Alternative Asset Management Firm's Request for AGM Agenda Change Cannot Be Satisfied
May 30, 2012 02:41 ET
RHJ International: Alternative Asset Management Firm's Request for AGM Agenda Change Cannot Be Satisfied
BRUSSELS, BELGIUM--(Marketwire - May 30, 2012) - On May 25, 2012, RHJ International (the "Company") received a request from a group of shareholders representing approximately 3.4% of the Company's share capital and led by Equilibria Capital Management Limited, an alternative asset management firm headquartered in Bermuda ("Equilibria"), as manager of EQC Global Opportunities Fund Ltd. (the latter being referred to hereinafter, together with the other shareholders, as the "Shareholders Group"), that a EUR 2.40 dividend item be placed on the agenda of the Company's annual general meeting called for June 19, 2012 (the "Agenda"), with a resolution to the effect that "an extraordinary one-time dividend of EUR 2.40 per common stock" be paid "on or before July 26, 2012 to the holders of common stock of record as of the close of business on July 12, 2012" (the "Proposed Agenda Item and Resolution"). On the same day, Equilibria subsequently made such request public.
On May 30, 2012, the Company informed Equilibria and the Shareholders Group that, due to the lack of distributable monies under Belgian company law, the Company could not fulfill the Shareholders Group's request that the Proposed Agenda Item and Resolution be added to the Agenda.
The Company's Board of Directors and executive management continue to be committed to enhancing shareholder value and reviewing opportunities in this respect.
About RHJ International:
RHJ International (Euronext: RHJI) is a limited liability company incorporated under the laws of Belgium, having its registered office at Avenue Louise 326, 1050 Brussels, Belgium. The company is transforming itself from a diversified industrial holding company into an active and dynamic financial services group. For further information visit: [ www.rhji.com ].
This press release contains, or may contain, certain forward-looking statements concerning the Company's operations, economic performance and financial condition. Such forward-looking statements are based on management's current expectations, estimates and projections and are subject to a number of assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The Company has no obligation to publicly update or release any revisions to these forward- looking statements to reflect events or circumstances after the date of this press release.
Full Press Release (PDF): [ http://hugin.info/135946/R/1615815/515173.pdf ]
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: RHJ International SA via Thomson Reuters ONE [HUG#1615815]