Annual Report 2019
Report by the Board of Directors
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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, 2019, the distributable assets of the parent company are EUR 116,759,025.98 of which the profit of the financial year is EUR 4,759,958.60. The Board of Directors proposes that the Annual General Meeting to be held on April 1, 2020 resolve to pay EUR 0.10 per share as dividend based on the adopted balance sheet for the financial period of January 1, 2019–December 31, 2019. 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 3, 2020. The Board of Directors proposes that the dividend be paid on April 14, 2020. Bittium Corporation follows a dividend policy that takes into account the Corporation´s net income, financial status, need for capital and financing of growth. 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 the company´s solvency.

In Oulu, February 20, 2020

Erkki Veikkolainen
Chairman of the Board

Seppo Mäkinen
Member of the Board
Pekka Kemppainen
Member of the Board

Juha Putkiranta
Member of the Board

Riitta Tiuraniemi
Member of the Board
Petri Toljamo
Member of the Board

Hannu Huttunen
CEO