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Miles
Km80.5

   

Arpida Annual General Meeting of Shareholders Approves All Board Proposals


5/7/2009 11:16:34 AM

REINACH, Switzerland, May 7 /PRNewswire-FirstCall/ -- The Annual General Meeting of Arpida Ltd (SIX: ARPN) has approved the proposals that were put forward by the Board of Directors.

A total of 90 shareholders were present at the meeting that took place in Reinach today. 4,629,711 shares were represented, or 21.9% of the total number of shares issued (21,094,104).

The following items were on the agenda.

1. Information on strategic options

There was a lively discussion regarding the possible strategic scenarios as presented by the CEO, Dr Jurgen Raths. An overview of these scenarios was already published in a press release earlier today. Shareholders provided valuable comments that will be incorporated in the further strategic evaluation. No decision was taken yet. The Board of Directors assured the shareholders that they will be duly involved in any major strategic decision.

2. Approval of the 2008 Business Report, Company Accounts and Group Accounts

The shareholders approved the 2008 Business Report, comprising the annual financial statements, the consolidated accounts and the 2008 Annual Report.

3. Discharge of the Board of Directors and of the Senior Executive Officers

The shareholders granted discharge to the Board of Directors and to the Senior Executive Officers for their actions.

4. Compensation of Losses with General Reserves

The shareholders approved the Board proposal to compensate the accumulated loss of CHF 189,591,477 with an equal amount of share premium in the general reserves.

5. Re-election of the Auditors

The shareholders re-elected PricewaterhouseCoopers Ltd as Auditors for 2009.

This press release contains specific forward-looking statements, e.g. statements including terms like believe, assume, expect or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the company and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties readers should not place undue reliance on forward-looking statements. The company assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.

CONTACT: Contacts: Dr Jurgen Raths, President and CEO, Tel.:
+41-61-417-96-60; Harry Welten, MBA, CFO and Senior Vice President, Tel.:
+41-61-417-96-65; Paul Verbraeken, Head of Corporate Communications, Tel.:
+41-61-417-96-83



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