EANS-News: Balda AG
Balda AG: Shareholder Octavian suffers Loss at Court
06.02.2012 – 09:24
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Company Information Bad Oeynhausen (euro adhoc) - - OLG Hamm confirms Independence of Supervisory Board Chairman Dr. Michael Naschke Bad Oeynhausen/Hamm, 6 February 2012 - Octavian Special Master Fund L.P., a U.S.-American hedge funds, failed in court with the attempt to have the supervisory board chairman Dr. Michael Naschke be dismissed as chairman of the upcoming extraordinary general meeting. The Higher Regional Court (OLG) Hamm confirmed the decision of the court of first instance, the Local Court Bad Oeynhausen, and dismissed the motion (file number I-27 W 21/12). The decision is final. The OLG Hamm ascertained that there is no reason for any doubts "that the chairman of the supervisory board will conduct the meeting dutifully and without any impairment of the rights of the petitioner (i.e. Octavian, n.b.) or any other shareholders." Also the fact that the supervisory board chairman adopted "certain positions" relating to the agenda items of the meeting, did not allow for the conclusion Dr. Naschke would not act as independent and neutral chairman of the meeting. The extraordinary general meeting takes place by request of Octavian. The hedge funds, which notified to hold 5.22 % of the voting rights in Balda AG, demands the dismissal of the current three supervisory board members and proposes its own three candidates. Company profile of Balda AG The Balda Group develops and produces complete plastic assemblies, electronic products and products for the medical technology industry. Balda´s customers are leading companies in the pharmaceutical, medical technology, consumer electronics electronic communications and mobile phone markets. The Group is internationally positioned with production sites in Germany and Malaysia. A subsidiary in the USA operates in product design and development. Within the scope of its shareholding in a leading touchscreen manufacturer in China, Balda is participating in the dynamic development of the touchscreen displays market. This Corporate News announcement contains forward-looking statements, which are based on the current expectations of Balda´s management. They therefore contain a range of risks and uncertainties because they relate to future 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 will neither revise these forward-looking statements nor correct them in the event of any unexpected development, unless there is a legal obligation to do so. This Corporate News announcement represents neither an offer to buy shares nor an invitation to submit an offer to buy shares in the United States or any other country. The shares in Balda AG (the "shares") may not be offered or sold in the United States or to or for the account of U.S. persons (as defined in Regulation S of the U.S. Securities Act of 1933, in its current version (the "Securities Act")), unless they are registered or are exempt from registration under the Securities Act. The shares have not been and will not be registered under the Securities Act. Further inquiry note: Frank Elsner 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 end of announcement euro adhoc -------------------------------------------------------------------------------- company: Balda AG Bergkirchener Str. 228 D-32549 Bad Oeynhausen phone: +49 (0) 5734 9 22-0 FAX: +49 (0) 5734 922-2747 mail: info@balda.de WWW: http://www.balda.de sector: Semiconductors & active components ISIN: DE0005215107 indexes: CDAX, Prime All Share stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart, regulated dealing/prime standard: Frankfurt language: English