Nokia, the Finland-based technology company, has had to cancel its Annual General Meeting (AGM) which was scheduled Tuesday March 17, 2020 to a later date.
Nokia’s action was as a result of the Finnish government’s presidential decree which banned gatherings of more than 10 people.
“The health and safety of our employees, shareholders and other stakeholders is our first priority. We take the measures to mitigate the coronavirus seriously and therefore Nokia’s Board of Directors has resolved to cancel the Annual General Meeting initially scheduled to be held on April 8, 2020,” Nokia said in a release.
“Nokia will convene the Annual General Meeting at a later stage as soon as it is practically possible to organize the meeting. Furthermore, in line with our mission to create the technology to connect the world and as a forerunner of offering our shareholders an on-line advance voting solution in the Finnish market, Nokia strongly advocates for measures to allow fully virtual general meetings to enable efficient shareholder participation.”
Nokia, which at its peak in 2000 accounted for about 4 per cent of Finland’s GDP, 21 per cent of total exports, and 70 per cent of the Helsinki Stock Exchange market capital, has about 50 top corporate shareholders.