The Board of Actavis Group Ltd ("ACT"; 'Actavis') announces a shareholders' meeting to be held at Nordica Hotel, Reykjavík, on 9 February 2007 at 4.30 p.m.
The agenda of the meeting is as follows:
1. The Board of Directors of Actavis Group Ltd. submits the following proposals which entail amendments to the Company's Articles of Association:
a) That the Board of Directors be authorised to convert the Company's Class A shares from ISK to EUR, as permitted by sub-paragraph 4 of Article 1 of the Act No. 2/1995 on public limited liability companies. The conversion shall be made in accordance with the Act No. 3/2006 on Annual Accounts, cf. sub-paragraph 5 of Article 1 of the Act No. 2/1995 on public limited liability companies. In addition, the Board shall be authorised to make the necessary amendments to the Company's Articles of Association reflecting the convertion, indluding with respect to amounts specified in Article 2 effected by the convertion. If the convertion is approved by the Board of Directors, the nominal value of each share will be EUR 0.01.
b) That article 2.02.4 in the Company's Articles of Association be amended and read as follows:
"The Board of Directors is authorized to increase the Company's share capital in Class A by a nominal value of up to ISK 1,200.000.000 - twelve hundred million Icelandic kronur - nominal value in relation to the funding of the acquisition of shares in other companies. This authorisation remains valid for one year as of the approval thereof. The new shares shall confer rights as from the date of registration of the share capital increase. The Board may decide that payment for the new shares may be made in a form other than cash. The shareholders shall not have pre-emptive rights to subscribe for the new shares."
2. Other matters.
The agenda of the meeting and final proposals will be available for shareholders at the offices of Actavis Group ltd., Dalshrauni 1, 7 days prior to the meeting.
For further information, please contact:
Halldór Kristmannsson Vice President of Corporate Communications and IR
Tel. + 354 535 2525 / 840 3425
E-mail at hkristmannsson@actavis.com.
Ballots and other documents will be handed out at Hotel Nordica as of 4.00 pm on the day of the meeting.