SATO Corporation, Stock Exchange Release 20 March 2025 at 14:00 pm
The Annual General Meeting of SATO Corporation was held on 20 March 2025 in Helsinki. The meeting approved the financial statements for 2024 and granted discharge from liability to the Board of Directors and the CEO. The Annual General Meeting decided that no dividend would be distributed for 2024 and approved the proposals of the Shareholders' Nomination Committee regarding the members of the Board of Directors and their remuneration. In addition, the meeting authorised the Board of Directors to decide on the issuance of shares.
Adoption of financial statements and discharge from liability
The Annual General Meeting approved the financial statements for 2024 and granted discharge from liability to the members of the Board of Directors and the CEO for the financial year 1 January - 31 December 2024.
The Board of Directors
The number of members of the Board of Directors was confirmed to be six (6).
The Annual General Meeting elected Erik Selin to serve as Chair of the Board. Members Esa Lager, Tarja Pääkkönen, Sharam Rahi and Ming Eng were re-elected as members of the Board of Directors. Juha Juntunen was elected as a new member.
Auditor
Audit firm Deloitte Oy was elected as the auditor. Deloitte Oy has notified that APA Aleksi Martamo will continue to serve as the auditor with principal responsibility.
Deloitte Oy will also act as the assurer of the company's sustainability reporting for the financial year 2025, in accordance with the transitional provision of the Act amending the Companies Act (1252/2023).
Dividend distribution
The Annual General Meeting resolved that SATO Corporation will not distribute any dividend for the financial year 2024 as proposed by the Board of Directors.
Authorizing the Board of Directors to decide on the issuance of shares
The Annual General Meeting authorized the Board of Directors to decide on the share issue in one or more tranches as follows: The total maximum number of shares to be issued under the authorization is 8,506,424. The maximum number of shares corresponds to approximately 10 per cent of all shares of the company. The Board of Directors decides on all terms of the share issue. The authorisation covers both the issuance of new shares and the transfer of own shares. The share issue may be carried out as a directed issue, deviating from shareholders' pre-emptive subscription rights.
The authorization is valid until the end of the next Annual General Meeting, but in any case, no later than 30 June 2026, and revokes the authorization granted by the Annual General Meeting on 21 March 2024.
Minutes of the Annual General Meeting
The minutes of the Annual General Meeting will be available on the company's website under AGM, notices and minutes | SATO no later than 3 April 2025.
For more information, please contact:
Leena Rentola, General Counsel, SATO Corporation, tel. +358 40 592 1665, firstname.lastname@sato.fi
SATO Corporation
Distribution: Euronext Dublin, main media, www.sato.fi/en
SATO Corporation is an expert in sustainable rental housing and one of Finland's largest rental housing providers. SATO owns around 26,000 rental homes in the Helsinki Metropolitan Area, Tampere and Turku.
SATO aims to provide an excellent customer experience and a comprehensive range of urban rental housing alternatives with good access to public transport and services. We promote sustainable development and work in open interaction with our stakeholders.
SATO invests profitably, sustainably and with a long-term view. We increase the value of our assets through investments, divestments and repairs. In 2025, SATO celebrates its 85th anniversary. www.sato.fi/en
