Annual General Meeting 2012 approves all BoD proposals

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Annual General Meeting 2012 approves all BoD proposals

May 8, 2012

The Annual General Meeting of Panalpina World Transport (Holding) Ltd., held on May 8, 2012, was attended by shareholders representing 57.98% of the share capital. All proposals of the Board of Directors were approved by a clear majority.

The Annual General Meeting approved the annual report, the annual financial statements, the consolidated financial statements and the distribution of a gross dividend. Proposed changes in the articles of association of the company were approved, amongst others the reduction of the share capital by cancellation of 1.25 million registered shares, which were repurchased in the context of the share repurchase program concluded in 2008, and by way of reducing the nominal value of the registered shares of CHF 2.00 by CHF 1.90 to new CHF 0.10.

The Annual General Meeting granted discharge to the members of the Board of Directors as well as the members of the Executive Board for the financial year 2011. KPMG AG, Zurich, was re-elected as statutory auditor for the financial year 2012.

Members of the Board of Directors re-elected

Clearly re-elected for a term of office of one year were Rudolf W. Hug, Beat Walti, Lars Förberg, Chris E. Muntwyler, Roger Schmid, Hans-Peter Strodel and Knud Elmholdt Stubkjær.

Link to the Board of Directors.

The next Annual General Meeting is scheduled for May 15, 2013.

About Panalpina

The Panalpina Group is one of the world's leading providers of supply chain solutions. The company combines its core products of Air Freight, Ocean Freight, and Logistics to deliver globally integrated, tailor-made end-to-end solutions. Drawing on in-depth industry know-how and customized IT systems, Panalpina manages the needs of its customers' supply chains, no matter how demanding they might be. The Panalpina Group operates a global network with some 500 offices in more than 80 countries, and it works with partner companies in a further 80 countries. Panalpina employs around 15,000 people worldwide who deliver a comprehensive service to the highest quality standards – wherever and whenever.