The Board of Directors of Wärtsilä Corporation invites the shareholders to attend an Extraordinary General Meeting to be held on 24 November 2006. The Board will propose to the Meeting that an extra dividend of 1.50 euros be paid on each A and B share in addition to the dividend approved by the Annual General Meeting on 15 March 2006 based on the balance sheet confirmed for the financial year ended 31 December 2005.
Should the Meeting approve the Board’s proposal to distribute an extra dividend, the dividend will be paid to those shareholders who are registered on the record date, 29 November 2006, in the company’s shareholder register maintained by the Finnish Central Securities Depository Ltd.
The Board will propose that the dividend be paid on 7 December 2006.
For further information please call: Mr Raimo Lind, Executive Vice President & CFO, tel +358 10 7095 640
2 ATTACHMENTS
Wärtsilä Corporation ATTACHMENT 1 TO THE STOCK EXCHANGE RELEASE 31 October 2006
INVITATION TO EXTRAORDINARY GENERAL MEETING OF WÄRTSILÄ CORPORATION
The shareholders of Wärtsilä Corporation are invited to attend an Extraordinary General Meeting to be held at 1.00 pm on Friday 24 November 2006 in the Congress Wing of the Helsinki Exhibition Centre (Messukeskus) at Messuaukio 1, FIN-00520 Helsinki, Finland.
The Meeting will consider the following matter:
Distribution of extra dividend
The Board of Directors will propose to the Extraordinary General Meeting that an extra dividend of 1.50 euros be paid on each A and B share in addition to the dividend approved by the Annual General Meeting on 15 March 2006 based on the balance sheet confirmed for the financial year ended 31 December 2005.
Should the Meeting approve the Board’s proposal to distribute an extra dividend, the dividend will be paid to those shareholders who are registered on the record date, 29 November 2006, in the company’s shareholder register maintained by the Finnish Central Securities Depository Ltd. The Board will propose that the dividend be paid on 7 December 2006.
Right to attend
Shareholders who are registered on 14 November 2006 as shareholders in the company’s shareholder register maintained by the Finnish Central Securities Depository Ltd shall have the right to attend the Extraordinary General Meeting.
Notification of attendance
Shareholders wishing to attend the Extraordinary General Meeting are kindly requested to notify the company no later than 4.00 pm on 21 November 2006, either:
- in writing to Wärtsilä Corporation, Share Register, P.O. Box 196, FIN-00531 Helsinki, Finland,
- by e-mail yk@wartsila.com,
- by telefax +358 (0)10-7095283, or
- by telephone (10.00 am – 2.00 pm weekdays) +358 (0)10 7095282.
Notification must reach the company before the end of the notification period. Letters of proxy authorizing a shareholder’s representative to exercise the shareholder’s voting rights at the Meeting, should reach the company before the end of the notification period.
Helsinki, 30 October 2006
BOARD OF DIRECTORS
Wärtsilä Corporation
Wärtsilä Corporation ATTACHMENT 2 TO THE STOCK EXCHANGE RELEASE 31 October 2006
PROPOSAL BY THE BOARD OF DIRECTORS TO WÄRTSILÄ CORPORATION’S EXTRAORDINARY GENERAL MEETING ON 24 NOVEMBER 2006 TO PAY AN EXTRA DIVIDEND
The Board of Directors proposes that an extra dividend of 1.50 euros per share be paid as follows:
The Group’s retained earnings on 31 December 2005 amounted to 625,829,000 euros. Of this total, distributable funds amounted to 553,812,000 euros. The parent company’s net profit for the financial year 1 January – 31 December 2005 totalled 7,291,138.24 euros and retained earnings from previous years totalled 444,607,860.48 euros. Hence distributable funds on 31 December 2005 amounted to 451,898,998.72 euros. After payment of the dividends in 2006, distributable funds total 310,738,324.72 euros.
The Board of Directors proposes to the Extraordinary General Meeting on 24 November 2006 that an extra dividend of 1.50 euros be paid on each A and B share in addition to the dividend (1.50 euros/share) approved by the Annual General Meeting on 15 March 2006 based on the balance sheet confirmed for the financial year ended 31 December 2005.
The extra dividend will reduce the share subscription prices of Wärtsilä Corporation’s 2001 and 2002 stock options as stipulated in the terms and conditions of these schemes.
