In the invitation to the General Assembly 2002, it was originally proposed that shareholders representing 10% or more of share capital can request items for inclusion on the agenda. The Sulzer Board of Directors has now revised this proposal on a more shareholder-friendly basis and will recommend the General Assembly to replace this 10% limit by 2% in item 5 of the agenda (amendment to paragraph 3 of the statutes, § 14).
Shareholder rights to propose items for inclusion on the agenda are to be reintroduced because the Sulzer Medica spin-off in July 2001 has reduced the Sulzer Ltd share capital to CHF 109'140; this step led to the elimination of the right to propose items for inclusion on the agenda granted – according to OR Art. 699, par. 3 – to shareholders representing an aggregate par value of at least CHF 1 million share capital. |