are listed on the Nasdaq Helsinki stock exchange (AMEAS).