Bloomberg News

Balda Agrees to Hold Extraordinary Shareholder Meeting on Feb. 8

December 29, 2011

Dec. 29 (Bloomberg) -- Balda AG’s management board agreed to convene an extraordinary shareholder meeting on Feb. 8 after Octavian Advisors LP requested it through one of its units with the aim of substituting the supervisory board members, the board said in a statement today.

The supervisory board “has always acted and will always act solely in the interest of the company,” the panel said in the statement. Conversely, it said that “candidates proposed by Octavian would lead to severe conflicts of interests and would strongly deteriorate the Company´s corporate governance.”

Link to Statement: NSN LWZ93V3PR6RL <GO>

--Editor: John Simpson

To contact the reporter on this story: Cornelius Rahn in Frankfurt at crahn2@bloomberg.net

To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net


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