ASM International N.V.
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Publicatie datum
31 mrt 2008 - 08:29
Statutaire naam
ASM International N.V.
Titel
ASM International Receives Shareholder AGM Agenda Proposal Updates on Current Business Announces Proposed New Supervisory Board Appointment
Bericht
BILTHOVEN, the Netherlands, March 31, 2008 -- ASM International N.V. (NASDAQ: ASMI and Euronext Amsterdam: ASM) said today that a shareholder, Hermes Focus Asset Management, has put forth proposals for inclusion in the agenda of the Company’s Annual General Meeting of Shareholders to be held on 21 May 2008. The proposals call for:
1) the dismissal of all (5) members of the Supervisory Board who are not up for re-election this year;
2) the dismissal of Chief Executive Officer, Chuck del Prado, as a member of the Management Board;
3) the appointment of David Wang, Nicholas Miller, and Seitaro Ishii as Supervisory Board members; and,
4) the appointment of Farhad Moghadam as a member of the Management Board.
As required by Dutch Law, the Company will add these items to the agenda of the AGM, scheduled for Wednesday, May 21, 2008 in the Netherlands.
Mr Paul van den Hoek, Chairman of the Supervisory Board, and Mr. Chuck del Prado, Chief Executive Officer of ASM International commented:
“We regret that Hermes has tabled these proposals which we do not believe are in the best interests of the company, its shareholders and other stakeholders. The Company has made significant progress over the past two years towards improving its Front-end profitability. We have met the commitments we made in 2006 for that year and for 2007, and the underlying operating profitability during this period has improved by around Euro 50 million.
The Company remains committed to achieving peer group operating margin performance for the Front-end in 2009, and will shortly be detailing the further steps that will be taken to achieve this goal.
The Company is strongly of the view that the valuation of ASM International does not adequately reflect these operating improvements. We are confident that steps already in train, and further planned initiatives, will improve the valuation. In addition, the Company is reviewing more aggressive return of capital strategies to help address the under
Datum laatste update: 23 februari 2026