Result of AGM
June 27 2003 - 3:36AM
UK Regulatory
BW20030626000137 20030627T063616Z UTC
( BW)(ALTIN-AG)(AIA) Result of AGM
Business Editors
UK REGULATORY NEWS
LONDON--(BUSINESS WIRE)--June 27, 2003--
Altin AG
RESOLUTIONS OF THE ANNUAL GENERAL MEETING
of Altin AG, which took place on Wednesday, 25 June
2003, starting at 4:00 p.m. (Swiss time) at
"Parkhotel Zug", Industriestrasse 14, CH-6304
Zug, Switzerland.
(Excerpt of the minutes)
Agenda with Proposals of the Board of Directors and Resolutions of the Annual General Meeting:
1.1. Annual Report and Annual Financial Statement for the year 2002, Auditors' Report
The Board of Directors proposes the following:
- the approval of the Annual Report and the Annual Financial Statement for the year 2002; and
- the receipt of the Auditors' Report.
1.2. Resolution of the Annual General Meeting
The Annual General Meeting unanimously resolves the approval of
the Annual Report and the Annual Financial Statement for the
year 2002 and takes notice of the Auditor's Report.
2.1. Group Financial Statement for the year 2002, Group Auditors' Report
The Board of Directors proposes the following:
- the approval of the Group Financial Statement for the year 2002; and
- the receipt of the Group Auditors' Report.
2.2. Resolution of the Annual General Meeting
The Annual General Meeting unanimously resolves the approval of
the Group Financial Statement for the year 2002 and takes notice
of the Group Auditors' Report.
3.1. Appropriation of Retained Earnings
The Board of Directors propose that the retained earnings for
the year 2002 of CHF 58'259'521.00 be carried forward.
3.2. Resolution of the Annual General Meeting
The Annual General Meeting resolves that the retained earnings
for the year 2002 of CHF 58'259'521.00 be carried forward.
4.1. Release from Liability for the Members of the Board of Directors
The Board of Directors propose that all the members of the Board
of Directors be released from liability for their activities in
relation to the Company for the financial year 2002.
4.2. Resolution of the Annual General Meeting
The Annual General Meeting unanimously resolves that all the
members of the Board of Directors be released from liability for
their activities in relation to the Company for the financial
year 2002.
5.1. Re-election of the Board of Directors and re-appointment of Auditors
The Board of Directors propose the following:
- the re-election of Dr. Peter Beglinger, Eric M.C. Syz, Paolo Luban, Andre Pabst, Rodolfo De
Benedetti, Francesco Rossi and Nigel Russel to the Board of Directors for one year; and
- the re-election of PricewaterhouseCoopers AG, Zurich, as Auditors of the Company and as Group
Auditors for one year.
5.2. Resolution of the Annual General Meeting
The Annual General Meeting unanimously resolves the re-election
of Dr. Peter Beglinger, Eric M.C. Syz, Paolo Luban, Andre Pabst,
Rodolfo De Benedetti, Francesco Rossi and Nigel Russel to the
Board of Directors for one year; and the re-election of
PricewaterhouseCoopers AG, Zurich, as Auditors of the Company
and as Group Auditors for one year.
6.1. Share capital reduction and repayment of reduction in nominal value, and change to the Articles of
Association
The Board of Directors propose the following:
- Reduction of the share capital by the amount of CHF
29'793'588.-- to CHF 84'415'166.--. - Evidence by a special audit
report, that all the claims of the creditors are fully covered
notwithstanding the reduction of capital.
- Settlement of the share capital reduction by reducing the
nominal value of each share by CHF 6.-- to CHF 17.-- and
that the amount of the reduction be paid out to the
shareholders (CHF 6.-- by each share).
- Using of any profits resulting from the reduction of capital exclusively for writing-off
purposes (Article 732 para. 4 Swiss Code of Obligations [CO])
- Respective change of Article 5 of the Articles of Association.
6.2. Resolution of the Annual General Meeting
The Annual General Meeting resolves the reduction of the share
capital by the amount of CHF 29'793'588.-- to CHF
84'415'166.--., the settlement of the share capital reduction by
reducing the nominal value of each share by CHF 6.-- to CHF
17.--, the payout of the amount of the reduction to the
shareholders (CHF 6.-- by each share), the using of any profits
resulting from the reduction of capital exclusively for
writing-off purposes (Article 732 para. 4 Swiss Code of
Obligations [CO]) and the change of Article 5 of the Articles of
Association.
7. Miscellaneous
--
Zug, June 26, 2003
The Chairman: The Secretary:
Dr. Peter Beglinger PD Dr. Peter V. Kunz
Short Name: Altin AG
Category Code: RAG
Sequence Number: 00006394
Time of Receipt (offset from UTC): 20030627T073156+0100
--30--ZW/uk*
CONTACT: Altin AG
KEYWORD: UNITED KINGDOM SWITZERLAND INTERNATIONAL EUROPE
INDUSTRY KEYWORD: BANKING
SOURCE: Altin AG
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