ABB AG annual shareholders meeting

This press release was issued by ABB AG, Baden, Switzerland, 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

Consent to the introduction of a single-class ABB share

On Thursday, March 18, 1999, the Annual General Meeting of shareholders of ABB AG, Baden, for fiscal 1998 was held in Wettingen, Switzerland. The number of shareholders attending was 1,431 representing 6,195,238 votes, or 38.3 percent of the voting capital.

There was clear support for the proposal of the Board of Directors to increase the dividend to CHF 41 (1998: CHF 40) per bearer share and to CHF 8.20 (1998: CHF 8) per registered share, payable on April 12, 1999.

The Annual General Meeting affirmatively acknowledged by a large majority the simplification of the Group structure through the introduction of a single-class share.

The Annual General Meeting reelected Robert A. Jeker to the Board of Directors up to the Annual General Meeting of shareholders in 2003.

At this year’s Annual General Meeting, the main speakers were Chairman of the Board Robert A. Jeker (Chairman’s report, results of ABB AG and introduction of a single-class share), and ABB President and CEO Göran Lindahl (business development and outlook of the ABB Group). The speeches, in the original German version, are available from the company on request.


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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    Contact us

    • Willi Zehnder
      ABB AG
      Tel. +41 56 205 77 00
      Fax + 41 56 222 10 26
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