P +41 58 787 25 41
Please find below all Forbo media releases listed by year.
Eglisau / Zurich, March 24, 2005
At the extraordinary General Assembly of Forbo Holding AG held in Zurich today, the shareholders approved a change of the Group’s articles of association which re-defines the minimum price provisions in relation to a compulsory offer. The abolition of the restriction of voting rights was also approved. The newly appointed members to the Board of Directors are Dr. Peter Altorfer, Dr. Albert Gnägi, Hans Beat Gürtler, Dr. Rudolf Huber and Michael Pieper. During a session after the Assembly , the Board of Directors of Forbo Holding AG elected Dr. Albert Gnägi as its new President and decided that This E. Schneider will resume the role of CEO and Delegate of the Board of Directors with immediate effect and under the conditions previously in force.
1275448 registered shares or 47.01 % of the issued share capital were represented at the General Assembly held in Zurich today.
A majority voted in favour of a change of Article 27 of the articles of association which now stipulates that in case of a public purchase offer the price must at least correspond with the current share price and must, at the same time, not be lower than the highest price that the bidder paid for the company’s shares during the past 12 months.
The change of the restriction of voting rights proposed by Michael Pieper was approved by nearly 100 percent of the shares represented. Thus the shareholders will now be entitled to vote on an equal basis with their capital interests in the company.
With a clear majority Dr. Peter Altorfer, Dr. Albert Gnägi, Hans-Beat Gürtler, Dr. Rudolf Huber, and Michael Pieper were appointed new members of the Board of Directors.
New President of the Board of Directors; stability in the operative leadership ensured
During its meeting yesterday, immediately after the General Assembly, the new Board of Directors constituted itself and elected Dr. Albert Gnägi its President, Michael Pieper its Vice-President, and This E. Schneider its Delegate. Besides, the Board of Directors decided to again appoint This E. Schneider its CEO with immediate effect. With these moves the Board of Directors will ensure the stability in the Group’s operative leadership and continue the measures aimed at improving profits initiated last year. „I am glad that we could convince Mr Schneider to again assume this role“, says Dr. Albert Gnägi, Chairman of the Board of Directors. „As such Forbo has again a complete leadership team in order to accelerate the necessary restructuring moves and steps taken to improve the Group’s profitability“.
Forbo is a leading producer of floor coverings, adhesives and beltings. The company employs some 5,500 people and has international network of production companies and sales organizations in 31 countries. Forbo’s Head office is in Eglisau / Switzerland. Net sales in 2004 were CHF 1,622.3 million. The holding company - Forbo Holding AG- is listed at the SWX Swiss Exchange (security number 354151, ISIN CH0003541510, Bloomberg FORN SW, Reuters FORN.S). Further information can be found at www.forbo.com.
Head of Corporate Communications
Tel: + 41 1 868 25 69
Fax: + 41 1 868 35 69