Annual Shareholders Meeting of Jelmoli Holding Ltd of 18 June 2008
Corporate news announcement processed and transmitted by Hugin ASA. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- -------------- Agenda item requests from minority shareholder group In connection with its annual shareholders meeting which will take place on 18 June 2008 Jelmoli Holding Ltd. has received four agenda item requests from a minority shareholder group consisting of Franklin Mutual Advisers, LLC Fortelus Special Situations Master Fund Ltd., Sandelman Partners International LLP and Obrem Capital Management, LCC. The requests regard (i) split of bearer shares in the ratio of 1:5 and payment of an extra dividend of CHF 115 per registered share to all registered shareholders, (ii) share buy-back program in the aggregate of CHF 500 million by way of issuance of tradable put-options, (iii) appointment of a special expert (Sachverständiger) pursuant to article 731a (3) CO to carry out a valuation of the company and its assets and to conduct a review on the cash management and appointment of financial adviser by the company, and (iv) formation of a strategic group outside the board of directors. The board of directors of Jelmoli believes strongly in the merits of its Strategic Plan but recognises that shareholders should benefit from greater detail over the next few months. To that end before deciding on strategic matters associated with the requests from the minority group shareholders should wait to see the full details of the recently announced Strategic Plan. These details will be circulated to shareholders in due course, in line with the previously announced timetable, and will be the subject of an extraordinary shareholders meeting envisaged for Q3 2008. Accordingly, the Board of Directors considers the requests from the minority group premature and will recommend that shareholders vote against them at the forthcoming ordinary shareholders meeting in June. Furthermore, it has also decided not to accept the agenda item request regarding the formation of a strategic group outside the existing structure of the Board since corporate strategy falls within the scope of the Board's core competencies. Full details of the requests and the Board of Directors' responses will be provided in the invitation to the annual shareholders meeting which is planned to be published on 23 May 2008. Contact person Media: Dr. Jörg Neef, Hirzel. Neef. Schmid. Konsulenten +41 79 405 56 32, eMail: joerg.neef@konsulenten.ch Internet: www.jelmoliholding.ch / www.huginonline.ch/JEL WAP mobile: wap.huginonline.com (Press Releases Jelmoli) E-mail: info@jelmoliholding.ch --- End of Message --- Jelmoli -----------------------------------------Jelmoli über WAP:
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St. Annagasse 18 Zürich WKN: 851225; ISIN: CH0000668464; Index: SMCI, SPI, SPIEX; Listed: Main Market in SWX Swiss Exchange;
