Back to Press releasesVevey,Jun 1, 2006
At the April 2006 Annual General Meeting, Nestlé's Board of Directors asked shareholders for a mandate to modernize the Company's Articles of Association, pointing out that the procedure might be legally challenged. In the event, the Board's proposal was approved by 98.12% of the capital represented at the meeting.
Nestlé has now been informed that an individual shareholder is contesting the AGM's decision before the Vevey District Court. Nestlé remains convinced that updating the Articles of Association is in the best interest of all shareholders, and internal work on a modernized version will therefore continue.
Nestlé has no further comments to make at this stage.
Media: François-Xavier Perroud Tel.: +41-21-924 2596
Investors: Roddy Child-Villiers Tel.: +41-21-924 3622