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of ABB (European engineering firm) purported to have sold equipment to N. Korea when I noticed the language that the company's news release is not to be made available in the USA?? WTF?:
ABB AB annual shareholders meeting This press release was issued by ABB AB, Västerås, Sweden, following their Annual General Meeting for fiscal 1998 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN ABB AB shareholders support creation of single ABB share
On Thursday March 18, 1999, the Annual General Meeting of shareholders of ABB AB for fiscal year 1998 was held in Västerås, Sweden. More than 900 shareholders, representing 43.11 percent of the share capital and 46.38 per cent of the voting rights, participated in the Annual General Meeting.
The Annual General Meeting supported the creation of a single ABB share. The shareholders in ABB AB and ABB AG will be invited to exchange their existing shares for new shares in ABB Ltd, the new holding company of the Group. The exchange offer is expected to start after March 26 1999 and concluded by the end of June 1999.
The Annual General Meeting approved the proposed cash dividend of SEK 2.18 per share (1997: SEK 2.10). The record date for payment of the dividend is Thursday, April 1, 1999 and the dividend will be distributed from VPC (The Swedish Securities Register Center) on Monday, April 12, 1999.
Percy Barnevik, Sweden, Donald H. Rumsfeld, U.S.A. and Peter D. Sutherland, Ireland, were re-elected as members of the Board of Directors. Björn Svedberg decided not to stand for re-election. Mr. Jacob Wallenberg, Sweden, was elected as a member of the Board. At the statutory meeting of the Board after the Annual General Meeting, Percy Barnevik was elected as Chairman.
Shareholders approved the proposal that the above-mentioned Board Members of ABB AB be elected to the Board of Directors of ABB Asea Brown Boveri Ltd along with the proposed members of the Board of Directors of ABB AG, namely Dr. Gerhard Cromme, Jürgen Dormann, Robert A. Jeker, and Edwin Somm as well as Yotaro Kobayashi, Agostino Rocca, Martin Ebner and Göran Lindahl.
Mr. Gunnar Widhagen and Mr. Carl-Gustaf Gutberg, both Authorized Public Accountants, were re-elected as Auditors and Mr. Torbjörn Hanson and Mr. Jan Birgersson, both Authorized Public Accountants, were re-elected as Deputy Auditors.
A complete report from ABB AB's Annual General Meeting will be available from the beginning of May 1999. The interim report of ABB AB for the first quarter of 1999 will be issued on Wednesday, April 21, 1999.
THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA, ITS TERRITORIES OR POSESSIONS. SECURITIES OF ABB LTD HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE LAWS OF ANY STATE, AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO U.S. PERSONS, EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE STATE LAWS.
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