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SHAREHOLDERS OF ARES-SERONO APPROVE TWO CAPITAL INCREASES, 1:5 STOCK SPLIT AND DIVIDEND INCREASE-BOARD OF DIRECTORS APPOINTMENTS

SHAREHOLDERS OF ARES-SERONO APPROVE TWO CAPITAL INCREASES, 1:5 STOCK
 SPLIT AND DIVIDEND INCREASE-BOARD OF DIRECTORS APPOINTMENTS
 BOSTON, June 24 /PRNewswire/ -- At their annual meeting held June 22 in Lausanne, Switzerland the shareholders of Ares-Serono approved the proposals submitted by the board of directors, including:
 1) A capital increase by SFr. 8,727,750 with preferential subscription rights reserved to the holders of bearer shares in the ratio of one new share for six old bearer shares. The holders of registered shares have renounced to their subscription rights.
 2) A second capital increase by SFr. 42,701,700 as a result of the exercise of the rights to convert registered shares into bearer shares.
 The combined capital increases will bring Ares-Serono's share capital to SFr. 187,329,450 from SFr. 135,900,000.
 3) A 1:5 split of both categories of the company's shares whose par value will be reduced from SFr. 100 to SFr. 20 for registered shares and from SFr. 250 to SFr. 50 for bearer shares. The split will be made once the new Swiss company law will be enacted.
 The share capital will then include 2,753,260 restricted registered "A" shares of SFr. 20 par value and 2,645,285 bearer "B" shares of SFr. 50 par value.
 4) An increase dividend of SFr. 30.00 (SFr. 25.00 in 1991) per bearer share of SFr. 250 nominal value and SFr. 12.00 (SFr. 10.00) per registered share of SFr. 100 nominal value to be paid as of June 26, 1992.
 5) Shareholders re-elected as directors for one year Messrs Fabio Bertarelli, Ernesto Bertarelli, Siebren Erik Beelaerts van Blokland, John C. Hancock, Hans Thierstein and Milo Zachmann. Georges Muller, a Lausanne-based lawyer and professor of law at Lausanne University, was elected as a new member of the board.
 The directors have appointed Messrs Hans Thierstein, Ernesto Bertarelli, and Fabio Bertarelli, respectively, as chairman of the board, vice chairman and chief executive officer .
 The Ares-Serono Group is a leading Swiss developer and marketer of pharmaceutical and diagnostic products with executive headquarters in Geneva, Switzerland and operating headquarters in Boston. The group operates subsidiaries and manufacturing facilities in more than 20 countries. Shares of Ares-Serono S.A., the parent company of the group, are listed on the major Swiss stock exchanges.
 -0- 6/24/92
 /CONTACT: Gina Cella of Ares-Serono, 617-982-9000, ext.251/ CO: Ares-Serono ST: Massachusetts IN: MTC SU: DIV PER


TM -- NE004 -- 3182 06/24/92 09:55 EDT
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Publication:PR Newswire
Date:Jun 24, 1992
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