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Corporation, stock exchange release, February 26, 2019 at 1.40 p.m.
EET
Decisions taken by KONE Corporation's Annual General
Meeting and Board of Directors
Matters relating to the Annual General Meeting
KONE Corporation's Annual General Meeting was held in
Helsinki on February 26, 2019. The meeting approved the financial
statements and discharged the responsible parties from liability
for the financial period January 1-December 31, 2018.
The General Meeting approved dividends in line with the Board of
Director's proposal of EUR 1.6475 for each of the 76,208,712 class
A shares and EUR 1.65 for each of the outstanding 440,070,040 class
B shares. The date of record for dividend distribution is February
28, 2019 and dividends will be payable on March 7, 2019.
The number of Members of the Board of Directors was confirmed as
eight. Re-elected as Members of the Board were Matti Alahuhta, Anne
Brunila, Antti Herlin, Iiris Herlin, Jussi Herlin, Ravi Kant,
Juhani Kaskeala and Sirpa Pietikäinen.
The General Meeting confirmed an annual compensation of EUR 55,000
for the Chairman of the Board, EUR 45,000 for the Vice Chairman and
EUR 40,000 for Board Members. In addition, a compensation of EUR
500 was approved for attendance at Board and Committee meetings.
For Committee members residing outside of Finland, a compensation
of EUR 2,000 for attendance at Committee meetings was approved. Of
the annual remuneration, 40 percent will be paid in class B shares
of KONE Corporation and the rest in cash.
Authorized public accountants PricewaterhouseCoopers Oy and Jouko
Malinen were nominated as auditors.
Authorization to repurchase own shares
The General Meeting approved the authorization for the
Board of Directors to repurchase KONE's own shares. Altogether no
more than 52,440,000 shares may be repurchased, of which no more
than 7,620,000 may be class A shares and 44,820,000 class B shares.
The authorization shall remain in effect for a period of one year
from the date of decision of the General Meeting.
Decisions by the Board of Directors
At its meeting held after the General Meeting, the Board
of Directors elected from among its members Antti Herlin as its
Chairman and Jussi Herlin as Vice Chairman.
Jussi Herlin was elected as Chairman and Anne Brunila, Antti
Herlin and Ravi Kant as members of the Audit Committee. Anne
Brunila and Ravi Kant are independent of both the company and of
significant shareholders.
Antti Herlin was elected as Chairman and Matti Alahuhta, Jussi
Herlin and Juhani Kaskeala as members of the Nomination and
Compensation Committee. Matti Alahuhta and Juhani Kaskeala are
independent of both the company and of significant
shareholders.
For further information, please contact:
Jukka Ala-Mello, Secretary to the Board, tel. +358 (0)204 75
4226
Sender:
KONE Corporation
Jukka Ala-Mello
Secretary to the Board
Ilkka Hara
CFO
About KONE
At KONE, our mission is to improve the flow of urban life. As a
global leader in the elevator and escalator industry, KONE provides
elevators, escalators and automatic building doors, as well as
solutions for maintenance and modernization to add value to
buildings throughout their life cycle. Through more effective
People Flow®, we make people's journeys safe, convenient and
reliable, in taller, smarter buildings. In 2018, KONE had annual
sales of EUR 9.1 billion, and at the end of the year over 57,000
employees. KONE class B shares are listed on the Nasdaq Helsinki
Ltd. in Finland.
www.kone.com