DGAP-News: Balda AG: Elector chooses Berlin as venue for extraordinary General Meeting – Escape from shareholders?
11.06.2013
DGAP-News: Balda AG / Key word(s): AGM/EGM
Balda AG: Elector chooses Berlin as venue for extraordinary General
Meeting – Escape from shareholders?
11.06.2013 / 22:25
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– Supervisory Board Chairman Dr. M. Naschke: Location of meeting was
obviously chosen to keep shareholder attendance down
Bad Oeynhausen, 11 June 2013 – The shareholder Elector GmbH has convened an
extraordinary General Meeting of Balda AG. According to Elector, this
meeting will take place on Thursday, 18 July 2013 at 10 a.m. in Berlin at
the conference center in the Ludwig Erhard Haus at Fasanenstraße 85. The
purpose of the General Meeting is to appoint three new members nominated by
the shareholder to Balda’s three-member Supervisory Board.
In a decision dated 5 June 2013, the Bad Oeynhausen Local Court had granted
the application submitted by Elector GmbH to be permitted to convene an
extraordinary General Meeting. Balda AG had responded by stating that in
view of the Annual General Meeting to be held this fall, it would appeal
the Court’s decision and submit an application to suspend the decision’s
enforceability.
Dr. Michael Naschke, Chairman of the Supervisory Board of Balda AG: ‘We
believe that the decision of Elector GmbH to convene the extraordinary
General Meeting in Berlin is anything but shareholder friendly. It makes it
much more difficult especially for the numerous private shareholders from
the region of Eastern Westphalia to attend the meeting. As of today,
Elector has not yet explained which strategic goals it pursues with its
investment in Balda. This makes it likely that Berlin has been chosen as
the venue of the extraordinary General Meeting to keep the attendance rate
of all other shareholders – who after all represent more than 70 percent of
the share capital – as low as possible in order to initiate a fundamental
change in Balda’s strategic orientation. Both the Management Board and the
Supervisory Board therefore believe that it is important that as many
shareholders as possible attend the General Meeting and use their right to
vote – regardless of the outcome of the appeal proceedings.’
Contact:
Frank Elsner / Frank Paschen
Frank Elsner Kommunikation für Unternehmen GmbH
Tel.: +49 – 54 04 – 91 92 0
Fax: +49 – 54 04 – 91 92 29
Mail: office@elsner-kommunikation.de
About Balda
Balda is a provider of first-class solutions for demanding, high-quality
applications in the fields of medical technology, optics, the automotive
industry and other specialist industrial sectors. The Group’s Balda Medical
and Balda Technical operating divisions have operations worldwide, and the
company maintains production facilities in Germany and the USA. The success
of Balda, which employs around 1,000 people, is based on the deployment of
leading-edge, cost-effective technologies, coupled with the trust-based
collaboration with customers. The Balda AG share (ISIN: DE0005215107) is
listed on the SDAX segment of Deutsche Börse.
www.balda-group.com
www.balda-medical-group.com
End of Corporate News
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11.06.2013 Dissemination of a Corporate News, transmitted by DGAP – a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP’s Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Balda AG
Bergkirchener Str. 228
32549 Bad Oeynhausen
Germany
Phone: +49 (0) 57 34 / 9 22-0
Fax: +49 (0) 57 34 / 9 22-2604
E-mail: info@Balda.de
Internet: www.balda.de
ISIN: DE0005215107
WKN: 521510
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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