The Annual General Meeting of Shareholders of Head N.V. was held today, Wednesday 24th May 2006 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 firstly increase the nominal value of the shares from Euro 0.20 to Euro 0.45 and to subsequently reduce the nominal value of the shares from Euro 0.45 to Euro 0.20.
As a consequence of the adoption of the resolutions, Head N.V. intends to make a payment of Euro 0.25 per share to its shareholders with an expected date of payment at 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.