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Please find below all Forbo media releases listed by year.
Eglisau, April 30, 2003
At the 75th ordinary Annual General Meeting in Zurich on April 29, 2003, the shareholders of Forbo Holding approved with a large majority all of the proposals put forward by the Board of Directors. They voted in favor of a cash distribution equal to the previous year's dividend of CHF 22 per registered share by way of a nominal value reduction. 260 shareholders took part in the Annual General Meeting.
The shareholders voted in favor of a cash distribution equal to the previous year's dividend of CHF 22 per registered share by way of a nominal value reduction. With this move, the company wants to both underline the continuity of its distribution policy and to offer the Forbo shareholders a tax favorable form of payment. This is also a clear sign at the occasion of the Group's 75th anniversary. The cash distribution yield is more than 5 percent at the current share price.
Dr. Paul Tanos and Prof. Dr. iur. Rolf Watter, members of the Board of Directors, were re-elected for another term of four years.
Karl Janjöri, Chairman of the Board of Directors, explained the important strategic decisions that had been implemented in the past three years. "In this context I would like to especially mention the focus on the three core activities of floorings, adhesives and beltings. With the acquisition of the Swift adhesives activities, we made a strategic move to reach a global market position also in the adhesives business."
CEO Werner Kummer informed the shareholders on the business development in the past year. Kummer was cautious as to the business trend in the current year. However, he expects growing sales as a result of Swift. "We want to reach attractive results and continue to strengthen our balance sheet also in 2003", the Group CEO said.
Forbo is a global manufacturer of floorings, adhesives and beltings. The Group employs some 5700 people worldwide and has an international network of 32 production companies and 60 marketing organizations in 30 countries.
Head of Corporate Communications
Tel: + 41 1 868 25 69
Fax: + 41 1 868 35 69
Chief Financial Officer
Tel: + 41 1 868 25 25
Fax: + 41 1 868 25 26