The highest decision-making body in Proha Plc is the General Meeting of shareholders. The Annual General Meeting is held within six months after the end of the financial year on a date set by the Board of Directors. The Board of Directors may convene an Extraordinary General Meeting.
The General Meeting decides among other things on:
- adoption of the financial statements and disposition of result
- discharge of the members of the Board of Directors and the CEO from liability
- the number of members on the Board of Directors and their appointment
- election of auditors
- remuneration for the Board of Directors and on the auditors fees
- raising or lowering the share capital
- issue of shares or authorization given to the Board of Directors
- amendment of the Articles of Association
In accordance with the Articles of Association, a notice of a General Meeting shall be sent to the shareholders not earlier than three (3) months and not later than seventeen (17) days before the meeting by publishing an announcement of the meeting in at least one national newspaper designated by the Board of Directors or by sending the notice to the shareholders by registered mail to the address registered in the shareholders’ register.
Proha's practice is to publish a notice in the Finnish daily newspaper Helsingin Sanomat. The notice is also published as a stock exchange bulletin and on Proha’s Internet pages.
Candidates nominated for the Board of Directors are disclosed in the notice of the General Meeting or in some other way after the publication of the notice and before the General Meeting, if the candidate has given his/her consent to the election and is supported by shareholders who account for at least 10% of the company’s shares. The company also announces the Board of Directors’ proposal for the company’s auditor.
The company strives at introducing first-time candidates to the shareholders at the General Meeting that is convened for the purpose of the election of the Board.
Register to the Annual General Meeting 2010 from here