Resolutions of Valoe’s Annual General Meeting, Decision on a Follow-up Meeting, and Organising of the Board of Directors
28 June 2024 - 9:10PM
Resolutions of Valoe’s Annual General Meeting, Decision on a
Follow-up Meeting, and Organising of the Board of Directors
Valoe Corporation
Stock Exchange
Release 28 June
2024 at 14.10 Finnish time
Valoe Corporation's Annual General Meeting was held on 28 June
2024 in Mikkeli, Finland.
The AGM approved the remuneration report for Valoe’s governing
bodies. The resolution on the remuneration report is advisory. It
was resolved that the Board of Directors will have four members.
Hannu Savisalo, Industrial counsellor; Ville Parpola, lawyer;
Tuomas Honkamäki, authorized public accountant; and Iikka Savisalo,
CEO, continue as old Board members in the Board of Directors.
At its organizing meeting following the Annual General Meeting,
Valoe's Board of Directors elected Hannu Savisalo as the Chairman
and Ville Parpola as the Vice Chairman of the Board. The Board of
Directors decided, due to the scope of the company's business, that
it is not necessary to establish any separate Board committees.
The Annual General Meeting resolved that an annual remuneration
of EUR 40,000 will be paid to the Chairman and to the Vice Chairman
of the Board, and EUR 30,000 to the members of the Board of
Directors. Further, travel costs will be paid to the Board members
pursuant to the company’s travel policy.
In addition, the General Meeting resolved to authorize the Board
of Directors to decide on a share issue with and/or without
payment, either in one or in several occasions, including right to
resolve on option rights and other rights entitling to shares
pursuant to the Chapter 10, Section 1 of the Finnish Companies Act
so that the number of new shares issued based on the authorization
or number of shares issued based on option rights and other special
rights entitling to the shares pursuant to the Chapter 10, Section
1 of the Finnish companies Act, could increase by a total maximum
amount of 4,500,000 shares. The authorization does not exclude the
Board’s right to decide also on directed issue of shares or option
rights and other special rights pursuant to the Chapter 10, Section
1 of the Finnish Companies Act. The authorization may be used for
important arrangements from the company’s point of view e.g. to
strengthen the capital structure, to finance investments, for
acquisitions and business transactions or other business
arrangements, or to expand ownership structure, or for other
purposes resolved by the Board involving a weighty financial reason
for issuing shares or option rights or special rights entitling to
shares pursuant to the Chapter 10, Section 1 of the Finnish
Companies Act. The share issue may be executed by deviating from
the shareholders' pre-emptive subscription right provided the
company has a weighty financial reason for that. The authorization
is in force until 30 June 2025.
Valoe's financial statements for 2023 are not yet audited, as
the company does not currently have an auditor elected by a general
meeting. Therefore, the agenda items related to the financial
statements, the use of the loss for 2023, the dividend payment, and
the discharge were not discussed at the Annual General Meeting. It
was resolved to adjourn the Annual General Meeting and postpone the
discussion of the items mentioned above, as well as the decision on
the remuneration and election of the auditor to a follow-up
meeting. The Board of Directors will convene a follow-up meeting at
a date to be announced later.
In Mikkeli 28 June 2024
Valoe Corporation
Board of Directors
For more information:Iikka Savisalo, President and CEO, Valoe
Corporation Tel. +358 40 521 6082email:
iikka.savisalo@valoe.com
Distribution:NASDAQ OMX, Helsinki Main media www.valoe.com
Valoe Corporation designs, manufacturers, and sells solar power
application projects, especially for vehicles and electronics.
Valoe’s applications are based on the company’s own back contact
technology and IBC solar cells manufactured at the Company’s cell
factory in Lithuania. Valoe is headquartered in Mikkeli, Finland,
with production facilities in Juva, Finland, and Vilnius,
Lithuania.
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