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Voestalpine AG - Resolutions of AGM

Published: July 8, 2010; 00:00 · (Vindobona)

Voestalpine AG Annual General Meeting approves dividend and share repurchase program.

Voestalpine AG - Resolutions of AGM / Picture: © Vindobona.org

- Dividend of €0.50 ($0.63) per share for the 2009/10 business year.
- Management Board authorized to repurchase the company´s own shares.
- Amendment of articles of association.

At the 18th ordinary Annual General Meeting of voestalpine AG, a resolution was adopted today (Wednesday) to pay a dividend of €0.50 ($0.63) per dividend-bearing share for the 2009/10 business year. The shareholders followed the proposal in this respect made by the Management and Supervisory Boards. The dividend will be distributed starting as of July 19.

The Annual General Meeting also authorized the Management Board to repurchase the company's own shares up to a limit of 10 per cent of voestalpine AG´s share capital. This is a renewal of the repurchase authorization already granted in 2008, which is intended inter alia to serve employee shareholding schemes, the stock option program as well as to serve convertible bonds the Management Board was authorized to issue by the 2009 Annual General Meeting. The term of the authorization to repurchase the company´s own shares is 30 months. In connection with this, the Management Board of voestalpine AG was also authorized to redeem the company´s own shares up to a maximum of 10 percent of voestalpine AG´s share capital and thus to reduce the company´s share capital to such extent.

In addition, the Annual General Meeting adopted resolutions amending the company´s articles of association, primarily to adapt them to changes in legislation, particularly to the Austrian Stock Corporation Amendment Act 2009.

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