PROPOSED AMENDMENTS OF ARTICLES OF ASSOCIATION
Rotterdam, May 18, 2018 - Hunter Douglas, the world market leader in window coverings (Luxaflex®) and a major manufacturer of architectural products, proposes amendments to the Articles of Association.
The proposed amendments to the Articles of Association announced in the Agenda to the Annual General Meeting conform the Articles to the changes in corporate law in Curaçao which came into effect on 1 January 2012. The most significant change in Curaçao law was the elimination of mandatory stated (nominal) capital, and relaxation of rules on capital maintenance.
In addition to such conforming changes, as well as changes confirming that hedging instruments that the Company has used from time to time are within its corporate purpose, there is also clarification relating to other objections by banks as to the authority of the CFO to sign bank contracts without prior Board authorization. The proposed amendment in Art. 12 of the Articles clarifies that holding 90% of nominal capital continues to be the threshold for a mandatory buyout. That threshold is currently met by the founding Family, but the Family has advised the Company that it has no present intention of initiating the mandatory buyout procedure.
The draft text of the notarial deed is available for inspection at the Company’s offices.
Hunter Douglas has its Head Office in Rotterdam, the Netherlands, and a Management Office in Lucerne, Switzerland. The Hunter Douglas Group is comprised of 132 companies with 50 manufacturing and 82 assembly operations in more than 100 countries. Hunter Douglas employs about 22,750 people with sales in 2017 of USD 3.2 billion.
The common shares of Hunter Douglas N.V. are traded on Amsterdam’s Euronext and the Frankfurter Börse.
For further information:
Chief Financial Officer
Tel. +31 10 486 95 82
E-mail: firstname.lastname@example.orgWebsite: www.hunterdouglasgroup.com