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Stora Enso's Board Proposals to the Annual General Meeting.

Publication: PR Newswire
Publication Date: 03-FEB-05 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Stora Enso today announced that Stora Enso's Board has in its meeting decided to propose the following to the Annual General Meeting to be held in Helsinki on Tuesday 22 March 2005.

Matters to be resolved by the AGM pursuant to Article 14 of the Articles of Association of the Company.

Appointment of Nomination Committee

Shareholders representing more than 50 per cent of the votes in the Company have proposed that the Annual General Meeting appoint a Nomination Committee to prepare proposals concerning (a) the number of members of the Board of Directors, (b) the members of the Board of Directors, (c) the remuneration for the Chairman, Vice Chairman and members of the Board of Directors and (d) the remuneration for the Chairman and members of the committees of the Board of Directors. The Nomination Committee would consist of four members:

- the Chairman of the Board of Directors - the Vice Chairman of the Board of Directors - two members appointed by the two largest shareholders (one each) according to the register of shareholders on 1 October 2005.

The Chairman of the Board of Directors would convene the Nomination Committee and before 31 January 2006 the Nomination Committee would present its proposals for the Annual General Meeting to be held in 2006.

A proposal by the Board of Directors to reduce the registered share capital of the Company through the cancellation of shares in the Company held by the same.

The share capital shall be reduced by not more than EUR 70 890 000 through the cancellation of not more than 9 000 000 Series A shares held by the Company and not more than 32 700 000 Series R shares held by the Company. The shares proposed to be cancelled have been repurchased by the Company on the basis of its established programme for the repurchase of its own shares. The exact number of the shares of each series to be cancelled shall be determined by the AGM.

A proposal...

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