Electronics Production | December 14, 2006
Neways cancels preference shares
Neways Electronics International announced that it has fulfilled the wish of Mr G.H. Meulensteen, original founder and former director of the company, of the cancellation of all 3 million currently outstanding preference shares which are all owned by him.
These outstanding preference shares have a nominal value of EUR 0.50 per share and have been partly paid-up to 25%. To this end, the company will call an extraordinary general meeting of shareholders in the near future. Simultaneously with the decision to cancel the preference shares, all ordinary shares held by Mr Meulensteen, will be acquired by two other shareholders, VDL Beleggingen and F.P.B.L. Zweegers. This one-off total transaction which in its parts is inextricably bound up, will give Neways a more transparent capital structure. The Executive Board and Supervisory Board therefore support the transaction. The number of outstanding voting shares will decrease by 3 million to 9,202,125.