Report from the annual general meeting in RusForest AB (publ) on 10 May 2012

RusForest AB 

11.05.2012 06:16
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Stockholm, 2012-05-11 06:16 CEST (GLOBE NEWSWIRE) -- 

RusForest's annual general meeting on 10 May 2012 resolved in accordance with
the following 



Adoption of the annual accounts etc.

*The annual general meeting adopted the income statements and balance sheets
for the parent company and the group for the year 2011, and resolved that the
non-restrictive equity carried forward of SEK 571,928,000 together with the
non-restrictive equity for the year of SEK 120,481,137, in total SEK
692,409,137, shall be carried forward. The annual general meeting further
resolved to discharge the board members and the managing director from
liability. 



Board of directors and auditors etc.

*The annual general meeting resolved, in accordance with the nomination
committee's proposal, that the fees to each board member who does not draw any
salary from the company shall amount to SEK 150,000. The fee to the chairman of
the board of directors shall however amount to SEK 300,000. Fees to the audit
committee and operational committee established by the board of directors,
consisting of up to three board members each, will amount to SEK 100,000 to the
chairman and SEK 75,000 each to the other committee members. The annual general
meeting further resolved, in accordance with the nomination committee's
proposal, to authorise the board of directors, when needed, to engage one or
more of the board members to strengthen the company's management, for which
work such board member is entitled to a fixed fee of SEK 10,000 per person and
day. The annual general meeting also resolved that fees to the board members
may be invoiced by a company in which case the invoiced fee shall be determined
so that it is cost neutral for RusForest. 

*   The annual general meeting resolved that the auditor's fee shall be paid on
account, as approved by the board of directors. 

*   The annual general meeting resolved, in accordance with the nomination
committee's proposal, that the number of board members shall be five (5)
without any deputy members and to re-elect Franz Bergstrand, Per Brilioth,
Jerker Karlsson, Kenneth Eriksson and Camilla Öberg as board members. Kenneth
Eriksson was re-elected as chairman of the board of directors. 

*   The annual general meeting further resolved, in accordance with the
nomination committee's proposal, that the audit committee shall consist of
Camilla Öberg (chairman), Kenneth Eriksson and Per Brilioth. The operational
committee shall consist of Franz Bergstrand (chairman), Kenneth Eriksson and
Jerker Karlsson. The composition of the committees may be altered upon a
resolution by the board of directors. 

RusForest's employee stock option plan 2012/2015

*The annual general meeting resolved, in accordance with the board of
director's proposal, to adopt RusForest's employee stock option plan 2012/2015,
to issue not more than 6,270,000 warrants in order to hedge the company's
obligations under the stock option plan and to approve disposition of the
warrants within the employee stock option plan. The board of director's
complete proposal is available at the company's webpage, www.rusforest.com. 



For further information please contact:



Martin Hermansson, CEO, phone: +7 903 015 64 65, +7 985 921 92 32

or

Per Brilioth, Board member, phone: +46 8 545 015 50



About RusForest AB (publ)



RusForest is a forestry and sawmilling company operating in Eastern Siberia and
the Arkhangelsk region of Russia. The Company controls long term forest leases
with an annual allowable cut of approximately 3.6 million m3, and utilizes
these resources to produce a wide range of sawnwood products. Eastern Siberia
is renowned for its pine and larch of exceptional quality, while the
Arkhangelsk Region in northwest Russia has high quality spruce and pine forests
similar to those found in northern Sweden. 



RusForest's goal is to develop into a leading independent integrated forestry
and sawmilling company in Russia with an annual harvesting of 2.7 to 2.9
million m³. The Group's total sawmilling capacity, which is currently
approximately 415,000 m³, is expected to, following completion of on-going
investments; gradually increase to 500,000 to 550,000 m³ of sawnwood. There is
significant potential (of up to 800,000 to 850,000 m³ of sawnwood) within the
maximum allowable harvesting. 



RusForest AB's Certified Adviser on First North is Pareto Öhman AB.
News Source: NASDAQ OMX



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Language:     English
Company:      RusForest AB
              
               
              Sweden
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         SE0001732728
WKN:          
 
End of Announcement                             DGAP News-Service
 
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