The following authorisation granted by the Annual General Meeting to the Board of Directors on 5 April 2018 is in force:
UPM's Annual General Meeting authorised the Board of Directors to decide on the acquisition of the company's own shares on 5 April 2018. The maximum number of shares that can be repurchased based on this authorisation amounts to 50,000,000 shares. The share buy-back authorisation will remain valid for 18 months from the date of the AGM decision. This authorisation canceled the authorisation to buy back the company's own shares decided by the Annual General Meeting on 29 March 2017.
The following authorisation granted by the Annual General Meeting to the Board of Directors on 7 April 2016 is in force:
The aggregate maximum number of new shares that may be issued and treasury shares that may be transferred is 25,000,000 including also the number of shares that can be received on the basis of the special rights. The authorization will be valid for three years from the date of the AGM resolution.
The Annual General Meeting held on 5 April 2018 decided on the removal of § 12 from the Articles of Association. The decision became effective on 13 April 2018.
UPM is not aware of any shareholder agreements concerning either the ownership of the company's shares or the exercise of the associated voting rights.