The Annual General Meeting of Arpida Ltd (SWX: ARPN) has approved the proposals that were put forward by the Board of Directors.
A total of 73 shareholders were present at the meeting that took place in Basel today. 6,186,266 shares were represented, or 29.3% of the total number of shares issued (21,094,104).
The following items were on the agenda.
1. Approval of the 2007 Business Report, Company Accounts and Group Accounts The shareholders approved the 2007 Business Report, comprising the annual financial statements, the consolidated accounts and the 2007 Annual Report.
2. 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.
3. Compensation of Losses with General Reserves The shareholders approved the Board proposal to compensate the accumulated loss of CHF 27,079,529 with an equal amount of share premium in the general reserves.
4. Elections to the Board of Directors Elmar Schnee and Dr Khalid Islam were elected for a three year term of office.
Dr André Lamotte, Dr Hans Fünfschilling and Dr Matthias Staehelin were re-elected for a three-year term of office.
5. Re-election of the Auditors The shareholders re-elected PricewaterhouseCoopers Ltd as Auditors for 2008.
6. Creation of new Capital which can be used either as Authorised Capital or Conditional Capital (replacement of Article 3ter of the Articles of Association)The shareholders granted the Board of Directors the authorisation to create total new capital of a maximum of up to CHF 640,000 or 3.2 million Shares, either in the form of authorised or conditional capital.
7. Revision of the Articles of Association concerning Auditors The shareholders approved the changes to the Articles of Association, caused by the change in the Swiss Code of Obligations regarding auditors.
Dr André Lamotte, Chairman of the Board of Directors of Arpida Ltd, commented: "We had a very constructive and stimulating discussion with our shareholders. We're delighted that each of the Board's proposals was approved. Our shareholders' support remains an important pillar for our continuing progress."
A total of 73 shareholders were present at the meeting that took place in Basel today. 6,186,266 shares were represented, or 29.3% of the total number of shares issued (21,094,104).
The following items were on the agenda.
1. Approval of the 2007 Business Report, Company Accounts and Group Accounts The shareholders approved the 2007 Business Report, comprising the annual financial statements, the consolidated accounts and the 2007 Annual Report.
2. 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.
3. Compensation of Losses with General Reserves The shareholders approved the Board proposal to compensate the accumulated loss of CHF 27,079,529 with an equal amount of share premium in the general reserves.
4. Elections to the Board of Directors Elmar Schnee and Dr Khalid Islam were elected for a three year term of office.
Dr André Lamotte, Dr Hans Fünfschilling and Dr Matthias Staehelin were re-elected for a three-year term of office.
5. Re-election of the Auditors The shareholders re-elected PricewaterhouseCoopers Ltd as Auditors for 2008.
6. Creation of new Capital which can be used either as Authorised Capital or Conditional Capital (replacement of Article 3ter of the Articles of Association)The shareholders granted the Board of Directors the authorisation to create total new capital of a maximum of up to CHF 640,000 or 3.2 million Shares, either in the form of authorised or conditional capital.
7. Revision of the Articles of Association concerning Auditors The shareholders approved the changes to the Articles of Association, caused by the change in the Swiss Code of Obligations regarding auditors.
Dr André Lamotte, Chairman of the Board of Directors of Arpida Ltd, commented: "We had a very constructive and stimulating discussion with our shareholders. We're delighted that each of the Board's proposals was approved. Our shareholders' support remains an important pillar for our continuing progress."
