Cimpor (Portugal): Cimpor EGM again votes against lifting voting rights restrictions

20 February 2001

"Holderbank" Financière Glaris Ltd. ("Holderbank") has noted that more than a third of shareholders at the extraordinary general meeting of Cimpor voted against lifting the restrictions on voting rights laid down in the company's articles of association. Consequently, the required quorum of two-thirds of the voting rights present at the meeting was not achieved. "Holderbank" and many other Cimpor shareholders voted in favour of lifting the restrictions, in line with Portuguese government's intention as stated in the privatisation law.


The result of the vote means that Cimpor still has no transparent shareholder structure and the privatisation of the remainder of the company is likely to be delayed further. "Holderbank" confirmed, however, that it still had a strategic interest in Cimpor. "Holderbank" also firmly believes that the Portuguese government continues to work towards a transparent solution that takes proper account of shareholder's interests. "Holderbank" will give its full support to these efforts.
With majority and minority interests in over 70 countries on all continents, "Holderbank" is one of the world's leading suppliers of cement, as well as aggregates (gravel and sand), concrete and construction-related services.

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