09 May 2007 General Meeting of shareholders
– Gross dividend of € 2.50 per share approved
– Lady Judge appointed as independent director
Today Bekaert’s ordinary general meeting of shareholders took place, with Baron Buysse, Chairman of the Board of Directors, in the chair.
The meeting approved the balance sheet and the income statement as at 31 December 2006, as submitted by the Board of Directors, including the distribution of a gross dividend of € 2.50 per share. This corresponds to a net dividend per share of € 1.875. The net dividend on shares with VVPR strip, giving entitlement to a reduced withholding tax of 15%, thus amounts to € 2.125 per share. The dividend will be payable as from 16 May 2007 onwards upon presentation of dividend coupon no.8 at the following banks: ING Belgium, Bank Degroof, Fortis Bank, KBC Bank and Dexia Bank in Belgium, Société Générale in France, ABN-AMRO Bank in the Netherlands and UBS in Switzerland.
The meeting discharged the Directors and the Statutory Auditor for the performance of their duties during the financial year 2006.
The meeting decided to decrease the number of Directors from fifteen to fourteen. Baron Georges Jacobs and Dr. Pol Bamelis leave the Board of Directors as they have reached the retirement age set by the bylaws. In his address, Baron Buysse thanked both Directors for their longstanding commitment and expertise in promoting the interests of the shareholders.
The meeting re-appointed Messrs Roger Dalle, François de Visscher, Bernard van de Walle de Ghelcke and Baudouin Velge as Directors for a term of three years, expiring after the ordinary general meeting in 2010. Sir Anthony Galsworthy was re-appointed for the same period as independent Director within the meaning of Article 524 of the Companies Code.
The meeting also appointed Lady Judge as independent Director within the meaning of Article 524 of the Companies Code for the same term of 3 years.
The meeting re-appointed Deloitte Bedrijfsrevisoren as Statutory Auditor for a term of three years.
The meeting also approved the remuneration of the Directors and the Statutory Auditor.
Today the extraordinary general meeting of shareholders took place as well. The meeting extended the authority granted to the Board of Directors to purchase shares of the Company. Under the previous authority, until now, 1 747 316 shares were repurchased – at an average share price of € 93.30 – and subsequently were or will be cancelled. The Articles of Association were adapted to the new legislation concerning non-material securities and the abolition of bearer securities.