The Annual General Meeting of Shareholders of Head N.V. was held on Wednesday 30th May 2007 in the Netherlands. Head NV is pleased to announce that all the proposed resolutions were approved by the shareholders, including the resolution to amend the Articles of Association to decrease the nominal value of the shares from Euro 0.20 to Euro 0.01.
As a consequence of the adoption of the resolutions, Head N.V intends to make a payment of Euro 0.19 per share to its shareholders, with an expected date of payment of the beginning of September. This payment is subject to Dutch Ministry and Dutch District Court approval, and based on no objections from our creditors.
Details concerning the record date, the payment date and the procedure will be published after the approval of the Dutch authorities.
It was also announced that Secretary William S. Cohen has resigned from the Supervisory Board of Head N.V. He was thanked for his very valuable contribution to the company during his six years of service. He will be greatly missed on our Supervisory Board. Head wishes Secretary Cohen all the best in his future endeavours.