Glattbrugg , Zurich, Switzerland
Esmertec(TM) (SWX: ESMN), a leading provider of world-class software solutions and services for the telecommunication, interactive multimedia and consumer electronics markets, announces that shareholders approved all proposals put forward at its first Annual General Meeting (AGM). 33 shareholders participated at the AGM, representing 72.41% of the voting share.
Esmertec's shareholders accepted the 2005 annual report and the Group and Parent Company Accounts for the Financial Year 2005. They granted discharge to the members of the Board of Directors and the Executive Management for the financial year 2005. Shareholders also voted that the board members, Hans-Ulrich Muller, Roland Manger and Jean Schmitt, are re-elected to the Board of Directors for one year.
KPMG Klynveld Peat Marwich Goerdeler SA was also re-elected for a further year as the Company's statutory and group auditors.
The increase in conditional share capital was also approved to enable the Company to grant stock options to employees, board members, and members of the advisory board, as well as to have a sufficient number of shares transferable for the conversion of convertible notes.
Shareholders have also approved the increase in authorized share capital to provide the Board the flexibility to create shares at short notice for acquisitions or partnerships, if needed.
Jean-Claude Martinez, CEO of Esmertec, and Deborah Choate, CFO of Esmertec also provided at the AGM a review of the key events and challenges the Company faced in 2005 and in the first months of 2006 as well as an overview of the strategy going forward.
Esmertec is a trademark of Esmertec AG.
About Esmertec
Esmertec is a leading provider of world-class software solutions and services for telecommunication, interactive multimedia, and consumer electronics markets. Engineered for smallness and mass consumption, Esmertec's wireless Java ME solutions, mobile applications and object-oriented software platform (OSVM(TM)) are developed to extract maximum performance from hardware environments. Esmertec Cellicium's premier mobile browsing solutions, applications and services are designed to bring interactive mobile services to mobile operators. Founded in 1999, Esmertec is a global company headquartered in Zurich-Switzerland with subsidiaries located in China, Denmark, France, Japan, South Korea, the UK and the USA, and representative offices in Taiwan and South Korea.
www.esmertec.com
CONTACT: Esmertec AG Investor Relations: Deborah Choate +41 44 823 8954 dchoate@esmertec.com or Media: Leng Stricker-Wong +41 44 823 8918 lstricker@esmertec.com
Source: Business Wire (Business Wire India)