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, 2016, the distributable assets of the parent company are EUR 130,898,268.85 of which the profit of the financial year is EUR 3,461,321.81.

The Board of Directors proposes that the Annual General Meeting to be held on April 12, 2017 resolve to pay EUR 0.05 per share as dividend from the profit of the financial period based on the adopted balance sheet for the financial period of January 1, 2016–December 31, 2016 and EUR 0.25 per share as additional dividend. 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, April 18, 2017. The Board of Directors proposes that the dividend be paid on April 25, 2017.

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

In Oulu, Finland, 19th of February 2017 

 Erkki Veikkolainen  Kirsi Komi   Juha Putkiranta
 Staffan Simberg  Seppo Mäkinen  Hannu Huttunen