Clariant AG — AGM Information 2003

Apr 11, 2003

News Details

Ad-hoc | 11 April 2003 15:30

Clariant AG english

8th Annual General Meeting of Clariant Ltd Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– 8th Annual General Meeting of Clariant Ltd Clariant shareholders approve all proposals Muttenz/Switzerland, April 11, 2003 – The shareholders attending the 8th Annual General Meeting of Clariant Ltd in the Congress Center of Messe Basel approved the Annual Report. They also endorsed the motion to offset the major portion of the loss carried forward with the non-statutory reserves. The shareholders granted the Board of Directors and the Management Board discharge. A total of 655 shareholders attended the 8th Annual General Meeting of Clariant Ltd, representing (directly or indirectly) 43’261’008 or 28.2 % of the total number of 153,440,000 shares. In his welcoming address, Chairman of the Board Robert Raeber expressed his regret about the unsatisfactory result posted in the past business year. He was confident, however, that the measures that Clariant has taken in recent weeks would soon put it back on the track to success. Clariant CEO Roland Lösser stressed his determination to regain shareholders’ confidence through greater transparency and a policy of open communication. Priority will be given to defining and implementing a clear-cut strategy and to improving the results. CEO Lösser also identified the goals of ensuring liquidity, reducing net debt and strengthening the equity base. As Lösser further explained, business in the first quarter of 2003 has developed in accordance with expectations. The AGM furthermore approved an amendment to the Articles of Association, stipulating that in future the Board of Directors shall consist of a minimum of six members and a maximum of ten. Following the resignation of Reinhard Handte, Stephen Hannam has now also announced his resignation. Both departing members were thanked for their services. Tony Reis was re-elected for a further four-year term of office. As Board Chairman Robert Raeber also explained, suitable new candidates would be recommended for election to the Board of Directors at the 2004 AGM. Your contacts at Clariant Media Relations Christoph Hafner Tel. +41 61 469 67 46 Fax +41 61 469 69 99 Investor Relations Tel. +41 61 469 67 48 Fax +41 61 469 67 67 Iris Welten Tel. +41 61 469 67 47 Holger Schimanke Tel. +41 61 469 67 45 Daniel Leuthardt Tel. +41 61 469 67 49 end of ad-hoc-announcement (c)DGAP 11.04.2003 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: Clariant – Exactly your chemistry. Based at Muttenz near Basel, Switzerland, Clariant is a global leader in the field of fine and specialty chemicals. Some 28 000 employees in more than 100 group companies on five continents generate annual sales of over CHF 9 billion. Clariant is divided into five Divisions: Textile, Leather & Paper Chemicals, Pigments & Additives, Masterbatches, Functional Chemicals, Life Science & Electronic Chemicals. The Divisions have operational autonomy within the overall group strategy, and are entirely responsible for their own business success. Clariant’s innovative products play a decisive role in the customers’ manufacturing and treatment processes or add value to their end-products. The company’s success is based on the know-how of its staff, and on their ability to identify new customer needs at an early stage and to work together with customers to find innovative, efficient solutions. Clariant is committed to sustainable growth springing from its own innovative strength. Our objective is to achieve 30% of sales with products and services that are no more than five years old. http://www.clariant.com ——————————————————————————– WKN: 895929; ISIN: CH0012142631; Index: SMI Listed: Amtlicher Markt in Frankfurt (General Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, München und Stuttgart; Schweizer Börse (Hauptsegment); SEAQ- Handel in London 111530 Apr 03