Looking back on another successful year in 2005, the shareholders approved a dividend increase from CHF 50.-- to CHF 80.-- per share.
Dr. h.c. Heinrich Steinmann, serving as Chairman since 1993 and additionally as Chief Executive Officer since 1995, retired from office at the Annual Meeting of Shareholders. Dr. Walter Bürgi, Ulrich Fischer and Urs B. Rinderknecht stepped down as well.
In light of the new energy group to be formed from Aare-Tessin Ltd. (Atel), EOS and prospectively the Swiss assets of the EDF Group, a new Board was appointed. New directors elected were Dr. Rainer Schaub, Marc Boudier, Dr. Hans Büttiker, Dr. Dominique Dreyer, Dr. Marcel Guignard, Philippe V. Huet, Hans E. Schweickardt, Dr. Alex Stebler, Urs Steiner, Christian Wanner and Dr. Giuliano Zuccoli. Dr. Rainer Schaub was appointed Chairman, and Jean-Philippe Rochon will continue as Vice Chairman.
Shareholders also approved a proposal to increase the authorized capital by up to CHF 50,600,000.-- in order to provide the necessary shares for the public exchange offer made by Motor-Columbus to Atel shareholders.
Due to the planned merger with Atel, this was the last Annual Meeting of Shareholders of Motor-Columbus Ltd. The necessary Special Meetings of Shareholders are scheduled for July 7, 2006.