Balda AG / Key word(s): AGM/EGM
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
– Annual general meeting elects new supervisory board members
– Shareholders disapprove the expansion of existing authorisation of the
– New financing structure: preliminary agreement about milestones for a
stable financing structure
Bad Oeynhausen / Bielefeld – The annual general meeting of Balda AG, listed
in the Prime Standard Segment of the German Stock Exchange, has voted for a
new supervisory board, reduced to three members. After the resignation of
all Supervisory Board members, except the Chairman Richard Roy, new
elections became necessary. About 400 shareholders voted for Dr. Manfred
Puffer und Michael Sienkiewicz as new supervisory board members. About 60.9
percent of the authorised capital was present at the 9th annual general
meeting in Bielefeld.
The Board of Directors expect an upturn of business activities in the
second part of 2008 compared to the first half of the business year. In
addition, the Board of Directors reported, that with regards to the new
financing structure, milestones for a stable financing have been agreed
upon with the banks. A formal closure of this agreement will be expected
for August 2008.
The annual general meeting met controversial decisions and did not follow
several proposals of the management. The Board of Directors and the
Chairman of the Supervisory Board were not approved of their actions taken
in 2007. On the other hand, the shareholders did exonerate the other
members of the supervisory board, having resigned.
The shareholders voted for the authorisation to purchase and to sell own
shares. In contrast, the annual general meeting denied the expansion of the
existing authorisation to increase the share capital until including July
2013 by issuing shares of up to around 27 million euros.
In addition, the shareholders voted against the issuance of convertible
bonds and bonds with warrants and the creation of conditional capital
amounting to about 3.4 million euros.
The chairman of the annual general meeting presented the new supervisory
board as experienced managers. At present, Dr. Puffer is responsible for
the business in Germany, Austria and Eastern Europe of JP Morgan Chase /
Bear Stearns International London. He also belongs to the supervisory board
of the Austrian ‘Bundesfinanzagentur’. Puffer formerly was active in
leading positions for WestLB, Kirch-Group, Hypovereinsbank AG and Goldman
Sachs. Sienkiewicz is a versed business consultant from San Francisco with
extensive management experience in the telecommunication industry.
* * *
Company profile Balda AG
The internationally operating Balda Group develops and produces highly
integrated devices comprising plastic, metal and electronic components as
well as touch sensors. Among the customers of the Prime Standard listed
company are international brand-names from the mobile telephony industry,
medical technology and various related markets.
The integration of plastic and touch screen technologies creates completely
new customer benefits. Only Balda currently offers both technologies from
one source on a global scale. The group has a strong position in the
important growth markets China and India and owns four production
facilities in the region. Plants in Brazil and in Malaysia, as well as the
facility in Germany for Balda Medical, underline the global competitiveness
of the group of companies.
* * *
This ad hoc-announcement includes ‘forward-looking statements’ which are
based on the current expectations of the management of Balda. They are
subject to risks and uncertainty because they relate to events and depend
on circumstances that will occur in the future, such as, for example,
developments in the mobile communications industry, changes in technology
and the ability to timely and successfully develop new products and various
other factors. Balda does not undertake any obligation to update publicly
or revise forward-looking statements except to the extent legally required.
This ad hoc-announcement is not an offer of securities for sale or a
solicitation of an offer to purchase securities in the United States or
elsewhere. The shares in Balda AG (the ‘Shares’) may not be offered or sold
in the United States or to or for the account or benefit of U.S. persons
(as such term is defined in Regulation S under the U.S. Securities Act of
1933, as amended (the ‘Securities Act’)) unless registered under the
Securities Act or pursuant to an exemption from such registration. The
Shares have not been and will not be registered under the Securities
If you have any questions please contact: Balda AG, Clas Röhl, Phone: +49
5734 922 2728, Fax: +49 5734 922 2691, Mail: firstname.lastname@example.org, Internet:
29.07.2008 DGAP’s Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
Company: Balda AG
Bergkirchener Str. 228
32549 Bad Oeynhausen
Phone: +49 (0) 57 34 / 9 22-0
Fax: +49 (0) 57 34 / 9 22-2604
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart
End of Announcement DGAP News-Service