Ad Hoc News Details
Management Board proposes share split and cancellation of treasury of shares to Annual Shareholders’ Meeting
Following the approval of the Supervisory Board, the Management Board of Mayr-Melnhof Karton AG will submit to the 13th Annual Shareholders’ Meeting on April 25, 2007 a two-for-one share split as well as the cancellation of the treasury shares for approval.
In preparation for the share split, the amount of share capital represented by each share shall be increased from currently EUR 7.27 to EUR 8.00 via a capital increase funded from the Company’s own resources without issuing new shares. Following the two-for-one split, the proportionate amount of the share capital will then be EUR 4.00 per share.
Subsequent to the share split, 2 million treasury shares shall be cancelled by way of a capital reduction.
Both, the share split and the cancellation of treasury stock shall be implemented in the course of the year 2007.