The Board of Directors of AFG Arbonia-Forster-Holding AG has decided unanimously to introduce a single class of share, as originally announced when the firm's capital was increased in April 2009. Consequently the Board will be proposing to shareholders at the annual general meeting of 16 April 2010 that they abolish the current structure of registered and bearer shares and replace it with a single class of share with the same par value for all shareholders. The introduction of a single class of share accords with the Board of Directors' commitment to secure AFG's position as a group of companies and a leading European construction supplies and technology business.
Having weighed up all the arguments, the Board has concluded that logistics and cost considerations justify proposing the single class of share at the next annual general meeting rather than, as previously communicated, holding a specially convened extraordinary general meeting for the purpose. The timings involved mean that such an EGM could only have been staged shortly before the scheduled AGM.
When the single class of share has been introduced, Edgar Oehler, Chairman of the Board of Directors and CEO, will remain the company's main shareholder with a stake of around 20%.
Press release Box-ID: 300572
Arbonia Management AG
Amriswilerstrasse 50
9320
Arbon,
Switzerland
http://www.arbonia.com/de
Contact
Mr
Felix
Bodmer
+41 71 447 45 51
Arbonia Management AG
AFG Arbonia-Forster-Holding AG, based in Arbon, Switzerland, has leading positions as an integrated construction industry supplier. Listed on the SIX Swiss Exchange, the company comprises five divisions: Heating Technology and Sanitary Equipment, Kitchens and Refrigeration, Windows and Doors, Steel Technology, and Surface Technology. The Group has production facilities in Switzerland, Germany, France, the United States, the Czech Republic, the U.K., and Slovakia.
AFG has an active presence in more than 70 countries worldwide, with roughly 50 of its own production and distribution companies, as well as representatives and partners. The Kermi, Arbonia, Prolux, ASCO Swiss, Aqualux, Forster Kitchens, Forster Refrigeration, Miele Kitchens, Warendorf, Piatti, EgoKiefer, RWD Schlatter, Slovaktual, Forster Precision Steel Tubes, Forster Profile Systems, and STI | Hartchrom brands are the backbone of AFG. With these brands, AFG has built leading positions in its home markets of Switzerland and Germany and is intensively pursuing entry and development of new markets in Eastern Europe, Russia, and the Middle and Far East. In 2008, AFG Arbonia-Forster-Holding AG employed some 6100 people and posted revenues of CHF 1,571 million and earnings before interest and taxes (EBIT) of CHF 86.6 million.
