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March 28, 2007 | Corporate News | English

2007 Annual General Meeting of the Shareholders: Tecan board recommends the rejection of personnel-related motions from BB Medtech / BB Medhealth

Männedorf, Switzerland, 28 March, 2007 – The BB Medtech / BB Medhealth shareholder group has submitted a number of requests for items to be added to the agenda of the Tecan Annual General Meeting of 19 April, 2007. These include the introduction of one-year terms of office for board members, removing the chairman of the Board, Mike Baronian, from the board of directors and the election of two new board members to be nominated by BB Medtech / BB Medhealth. The Tecan board of directors recommends that shareholders reject the personnel-related motions from the BB Medtech / BB Medhealth shareholder group, and elect the candidates proposed by Tecan to the board of directors.

Under the leadership of the current chairman Mike Baronian and the newly constituted management team, Tecan has delivered an exceptionally strong performance over the past two years. As a result, the company is today in a healthy and strong position operationally, strategically and financially and is well prepared for further growth. Over the past few weeks, Tecan has held numerous meetings with multiple investors regarding the strategic development of the company, including with BB Medtech / BB Medhealth. In all of these discussions, Tecan’s strategy was well understood and accepted.
In order to build on the track record of the past years and to continue implementing the strategy as planned, Tecan wants to maintain its proven leadership constellation. The Tecan board of directors unanimously supports Mike Baronian as its chairman.

As previously announced, the board is nominating Heinrich Fischer and Jürg Meier as replacements for Heino von Prondzynski, who resigned, and Timothy Anderson, who is no longer standing as a candidate for re-election. The board feels that Heinrich Fischer, CEO of the Saurer Group, and biopharmaceutical industry expert Jürg Meier, formerly head of the Novartis Venture Fund, represent ideal additions to the Tecan board of directors. Both candidates are highly qualified in areas that are of direct relevance and benefit to Tecan and in which the board has been actively seeking additional expertise. In Tecan’s view the candidates put forward by BB Medtech / BB Medhealth, Uwe Bicker and Ernst Kurt Zaengerle, do not contribute in the targeted areas of expertise to the same extent as Messrs. Fischer and Meier.

Current director Peter Ryser is standing for re-election for a further period of office.

BB Medtech / BB Medhealth have also requested that board members should hold office for terms of one year only. This is in line with a desire repeatedly expressed by multiple shareholders. As a result, the Tecan board supports this motion as part of a further improvement to the firm’s corporate governance.

As announced on 13 March, 2007, the board is also proposing to the shareholders a dividend payment that is twice as high as that of last year. It is made up of a dividend of CHF 0.45 and a reduction in nominal value of CHF 0.45 per share.

 

About Tecan

Tecan (www.tecan.com) is a leading global supplier of instruments and solutions for the biopharma, forensic and diagnostic industries. The company is a leader in the development, production and distribution of advanced automation and detection solutions for the world’s leading life science laboratories. Through its REMP subsidiary (www.remp.com), Tecan is the premier supplier of large-scale automated laboratory storage and logistics systems. Founded in Switzerland in 1980, the company has over 1100 employees, owns production, research and development sites in both North America and Europe and maintains a sales and service network in 52 countries. In 2006, Tecan achieved sales of CHF 405.9 million (USD 324.7 million; EUR 258.6 million). Shares of the Tecan Group are traded on the SWX Swiss Exchange (TK: TECN/Reuters: TECZn.S/Valor: 1210019).

For further information please contact:

Tecan Group Ltd.
Andreas Wilhelm
Corporate Counsel
Seestrasse 103
8708 Maennedorf
Switzerland

T +41 44 922 84 30
F +41 44 922 88 89
investor@tecan.com
www.tecan.com

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