INDUS not affected by private legal dispute surrounding business affairs of Dr. Kill, former chairman of supervisory board
Bergisch Gladbach, August 3, 2009 - A legal dispute with no connection to INDUS Holding AG is currently pending between the British hedge fund Audley Capital Advisors and Dr. Winfried Kill. The legal dispute relates to private payment obligations on the part of Dr. Kill.
In the run-up to this year’s Annual General Meeting of INDUS Holding AG, the Board of Management was contacted on June 19, 2009 by Audley Capital Advisors with regard to the state of health of Winfried Kill. A personal health report (dated March 15, 2009) had apparently been received, according to which Dr. Kill had been incapable of conducting business transactions since May 2008. We detected no sign of the incapacity asserted in this report. On the contrary, all participants at the Annual General Meeting in 2008 witnessed a quick-witted Chairman of the Supervisory Board who competently chaired the meeting.
At the same time, INDUS took seriously Audley’s reservations concerning the potential formal implications and commissioned two independent reports. Both reached the same conclusion – that there are no grounds to consider the 2008 Annual General Meeting invalid or to contest the resolutions adopted at such time. As a result, there was and is no ad-hoc disclosure obligation. We communicated the contents of these findings to Audley Capital. Consequently, this matter was not raised at the most recent Annual General Meeting on July 1, 2009.
This issue is therefore of no relevance to INDUS and remains a private matter between Audley Capital and Dr. Kill. INDUS hereby clarifies that the company and its Board of Management were at no time involved in the private business dealings of Dr. Kill and that furthermore the company has no business dealings with Vatas/Lars Windhorst or Audley Capital Advisors.
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