10 | 02 | 2005
General Meeting of Shareholders of HERMES SoftLab
Ljubljana, 10 February 2005 – The Extraordinary General Meeting of Shareholders of HERMES SoftLab was held in Ljubljana on Thursday, 10 February 2004. Shareholders unanimously adopted the resolutions on redemption of own shares from institutional investors and on the authorised capital.
At the initiative of the Managing Board and the Supervisory Board, shareholders have unanimously adopted the resolution authorising the company to purchase 3,845 own shares at the price of €286.0872 per share. It amounts to 1.039% of the company’s equity; the authorisation to the Managing Board was given for the period of 18 months. The proposed resolution was implementation of the company’s contractual obligations undertaken in the private issue of shares in June 2001. The payment and final implementation of the resolution on redemption of own shares is planned for May 2005 after the final audit of business results for the financial year 2004 and confirmation that the amount of the retained earnings is sufficient for payment of obligations.
The General Meeting of Shareholders also approved extension of the authorisation to the Managing Board regarding increasing capital of the company (authorised capital) for a total of 22,540 shares (6.09% of equity). The authorised capital was approved for the purpose of issuing shares in accordance with plans for remuneration of employees with stock options.