SHERIDAN, WYOMING – April 25, 2025 - Strategic corporate resolutions support continued growth and innovation
Annual General Meeting outcomes reinforce corporate transparency
Teleste Corporation, a leader in broadband, security, and information technologies, held its Annual General Meeting on April 23, 2025, taking decisive steps to support long-term shareholder value, organizational transparency, and strategic agility.
Financial performance and dividends affirmed
At the meeting, shareholders approved the Company’s financial statements and consolidated financial statements for 2024 and granted discharge from liability to the members of the Board of Directors and the CEO. Reflecting Teleste’s stable performance, the meeting also approved a dividend of EUR 0.03 per share for the financial year ending December 31, 2024. The dividend will be distributed to shareholders excluding those held by the Company, with a record date of June 30, 2025, and payment scheduled for July 7, 2025.
Board elections and remuneration
Experienced leadership elected to guide Teleste’s future
The Annual General Meeting confirmed the number of Board members at six. Elected to serve are Mr. Timo Luukkainen, Mr. Jussi Himanen, Mr. Vesa Korpimies, Ms. Mirel Leino-Haltia, Ms. Anni Ronkainen, and Mr. Kai Telanne.
The Meeting also set the annual remuneration for Board members: EUR 66,000 for the Chair, EUR 33,000 for each member, and EUR 49,000 for the Chair of the Audit Committee. In a move promoting share ownership, 40% of these amounts will be used to purchase Teleste shares on the Nasdaq Helsinki Ltd. No separate meeting fees will be paid to Board members or the Audit Committee Chair, though Committee attendees will receive EUR 400 per meeting.
Audit and sustainability oversight strengthened
Trusted firms appointed for financial and sustainability auditing
PricewaterhouseCoopers Oy was appointed as the Company’s auditor, with Mr. Markku Launis, APA, as the responsible auditor. Compensation will follow standard invoicing procedures approved by the Company. For sustainability reporting, BDO Oy was named as the assurer, with Mr. Vesa Vuorinen, APA, taking the lead role. Their compensation will likewise follow approval-based invoicing.
Authorizations reinforce strategic flexibility
Share repurchase and issuance authorizations granted
Shareholders authorized the Board to repurchase up to 1,200,000 of the Company’s own shares through Nasdaq Helsinki Ltd. This repurchase will be funded through non-restricted equity and may occur independently of shareholder ownership ratios. The authorization remains valid for 18 months and replaces previous similar authorizations.
Additionally, the Board received approval to issue new shares and/or convey existing shares, including granting special rights, for up to 2,000,000 shares in total. Of these, up to 1,000,000 shares may be issued through special rights. These authorizations also have an 18-month validity and supersede earlier authorizations.
Board organizational structure confirmed
Committee assignments reflect governance priorities
Following the Annual General Meeting, Teleste’s Board appointed Mr. Timo Luukkainen as Chair. Committee roles were also established:
- Audit Committee: Ms. Mirel Leino-Haltia (Chair), Mr. Jussi Himanen, and Mr. Vesa Korpimies
- Personnel and Remuneration Committee: Mr. Kai Telanne (Chair), Mr. Timo Luukkainen, and Ms. Anni Ronkainen
Driving a better-connected world
With a portfolio spanning broadband access, video surveillance, and public transport information systems, Teleste continues to play a vital role in creating a safer and more connected society. In 2024, Teleste achieved net sales of EUR 132.5 million and employed approximately 670 people. The Company is listed on Nasdaq Helsinki.
For more information, visit www.teleste.com