YIT Corporation Stock Exchange Release April 3, 2025, at 1:20 p.m.
Resolutions passed at the Annual General Meeting of YIT Corporation
The Annual General Meeting of YIT Corporation held today, April 3, 2025, adopted
the 2024 financial statements and discharged the members of the Board of
Directors and the President and CEO from liability. The Annual General Meeting
approved the Remuneration Report for the company's governing bodies for the
financial year 2024. The Annual General Meeting also decided on the composition
of the Board of Directors and their fees, as well as authorizing the Board of
Directors to decide on the repurchase of company shares and share issues.
Distribution of dividends
The Annual General Meeting decided to approve the proposal of the Board of
Directors to not distribute dividend.
Remuneration report
Remuneration report for the company's governing bodies for the financial year
2024 was presented to the Annual General Meeting. The Annual General Meeting
decided to approve the remuneration report. The decision was advisory.
Composition of the Board of Directors and their fees
The Annual General Meeting resolved to elect a Chairperson, Vice Chairperson and
four ordinary members to the Board of Directors for a term ending at the close
of the next Annual General Meeting following their election, namely: Jyri
Luomakoski re-elected as the Chairperson, Casimir Lindholm re-elected as the
Vice Chairperson and Anders Dahlblom, Sami Laine, Kerttu Tuomas and Leena
Vainiomäki re-elected as members.
It was resolved that the members of the Board of Directors be paid the following
fixed annual fees for the term of office ending at the conclusion of the next
Annual General Meeting:
Chairperson of the Board: EUR 105,000
Vice Chairperson and Chairpersons of the permanent Committees: EUR 73,500,
unless the same person is Chairperson of the Board or Vice Chairperson of the
Board and
members EUR 52,500.
In addition, it was decided that the annual remuneration for the members of the
Board of Directors shall be paid in company shares so that 40% of the annual fee
is paid in YIT Corporation shares to be purchased on the Board members' behalf
from the market at a price determined in public trading from a regulated market
(Nasdaq Helsinki Ltd). The shares will be purchased within two weeks of the
publication of the Interim Report for the period 1 January-31 March 2025 or on
the first possible date under applicable law. The company will pay any costs
related to the purchase of company shares.
In addition to the fixed annual fee, the members of the Board and its
permanently and temporarily appointed committees be paid a meeting fee of EUR
800 per meeting, also for meetings of the Board and its committees held via
electronic remote connections or by telephone.
The Chairperson of the Board and the Chairperson of the permanent and
temporarily appointed committees be paid a meeting fee of EUR 1,600 per meeting.
Per diems are paid for trips in Finland and abroad in accordance with YIT
Corporation's and tax authorities' travelling compensation regulations.
The members of the Shareholders' Nomination Board, including the expert member,
will be paid a meeting fee of EUR 800 per a Board meeting and the Chairperson be
paid EUR 1,600 per a Board meeting.
Election of the auditor
Ernst & Young Oy, Authorised Public Accountants, was elected as the auditor for
the financial year 2025, with Mikko Rytilahti, APA, serving as the chief
auditor. It was also resolved that the auditor's fee was to be paid according to
their invoice approved by the Company.
Election of the sustainability auditor
Ernst & Young Oy, Authorized Sustainability Audit Firm, was elected as the
Company's sustainability auditor for the financial year 2025, with Mikko
Rytilahti, ASA, serving as the chief sustainability auditor. It was also
resolved that the sustainability auditor's fee was to be paid according to their
invoice approved by the Company.
Repurchase of the company's own shares
The Annual General Meeting authorized the Board of Directors to decide on the
purchase of company shares as proposed by the Board of Directors. The
authorization covers the purchasing of a maximum of 23,000,000 company shares
using the company's unrestricted equity. The authorization reverses the
authorization to purchase the company's own shares issued by the Annual General
Meeting on March 14, 2024.
The authorization is valid until June 30, 2026.
Share issues
The Annual General Meeting authorized the Board of Directors to decide on share
issues as proposed by the Board of Directors. The authorization can be used in
full or partially by issuing shares in the company in one or more tranches so
that the maximum number of shares issued is a total of 23,000,000. The Board of
Directors has the right to decide on all terms and conditions of issuing
shares.
The authorization reverses the authorization to decide on share issues by the
Annual General Meeting on March 14, 2024.
The authorization is valid until June 30, 2026.
Other information
On April 3, 2025, the total number of YIT shares is 232,059,853 and YIT holds
1,485,749 of its own shares.
The minutes of the Annual General Meeting will be available on the Internet at
the company's website www.yitgroup.com by April 17, 2025, at the latest.
For further information:
Juha Jauhiainen, Corporate General Counsel, YIT Corporation, tel. +358 40 725
643, juha.jauhiainen@yit.fi (%E2%80%AFjuha.jauhiainen@yit.fi)
YIT Corporation
Tuomas Mäkipeska
CFO
Distribution: Nasdaq Helsinki, major media, www.yitgroup.com
We build and develop sustainable living environments: functional and comfortable
real estate as homes, public and commercial buildings for future needs,
infrastructure to promote the green transition, and industrial, production and
energy facilities to support our customers' processes. YIT's vision is to be the
most competent partner in the development of sustainable homes, spaces and
cities - for a good life. The company employs around 4 100 professionals, and in
2024 our turnover was EUR 1.8 billion. YIT's shares are listed on Nasdaq
Helsinki.
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