At the Annual General Meeting of UPM-Kymmene Corporation, held on 22 March, 2001, the accounts of the Corporation were approved and the persons responsible were discharged from liability for the financial period. According to the proposal of the Board of Directors it was decided that dividend of EUR 1.50 per share will be paid on 3 April, 2001. The record date for the payment of dividend is 27 March, 2001.
Two new members, Mrs. Donna Kaufman, Canadian lawyer and Mr. Michael Bottenheim, former Managing Director of Lazard Brothers, were elected to the Board of Directors. In addition, Mr. Martti Ahtisaari, former President of the Republic of Finland; Mr. Carl H. Amon III, Partner in White & Case law firm; Mr. L.J. Jouhki, Managing Partner of Thom Companies; Mr. Antoon Lenstra, President of Unilever PLC's Business Group Africa and Middle East; Mr. Juha Niemelä, President and CEO of UPM-Kymmene Corporation; Mr. Jorma Ollila, Chairman of the Board and CEO of Nokia Corporation; Mr. Gustaf Serlachius, Chairman of the Gösta Serlachius Fine Arts Foundation and Mr. Vesa Vainio, Chairman of Nordea plc., were elected members of the Board of Directors.
The auditing company SVH Pricewaterhouse Coopers Oy and Mr. Lars Blomquist, Authorized Public Accountant, were appointed Auditors of the Corporation. The auditing company Pricewaterhouse Coopers Oy and Mr. Eero Suomela, Authorized Public Accountant, were appointed Deputy Auditors.
The Board of Directors' proposal to increase the share capital through a transfer from reserves was approved. The company's share capital will be increased by EUR 4,710,909.64 to EUR 441,954,302.30. The proposal of the Board of Directors to reduce the share capital by invalidating the company's 12,900,000 own shares held by the company was approved.
The proposal by the Board of Directors on the purchase of the company's own shares using distributable funds was approved. A minimum of 100 and a maximum of 12,300,000 own shares will be purchased. The Annual General Meeting authorized the Board of Directors to decide on the disposal of own shares thus acquired.
22 March, 2001