10th Annual General Meeting of Clariant Ltd; Clariant Shareholders Vote in Favor of the Resolutions.MUTTENZ Muttenz is a municipality with a population of approximately 17,000 in the canton of Basel-Country in Switzerland. It is located in the district of Arlesheim. , Switzerland -- The shareholders of Clariant Ltd, Muttenz/ Switzerland, have taken note of the 2004 business results at the Company's 10th Annual General Meeting in Basel and voted by overwhelming majorities in favor of upon the side of; favorable to; for the advantage of. See also: favor all resolutions proposed by the Board of Directors. They granted, among other things, discharge to the Board of Directors and the Board of Management and approved, instead of payment of a dividend, a repayment of the nominal value Nominal Value The stated value of an issued security that remains fixed, as opposed to its market value, which fluctuates. Notes: When referring to fixed-income securities, the nominal value is also the face value. of CHF CHF In currencies, this is the abbreviation for the Swiss Franc. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 0.25 of each registered share. The share capital of CHF 1,150,800,000 will therefore be reduced by CHF 57,540,000 to CHF 1,093,260,000, and the nominal value of each registered share will be reduced from CHF 5.00 by CHF 0.25 to CHF 4.75. The amount of CHF 0.25 in place of a dividend is expected to be paid to the shareholders in cash by the end of June 2005 after expiration EXPIRATION. Cessation; end. As, the expiration of, a lease, of a contract, or statute. 2. In general, the expiration of a contract puts an end to all the engagements of the parties, except to those which arise from the non- fulfillment of obligations created of the legally prescribed pre·scribe v. pre·scribed, pre·scrib·ing, pre·scribes v.tr. 1. To set down as a rule or guide; enjoin. See Synonyms at dictate. 2. To order the use of (a medicine or other treatment). notice to obligees. The available earnings to be carried forward of CHF 186,256,727 will be appropriated to the free reserves Free reserves Excess reserves minus member bank borrowings at the Fed. . The shareholders also approved the removal of the article from the Articles of Association (Statuten) that binds an acquirer to make a public purchase offer if acquiring more than 49 percent of the Company's shares. Therefore the threshold for making a public purchase offer will be reduced to the legal minimum of 33 1/3 percent. Robert Raeber, Chairman, and Professor Dieter Seebach Dieter Seebach is a German chemist known for his synthesis of biopolymers and dendrimers, and for his contributions to stereochemistry. He was born on 31 October 1937 in Karlsruhe. were re-elected as members of the Board of Directors. Dr Klaus Jenny, an industrialist of Glarus/Switzerland, Member of the Board of Directors of Baloise Holding and of non-listed companies, was elected as a new member of the Board of Directors for a term of office of four years following the death of Heinrich Bossard. CALENDAR OF CORPORATE EVENTS May 10, 2005 First Quarter 2005 Results August 4, 2005 First Half 2005 Results November 9, 2005 Nine Month 2005 Results Clariant - Exactly your chemistry. Clariant is a global leader in the field of specialty chemicals A Specialty chemical is a chemical produced for a specialized use. They are produced in lower volume than bulk chemicals, of which petrochemicals, made from oil feedstocks, are the most common. However, both are produced in a chemical plant. . Strong business relationships, commitment to outstanding service and wide-ranging application know-how make Clariant a preferred partner for its customers. Clariant, which is represented on five continents with over 100 group companies, employs about 25,000 people. Headquartered in Muttenz near Basel, it generated sales of around CHF 8.5 billion in 2004. Clariant's businesses are organized in five divisions: Textile, Leather & Paper Chemicals, Pigments & Additives, Functional Chemicals, Life Science Chemicals and Masterbatches. Clariant is committed to sustainable growth springing from its own innovative strength. Clariant's innovative products play a key role in its customers' manufacturing and treatment processes or else add value to their end products. The company's success is based on the know-how of its people and their ability to identify new customer needs at an early stage and to work together with customers to develop innovative, efficient solutions. www.clariant.com |
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