Electronics Production | December 20, 2006
Neways EGM agrees on<br>cancelling preference shares
During an Extraordinary General Meeting of Shareholders held today, the shareholders approved the cancellation of 3 million preference shares owned by Mr G.H. Meulensteen, original founder and former director of the company. The number of outstanding share will decrease by 3 million to 9,202,125.
Simultaneously with the decision to cancel the preference shares, the ordinary shares held by Mr Meulensteen, will be acquired by two other shareholders, mentioned in earlier reporting, VDL Beleggingen and F.P.B.L. Zweegers. Furthermore the two members of the Executive Board will both acquire 100,000 shares each. This one-off total transaction, which is in its parts inextricably bound up, will give Neways a more transparent capital structure.