DGAP-News: Balda AG: Elector GmbH's attempt to prohibit active contact with shareholders fails in court
(firmenpresse) - DGAP-News: Balda AG / Key word(s): AGM/EGM/Legal Matter
Balda AG: Elector GmbH's attempt to prohibit active contact with
shareholders fails in court
14.08.2013 / 17:14
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- Company permitted to hire service provider before extraordinary General
Meeting
Bielefeld, 14 August 2013 - Balda AG today announced that it is permitted
to hire a service provider in advance of the upcoming extraordinary General
Meeting to inform the Company's investors about the shareholder meeting and
encourage them to exercise their voting rights. This decision was reached
by Bielefeld Regional Court yesterday after a hearing; a motion by
shareholder Elector GmbH requesting a preliminary injunction has thus been
rejected.
As has been reported, Elector GmbH has convened another extraordinary
General Meeting on 4/5 September 2013 in Berlin after the first
extraordinary General Meeting on 18 July was unable to pass any resolutions
due to a formal defect caused by the convening shareholder Elector. The
agenda again centers around the complete replacement of all Supervisory
Board members of Balda AG with representatives of the shareholder, which
holds less than 30% of the share capital.
Hiring a service provider to contact shareholders on behalf of the Company
and to inform them of the pending General Meeting is a practice that has
been followed by numerous stock corporations in Germany for years now. The
Regional Court determined in its decision yesterday that this does not
constitute - as alleged by Elector - the impermissible exercise of
influence by management over shareholders.
The Management and Supervisory Boards of Balda AG see the failed petition
by Elector GmbH as a repeated attempt to keep attendance at the
extraordinary General Meeting as low as possible to increase its own
chances in voting on resolutions. An indication of this is the renewed
selection of Berlin as the location of the meeting, although the Company's
General Meetings normally take place in eastern Westphalia, home to most of
its shareholders.
In addition, Elector's motion to prevent Balda AG from utilizing the
existing authorized capital while excluding the subscription rights of
shareholders before the extraordinary General Meeting by preliminary
injunction also failed. Balda considers this motion to be an unacceptable
attempt by Elector GmbH to issue direct instructions for action to the
governing bodies of the Company. Apart from this, there is no current plan
to use the authorized capital.
Contact:
Frank Elsner
Frank Elsner Kommunikation für Unternehmen GmbH
Tel.: +49 - 54 04 - 91 92 0
Fax: +49 - 54 04 - 91 92 29
Mail: office(at)elsner-kommunikation.de
About Balda
Balda is a provider of first-class solutions for demanding, high-quality
applications in the fields of medical technology, optics, the automotive
industry and other specialist industrial sectors. The Group's Balda Medical
and Balda Technical operating divisions have operations worldwide, and the
company maintains production facilities in Germany and the USA. The success
of Balda, which employs around 1,000 people, is based on the deployment of
leading-edge, cost-effective technologies, coupled with the trust-based
collaboration with customers. The Balda AG share (ISIN: DE0005215107) is
listed on the SDAX segment of Deutsche Börse. The financial year ends on 30
June.
www.balda-group.com
www.balda-medical-group.com
End of Corporate News
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14.08.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Balda AG
Bergkirchener Str. 228
32549 Bad Oeynhausen
Germany
Phone: +49 (0) 57 34 / 9 22-0
Fax: +49 (0) 57 34 / 9 22-2604
E-mail: info(at)Balda.de
Internet: www.balda.de
ISIN: DE0005215107
WKN: 521510
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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