Report by the Board of Directors

Proposal by the Board of Directors on the Use of the Profit Shown on the Balance Sheet and the Payment of the Dividend

According to the parent company´s balance sheet at December 31, 2017, the distributable assets of the parent company are EUR 121,840,275.23 of which the profit of the financial year is EUR 1,649,956.18.

The Board of Directors proposes that the Annual General Meeting to be held on April 11, 2018 resolve to pay EUR 0.30 per share as additional dividend based on the adopted balance sheet for the financial period of January 1, 2017–December 31, 2017. The dividend will be paid to the shareholders who are registered as shareholders in the Company´s register of shareholders as maintained by Euroclear Finland Ltd on the dividend record date, Friday April 13, 2018. The Board of Directors proposes that the dividend be paid on Friday April 20, 2018.

There have not been any substantial changes in the Company´s financial position after the financial year. The Company has good liquidity and according to the Board of Directors, the proposed distribution of profits does not danger the Company´s solvency.

In Oulu, Finland, 21th of February 2018 

Erkki Veikkolainen
Chairman of the Board

Kirsi Komi
Member of the Board
Juha Putkiranta
Member of the Board

Staffan Simberg
Member of the Board

Seppo Mäkinen
Member of the Board
Tero Ojanperä
Member of the Board

Hannu Huttunen