A shareholders meeting is Stora Enso's highest decision-making body. The Annual General Meeting (AGM) is held annually in order to present detailed information about the company's performance and to deal with matters such as adopting the previous year’s income statement and balance sheet, setting of dividend and its payment, and appointing members of the Board of Directors and the Auditor.
29 April 2020 Notice to the AGM published
6 May 2020 Registration period and advance voting period commence
19 May 2020 Last day for shareholders to send questions to the AMG
25 May 2020 AGM record date
28 May 2020 Deadline for the notice of participation and votes
Please find the following material from the document library below:
Each shareholder, who is registered on the record date of the AGM, Monday 25 May 2020, in the shareholders’ register of the Company maintained by Euroclear Finland Oy, has the right to participate in the AGM.
Shareholders may only participate by voting in advance as set forth below and by the shareholders’ right to send counterproposals or questions in advance to the Company. By this way Stora Enso aims at conducting a meeting as safely as possible during the Covid-19 pandemic with regards to its shareholders, employees and other stakeholders. Please note that earlier registration for the 19 March 2020 meeting does not constitute registration for the 4 June 2020 AGM.
The registration period and advance voting period commence on 6 May 2020 and end on Wednesday 28 May 2020 at 4 p.m. Finnish time, which all votes and notices must be received by the Company or Euroclear Finland Oy.
If you wish to use the Company’s nominated proxy representative, voting instructions must be received no later than on 27 May 2020.
When registering, requested information such as the name, personal identification number, address and telephone number of the shareholder must be notified. The personal data given to Euroclear Finland Oy or the proxy representative nominated by the Company will be used only in connection with the AGM and with the processing of related registrations.
Shareholders with a Finnish book-entry account can register and vote in advance in the following ways as of 6 May 2020:
1. Electronic voting in advance
Advance voting ended on Wednesday 28 May 2020 at 4 p.m. Finnish time.
2. By regular mail or e-mail
A shareholder may print out an advance voting form available on the document library below and send it to Euroclear Finland Oy by regular mail to Euroclear Finland Oy, Yhtiökokous, PL 1110, FI-00101 Helsinki, Finland or by e-mail to firstname.lastname@example.org.
A representative of the shareholder must in connection with delivering the voting form produce a dated proxy document or otherwise in a reliable manner demonstrate his/her right to represent the shareholder at the AGM.
If a shareholder participates in the AGM by delivering votes in advance to Euroclear Finland Oy, the delivery of the votes shall constitute due registration for the AGM.
3. By delivering voting instructions to the independent proxy representative
A shareholder may use the the Company’s proxy authorisation service and authorise the independent proxy representative nominated by the Company, Mårten Knuts, Attorney-at-Law, or a person designated by him to vote in advance on your behalf for the meeting.
A template for the proxy document and voting instructions is available in the document library below. You may deliver this or the corresponding information no later than on 27 May 2020 to:
by mail at: Mårten Knuts, Attorney-at-law, Krogerus Attorneys Ltd, Unioninkatu 22, FI-00130 Helsinki, Finland
or by e-mail at: email@example.com
Shareholders were able to send questions to the Annual General Meeting by email to firstname.lastname@example.org until 19 May 2020.
What is the situation in Guangxi - is the factory built and is it operating at full capacity?
Yes, Stora Enso’s consumer board mill in Beihai, in the Guangxi region in China was inaugurated in 2016. Today the mill is operating at full capacity, which is about 500.000 tonnes of consumer boards per year.
How large areas of land does the company manage there?
Stora Enso leases 81 000 hectares of land in Guangxi province. For more information about Stora Enso’s forest holdings, see our website. More information about Stora Enso’s community work in Guangxi can be found in the Company’s Annual Report 2019 (page 24).
The company decided to reduce the dividend payment to EUR 0.15. What was the view of the largest shareholders Solidium, Kela, Varma, Ilmarinen and Keuda in this situation?
Stora Enso’s Board of Directors’ dividend proposal to the Annual General Meeting based on the results of the financial year 2019 is EUR 0.15. The AGM will decide on the payment on 4 June 2020. All shareholders of the Company may participate in the meeting and exercise their rights through voting in advance.
The resolutions of the AGM will be published after the meeting on 4 June. The minutes of the AGM will be available on Stora Enso’s website no later than on 18 June 2020.
How does the company's Board of Directors justify ethically and morally the decision to reduce the dividend payment in the situation of the Corona crisis, when the need for state funding is certainly high?
Stora Enso’s Board of Directors decided to change its dividend proposal to EUR 0.15 per share due the Covid-19 pandemic and its impact on trading conditions. In addition, the BOD proposes to the AGM that the BOD would be authorised to decide at its discretion on a dividend payment of a maximum of EUR 0.35 to be distributed in one or several instalments at a later stage when it is possible to make a more reliable estimate on the impacts of the Covid-19 pandemic on Stora Enso’s business and liquidity.
When deciding on the new dividend proposal the Board considered various aspects, amongst those the so-called minimum dividend according to Chapter 13, Section 7 of the Finnish Companies Act. The Board decided on a proposal for an immediate dividend payment corresponding to the minimum dividend while leaving room for considering all relevant aspects known at such time when making a decision on a possible additional dividend payment at a later stage assuming that the Annual General Meeting approves of the Board’s proposal.
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