Siemens Aktiengesellschaft / AGM/EGM/Miscellaneous
16.01.2008
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Ratification of the acts of Siemens Managing Board members to be postponed
The Chairmans Committee of the Supervisory Board and the Managing Board of
Siemens AG jointly recommend postponing ratification of the acts of members
of the Managing Board of Siemens AG in fiscal 2007 as well as of those
members of the Supervisory Board who previously served on the Managing
Board in the period since 1999. Affected former members of the Managing
Board also support the proposal to postpone the ratification. President and
CEO Peter Löscher is exempt from the postponing the ratification. The new
proposal of the Chairmans Committee and the Managing Board will be
presented to the Supervisory Board at an extraordinary meeting on January
21, 2008.
In the course of its independent investigation, the law firm Debevoise &
Plimpton is continually gaining new information through the companys
amnesty program. The Siemens Managing Board and the Chairmans Committee of
the Supervisory Board therefore believe it is recommendable to propose at
the Annual Shareholders Meeting the precautionary postponement of the
ratification of the acts of members of the Managing Board in fiscal 2007.
The law firm makes no comment on individual members of the Managing Board
with the exception of Peter Löscher: Since the CEO was not yet employed by
Siemens in the period under investigation, a postponement of his
ratification is not considered.
On the basis of current information at Debevoise & Plimpton, there are no
reservations about ratifying the acts of members of the Supervisory Board.
However, members of the Supervisory Board who were members of the Managing
Board in the period under investigation are an exception. According to the
law firm, there is currently no new information that would stand in the way
of a reelection of the three current Supervisory Board members Gerhard
Cromme, Josef Ackermann and Lord Iain Vallance of Tummel.
A letter from Debevoise & Plimpton to Supervisory Board Chairman Gerhard
Cromme is available at the Siemens Annual Shareholders Meeting website:
www.siemens.com/agm
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Information and Explaination of the Issuer to this News:
This document contains forward-looking statements and information that
is, statements related to future, not past, events. These statements may be
identified by words such as 'expects,' 'looks forward to,' 'anticipates,'
'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' 'will' or words of
similar meaning. Such statements are based on our current expectations and
certain assumptions, and are, therefore, subject to certain risks and
uncertainties. A variety of factors, many of which are beyond Siemens
control, affect its operations, performance, business strategy and results
and could cause the actual results, performance or achievements of Siemens
worldwide to be materially different from any future results, performance
or achievements that may be expressed or implied by such forward-looking
statements. For us, particular uncertainties arise, among others, from:
changes in general economic and business conditions (including margin
developments in major business areas); the challenges of integrating major
acquisitions and implementing joint ventures and other significant
portfolio measures; changes in currency exchange rates and interest rates;
introduction of competing products or technologies by other companies; lack
of acceptance of new products or services by customers targeted by Siemens
worldwide; changes in business strategy; the outcome of pending
investigations and legal proceedings; our analysis of the potential impact
of such matters on our financial statements; as well as various other
factors. More detailed information about our risk factors is contained in
Siemens filings with the SEC, which are available on the Siemens website,
www.siemens.com, and on the SECs website, www.sec.gov. Should one or more
of these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from those
described in the relevant forward-looking statement as expected,
anticipated, intended, planned, believed, sought, estimated or projected.
Siemens does not intend or assume any obligation to update or revise these
forward-looking statements in light of developments which differ from those
anticipated.
EBITDA (adjusted), Return on capital employed, Free cash flow, Cash
conversion and Net debt are Non-GAAP financial measures. A reconciliation
of these amounts to the most directly comparable IFRS financial measures is
available on our Investor Relations website under www.siemens.com/ir,
Financial Publications, Quarterly Reports. 'Group profit from operations'
is reconciled to 'Income before income taxes' of Operations under
'Reconciliation to financial statements' in the table 'Segment
Information.'
DGAP 16.01.2008
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Language: English
Issuer: Siemens Aktiengesellschaft
Wittelsbacherplatz 2
80333 München
Deutschland
Phone: +49 (0)89 636-00
Fax: +49 (0)89 636-32908
E-mail: investorrelations@siemens.com
Internet: www.siemens.com
ISIN: DE0007236101
WKN: 723610
Indices: DAX, EURO STOXX 50
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard),
Hannover, München, Hamburg, Düsseldorf, Stuttgart;
Terminbörse EUREX; Foreign Exchange(s) London, NYSE, SWX
End of News DGAP News-Service
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DGAP-Adhoc: Siemens AG: Ratification of the acts of Siemens Managing Board members to be postponed
| Source: EQS Group AG