At the annual general meeting of shareholders of Siegfried Holding AG (SIX: SFZN) of April 14, 2010 all motions submitted by the Board of Directors were approved, in particular the creation of limited capital as the basis for issuing mandatory convertible notes of up to 80 million Swiss francs. Furthermore, the restrictions on transferability of the company’s registered shares were deleted.
Siegfried’s Honorary Chairman, Bernard A. Siegfried, retired from the Board of Directors after serving the company for 40 years and was bid farewell. Andreas Casutt, a Zurich based commercial lawyer, was appointed to the Board. Malcolm Perkins, the representative of Camellia Plc. of the United Kingdom, declared his retirement from the Board effective April 15, 2010. The execution of the sale of a large part of the Siegfried stock owned by Camellia Plc. is scheduled for that day.
In his speech to Siegfried’s shareholders, Chairman Markus Altwegg stated that the current fiscal year had begun on a positive note: “In the first quarter we reported sales of 57.3 million Swiss francs representing a growth of 4.1 percent above prior year, and operating results are also developing positively”.
About Siegfried
Active in Life Science markets, the Siegfried Group is a global manufacturer of pharmaceutical products with production facilities located in Switzerland, Germany, Malta and the USA, Siegfried currently has approximately 850 employees and achieved annual sales of approx. CHF 283 million in 2009.
Siegfried is active in both the primary and secondary production of drugs. The company develops and manufactures active pharmaceutical ingredients for the research-based pharmaceutical industry as well as the corresponding intermediate steps and standard products, and provides development and production services for drugs in finished dosage forms.
Siegfried Holding AG is listed on the Swiss Exchange in Zurich (SWX: SFZN).
