Company Annoucement no 2009-05 26 March 2009
Annual general meeting and election
of Directors
Today, William Demant Holding A/S held its annual general meeting at the
Company's premises, Kongebakken 9, 2765 Smørum, Denmark. The Board's proposals
were approved in full by the general meeting, implying among others the
following decisions:
The year's profits, DKK 970 million, will be transferred to the Company's
reserves.
Mr Lars Nørby Johansen, Mr Peter Foss and Mr Niels B. Christiansen were
re-elected Directors of the Board and Mr Thomas Hofman-Bang, President and CEO
of NKT Holding A/S, was elected new Director of the Board. Mr Michael Pram
Rasmussen has chosen not to accept re-election to the Board.
The Company's auditors, Deloitte Statsautoriseret Revisionsaktieselskab, were
re-elected.
A provision will be introduced into the Company's Articles of Association
(Article 15) to the effect that the Company can communicate electronically with
the shareholders, e.g. by e-mail, by e-box (online mail box) and via the
Company's website, www. demant.com. However, this does not preclude the Company
from communicating with its shareholders by ordinary mail in certain instances.
The existing provision in the Company's Articles of Association (Article 9.5)
relating to shareholders'
issuing of instruments of proxy was clarified to the
effect that instruments of proxy issued to the Company's Board of Directors
shall be valid for one particular general meeting only, the agenda for which
must be known in advance, and that instruments of proxy issued to a proxy shall
be valid for one year only.
Until the next ordinary general meeting, the Board was authorised to let the
Company acquire treasury shares with a nominal value of up to 10% of the share
capital.
At the general meeting, the Company's Chairman, Mr Lars Nørby Johansen, gave an
account of the difficult market conditions and the Group's breakthrough within
wireless technology. He said among other things:
"I am very proud that with our wireless technology, we have been at the
forefront in moving the boundaries of what is possible for hearing-impaired
people and that in many ways they can now focus on the possibilities rather than
the constraints. I am proud that we have taken the lead in the wireless sphere
which undoubtedly represents the greatest technological shift in our line of
business since the transition from analogue to digital hearing aids more than a
decade ago. We are convinced that in the next few years, the winners and losers
of the hearing aid industry will be defined in terms of their ability to master
wireless technology."
After the general meeting, the Board of Directors elected Mr Lars Nørby Johansen
Chairman and Mr Peter Foss Deputy Chairman of the Board.
The Chairman's report in full and webcast from the general meeting are available
on the Company's website.
Further information:
Niels Jacobsen, President & CEO
Phone +45 39 17 71 00
www.demant.com
