Authorizations
The Annual Shareholders' Meeting held on April 7, 2010, has granted the following authorizations to the Board:
Authorization to aquire company shares
The shareholders authorized the Board to decide on the acquisition of company-held shares using the unrestricted shareholders' equity of the company. The authorization covers a maximum of 500,000 own shares. The shares shall be acquired through public trading, for which reason the shares are acquired otherwise than in proportion to the holdings of the shareholders and the consideration paid for the shares shall be the market price of Aspo's share at the time of repurchase. The authorization does not exclude the Board's right to resolve on a directed repurchase.
The shares shall be acquired to be used to finance or carry out possible acquisitions or other arrangements, to balance the financial risk of the company's share-ownership program or for other purposes determined by the Board.
The Board may not exercise the authorization if after the acquisition the company or its subsidiary would posses or have as a pledge more than ten (10) per cent of the company's stock.
Authorization to a share issue
Furthermore, the shareholders authorized the Board to decide on a share issue, through one or several instalments, to be executed by conveying shares held by the company. An aggregate maximum amount of 1,020,000 shares may be conveyed based on the authorization. The authorization will be used for the financing or execution of corporate acquisitions or other transactions, the execution of the company's share-ownership program or for other purposes determined by the Board.
The authorization includes the right of the Board of Directors to decide on all the terms and conditions of the conveyance and thus also includes the right to convey shares otherwise than in proportion to the holdings of the shareholders, in deviation from the shareholders' pre-emptive right on the conditions provided by law.
The authorizations are valid until the Annual Shareholders' Meeting in 2011, but no more than 18 months from the approval at the Shareholders' Meeting.