Panalpina to hold extraordinary general meeting
Panalpina has been requested by its shareholder Ernst Göhner Foundation (EGF) to implement the one share – one vote standard at an extraordinary shareholders' meeting to be held prior to the annual general meeting.
The EGH would like to amend the articles of association of Panalpina by lifting the 5% registration restriction and the 5% voting restriction. The company's board of directors has complied with the request for an extraordinary AGM, and will issue a formal invitation to the meeting in due course.
Since the Basel (Switzerland)-based company’s IPO in 2005, EGF, with all its shares, was always admitted to all shareholders' meetings on the basis that the 5% voting restriction imposed by the articles of association does not apply to the EGF shares because the foundation held the shares prior to the introduction of the voting restriction (grandfathering). (mw)