Basler Shareholders Confirm Growth Financing

Konrad Ellegast re-appointed to the Supervisory Board

Ahrensburg, (PresseBox) - At yesterday’s general shareholders’ meeting in Hamburg, Basler’s shareholders set the course for the further financing of the company’s planned growth. 99% voted in favour of authorising the Management Board to extend the convertible bond (close to three million Euro) issued in 2004 until 31 July 2009. “This resolution enables us to optimise financing of the investments necessary for further growth”, confirmed Basler’s Chief Financial Officer Peter Krumhoff after the meeting.

The resolutions passed in respect of the other agenda items were also to the management’s satisfaction. Mr. Konrad Ellegast, Ötjendorf, was re-appointed to the Supervisory Board. As deputy chairman, the former long-standing CEO of Phoenix AG has been a member of the board since 2004. He holds further mandates on the Technotrans AG Supervisory Board and on the Advisory Board of C. Mackprang Jr. GmbH & Co., Hamburg.

Significant majorities granted discharge for the previous financial year to both the Management Board and the Supervisory Board (99% and 98% respectively). Besides an amendment to the articles of association, a resolution was passed pertaining to the acquisition of own shares and BDO Deutsche Warentreuhand AG, Hamburg, was appointed auditor for the financial year 2007.

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