The Annual General Meeting shall be held annually in either Jyväskylä or Helsinki on a date determined by the Board of Directors, within six months after the end of the financial year, no later than the end of October.
An Extraordinary General Meeting may be held if the Board of Directors deems it necessary or there are legal grounds for doing so.
Pursuant to the Articles of Association (Appendix 1), the General Meeting shall be convened by registered letter to each shareholder sent to the address in the share register or sent electronically to the email address given by the shareholder no later than eight days before the meeting.
All shareholders have the right to participate in General Meetings by following the instructions provided in the notice of the General Meeting. Shareholders can participate in the General Meeting themselves or by a proxy representative. Each share confers one vote at the General Meeting.
The General Meeting decides on matters within its purview pursuant to the Limited Liability Companies Act, such as confirming the financial statements, the distribution of profit, discharging the members of the Board of Directors and the CEO from liability and any amendments to the Articles of Association. The General Meeting also appoints the members of the Board of Directors, the members of the Supervisory Board and the company’s auditors and decides on their remuneration.
The appointment of members to the Board of Directors and the Supervisory Board is also subject to the provisions of the Shareholders’ Agreement between the company’s owners. The Shareholders’ Agreement also includes more detailed provisions regarding the decision-making procedure concerning certain decisions.
Due to Vapo Oy being a privately held company owned by three shareholders, the company does not publish the minutes of the General Meeting, proposals for resolutions or other meeting documents on its website. Similarly, not all members of the Board of Directors, the CEO, the members of the Group Management Team or the auditor are present at the Annual General Meeting. Persons nominated for appointment to the Board of Directors for the first time shall be present at the General Meeting deciding on their appointment unless there is a weighty reason for their absence.
A separate press release shall be published regarding appointments. The financial statements and the notes to the financial statements are published on Vapo’s website.
FY2019 Vapo Oy’s Annual General Meeting for the financial year 1 May 2018–30 April 2019 was held in Helsinki on 6 September 2018. All shares and votes were represented at the General Meeting. In addition, an Extraordinary General Meeting held on 17 October 2018 amended the composition of the Board of Directors and, on 18 March 2019, the shareholders unanimously decided to amend the company’s financial year, with the next financial year being 1 May–31 December 2019, and the financial year being the calendar year thereafter.