Annual General Meeting
The Annual General Meeting (AGM) must be held each year within six months of the end of the financial period on a date determined by the Board of Directors. The Annual General Meeting is typically the only General Meeting held.
According to the Articles of Association, the Annual General Meeting must:
- Present the financial statements, including an income statement, balance sheet and annual report
- Present the audit report
- Decide on the approval of the income statement and balance sheet
- Decide on any measures prompted by the profit or loss reported in the approved balance sheet
- Decide on granting discharge from liability to the members of the Board of Directors, the CEO and the Deputy CEO
- Decide on the fees to be paid to the auditor and the members of the Board of Directors
- Elect the members of the Board of Directors and the auditor
- Attend to any other matters mentioned in the summons to the meeting.
Any shareholder wishing to have a matter discussed at the AGM must request this from the Board by the date specified in the company’s financial calendar. Shareholders can submit their requests for consideration by email at legal(at)munifin.fi.
Extraordinary General Meeting
If necessary, an Extraordinary General Meeting (EGM) is convened to address a specific proposal made to the General Meeting. An EGM must be held if shareholders with at least 10 per cent of total shares request the consideration of a specific matter in writing. In such cases, the summons to the meeting must be sent within one month of the arrival of the request.
Summons to a General Meeting
According to MuniFin’s Articles of Association, the summons to a General Meeting must be delivered in writing by publishing it on the company’s website, by sending it to the e-mail addresses given by each shareholder to the company, by mailing it to the postal addresses entered in the shareholder register or by publishing it in a publication specified by the Board of Directors. The summons to a General Meeting must be delivered no earlier than three months and no later than one week before the record date of the General Meeting. The last date for advance notices of participation is mentioned in the summons.
Management presence in the General Meetings
To facilitate interaction between shareholders and the senior management, the CEO, Chair of the Board and a sufficient number of Board members must attend the General Meetings. At the Annual General Meeting, the entire Board, as well as individuals nominated for the Board for the first time, should be present whenever possible. At Extraordinary General Meetings, the number of required Board members depends on the nature of the matter. The auditor should be present at the General Meeting whenever possible.
Minutes of the General Meeting
Minutes are taken at the General Meeting and provided to the shareholders upon request. The minutes of the General Meeting are also made available on the company’s website.