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Lenzing AG

EANS-News: Lenzing AG
Lenzing convenes extraordinary shareholders' meeting

Lenzing (euro adhoc) -

  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
Annual & Special Corporate Meetings
Lenzing convenes extraordinary shareholders'
meeting
Resolution proposals on share split, authorized and conditional 
capital
Lenzing AG invites its shareholders to an extraordinary shareholders'
meeting to be held on 10 December 2010 in Lenzing. The agenda 
includes resolution proposals on a seven-for-one share split, 
framework authorizations for the creation of authorized capital 
concerning new shares to be issued against cash or contribution in 
kind, and on conditional capital measures concerning convertible 
bonds to be issued, both with the possibility to exclude 
shareholders' subscription rights.
Peter Untersperger, CEO of Lenzing, comments: "The proposed share 
split is intended to fulfill a long-standing request of private 
investors to facilitate trading in Lenzing shares. The framework 
resolutions on authorized and conditional capital would give us a 
high degree of flexibility to support the company's future expansion 
plans. The option to issue new shares against contribution in kind 
would allow us to use Lenzing shares as acquisition currency, should 
the situation arise. And in the event of a convertible bond issue, 
debt could be converted into equity in the medium term.
Decisions on implementing these measures and the possible exclusion 
of shareholders' subscription rights will only be made based on 
defined projects. These decisions would always require the approval 
of the supervisory board as well as of the management board. Given 
the distinct volatility of the financial markets, it is sensible to 
convene an extraordinary general meeting now, in order to being able 
to exploit potentially arising market opportunities if required.
Lenzing's key shareholder, B & C Industrieholding GmbH, is generally 
supportive towards the resolution proposals published today. Michael 
Junghans, managing director of B & C Industrieholding GmbH, comments:
"We support the business plan and Lenzing's attractive growth 
strategy. We therefore intend to propose that, at the extraordinary 
general meeting, our corporate bodies approve Lenzing's request for 
framework authorization of capital measures to increase its financial
flexibility."
end of announcement                               euro adhoc

Further inquiry note:

Lenzing AG
Mag. Angelika Guldt
Tel.: +43 (0) 7672-701-2713
Fax: +43 (0) 07672-918-2713
mailto:a.guldt@lenzing.com

Branche: Chemicals
ISIN: AT0000644505
WKN: 852927
Index: WBI
Börsen: Berlin / free trade
Wien / official market

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