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Männedorf, Switzerland, April 23, 2008 – Today’s Annual General Meeting of Tecan Group Ltd. adopted all motions proposed by the Board of Directors. Shareholders approved an unchanged distribution of profits in the form of an ordinary dividend and a reduction in nominal value, each of CHF 0.45 per registered share. The shareholders also approved a motion extending and doubling the authorized capital created in 2006, thus enabling a further share repurchase program to be launched. The objective of the new program is to increase earnings per share. All members of the board were re-elected for a one-year term of office.
Shareholders adopted the annual report, the annual accounts and the consolidated financial statements and formally approved the actions of the Board of Directors and the Executive Committee. They also agreed to a reduction in share capital which will enable the repayment of capital to be made to shareholders as already approved. KPMG AG, Zurich, were confirmed as statutory and group auditors for the 2008 fiscal year.
Tecan’s new share repurchase program foresees the purchase of company shares equivalent to up to 10% of its share capital via a second trading line on the SWX over a period of up to two years. These shares will be destroyed. Tecan intends to propose to the annual general meetings in 2009 und 2010 that the share capital be reduced accordingly. Earnings per share will thus be increased further. It is also to be expected that this action will have a positive impact on the share price. This program replaces the repurchase program which has been in effect since January 2007, and which does not foresee the destruction of the repurchased shares. The current program operating via the first trading line will be concluded in May 2008.
The board proposed the adoption of the new repurchase program on condition that shareholders agreed to a two-year extension of the approval for the authorized capital created in 2006 and the option to increase it from 10% to 20% of the share capital. This will preserve flexibility for financing acquisitions.
The report on the first half of 2008 will be published on August 13, 2008.
Tecan Group Ltd.