KEMIRA OYJ ANNUAL GENERAL MEETING 11 APRIL 2000:

| Source: Kemira Oyj Kemira Oyj


At the Kemira Oyj Annual General Meeting, a dividend of EUR 0.23 per share was confirmed for 1999. Timo Kalli, M.P., will continue as Chairman of the Supervisory Board.

It was decided at the Kemira Oyj Annual General Meeting that a dividend of EUR 0.23 per share will be paid for the 1999 financial year, i.e. EUR 29.6 million in total. This corresponds to a dividend payout of 100% of the Group's net earnings. The record date for the payout of dividend is 14 April 2000, and the dividend will be paid on 26 April 2000.

It was also resolved at the Annual General Meeting that:

  • the tasks of Supervisory Board in the company's Articles of Association be changed so that major capital expenditures will be decided upon by the Board of Directors alone, except for the opening of new main areas operation or the withdrawal from such. In addition, the calling of General Meetings of shareholders is to be decided on by the Board od Directors. The provision concerning the election of auditors shall be amended so that no mention will be made of any deputy auditors;

  • the Board of Directors be authorised to purchase a total maximum of 5,440,000 shares (i.e. 4.2% of the company's total shares outstanding), on the Helsinki Exchanges (HEX) at the prevailing market price at any given time, and to transfer the shares acquired under this and previous authorisations, in a total maximum amount of 6,440,000 shares (i.e. 5 % of the company's total shares outstanding) to be used for the payment of bonuses to personnel funds operating within the Group or for the payment of incentive compensation to company management in lieu of cash, provided that the Supervisory Board/Board of Directors decides to introduce such an incentive compensation system for management, as well as for consideration in acquisitions. Authorisation for the purchase and transfer of company shares shall be in effect for one year from the date of the Annual General Meeting.

    TIMO KALLI WILL CONTINUE AS CHAIRMAN OF THE SUPERVISORY BOARD

    The number of members elected in Kemira Oyj Supervisory Board was reduced from nine to eight. Timo Kalli was re-elected Chairman of the Supervisory Board. Kari Rajamäki, M.P., continues as First Vice Chairman, and Hanna Markkula-Kivisilta, M.P., was re-elected Second Vice Chairman.

    In addition to the above-mentioned members, Sirpa Hertell, Risto Ranki, Pekka Kainulainen, and Mikko Långström will continue. The Supervisory Board's new member is Marjaana Koskinen, M.P., replacement for Helena Rissanen. Niilo Pellonmaa, previously member of the Supervisory Board, was elected Vice Chairman of the Board of Directors of Kemira Oyj at the turn of the year, and he consequently resigned from from the Supervisory Board.

    The firm of KPMG Wideri Oy Ab was re-elected as the company's auditor, with Hannu Niilekselä, CPA, serving as Chief Auditor.