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A leading global supplier for textile machinery and components used in short-staple fiber spinning

The global provider of components for all spinning processes

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04/27/2006 - Annual General Meeting adopts all motions proposed by the Board of Directors

Winterthur – At today's Annual General Meeting of Rieter Holding Ltd. the 1'067 shareholders attending the meeting approved all board proposals. They elected the board members Dr. Ulrich Dätwyler and Dr. Peter Wirth for a further three-year term of office. The appointment of Dr. Jakob Baer as a new member of the board was also approved by shareholders. A dividend distribution of CHF 10.00 was resolved.

The Annual General Meeting of Rieter Holding Ltd. approved the annual report, the annual accounts, the consolidated financial statements for 2005 as well as the dividend payment of CHF 10.00 per registered share. It will be paid out to the shareholders on May 4, 2006. The shareholders elected Dr. Ulrich Dätwyler and Dr. Peter Wirth for a further three-year term of office and officially approved a general release of the Board of Directors for the year 2005. Shareholders also elected Dr. Jakob Baer to the board for a three-year term of office (commencing on October 1, 2006).

In his address to the meeting, Chairman Kurt Feller emphasized the group's healthy financial position and the pleasing consolidated results achieved in a difficult market environment. CEO Hartmut Reuter confirmed the positive outlook for the current financial year: "The high level of orders received by Textile Systems in the second half of 2005 continued in the first quarter of 2006, and Automotive Systems also recorded good sales growth in the first quarter."

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Urs Leinhäuser
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