Sorin Group: Offer For Company Not Accepted; Approved The Changes To The Statutory By-Laws Related To The Law On Investors Protection
Milan, June 20, 2007 - The Board of Directors of Sorin S.p.A., which met today under the Chairmanship of Umberto Rosa, announces that the Company was informed today by some major shareholders of their receipt of a binding offer for the acquisition of the Company's shares held by the shareholders themselves. The offer, according to the information presented to the Board of Directors, was not accepted and consequently is no longer valid.
The Board of Directors also agreed to adapt the statutory by-laws to the new norms of the Law on Investors Protection, to the subsequent Legislative Decree 303 of December 29, 2006 and to the regulatory norms established and approved by Consob.
The newly-introduced modifications are regarding the rules for the appointment of the Board of Directors and the Statutory Board of Auditors through a voting list. Among the changes are the minimum shareholding needed to present the list -- at least 2.5%, as a result of the current market capitalization of Sorin shares on the Stock Exchange -- and the formal procedure for appointing as well as the professional requirements of the executive responsible for certification of financial and corporate documentation.
About the Sorin Group:
Marco Chiado Piat
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