General meeting of BWT Aktiengesellschaft (“BWT”) resolves on the spin-off of Christ Water Technology AG (“CWT”) along with its division Aqua Systems Technologies
Legal force of spin-off scheduled for end of October/beginning of November 2005.
Change in the management board of BWT AG: DDr. Karl Michael Millauer leaves as management board member of BWT and remains management board chairmen of Christ Water Technology AG.
Mondsee, September 26, 2005. The Austrian company BWT Aktiengesellschaft – Europe's market leader in the field of water treatment – announced in an ad hoc disclosure the result of the vote in today's Extraordinary General Meeting, in which the only point on the agenda was the spin-off of its wholly-owned subsidiary Christ Water Technology AG.
100% of the votes cast were in favor of the proposed spin-off. 0% abstained and 0% voted against the proposal.
There was no objection to the minutes in the General Meeting, with the result that no appeal against the General Meeting resolution is expected from today's perspective.
The overwhelming majority of BWT shareholders thus resolved that the industrial and communal water technology activities bundled into Christ Water Technology AG would be managed as an independent group in the future.
Following the end of the one-month period for objection, the spin-off is due to be filed in the Austrian Commercial Register at the end of October/start of November 2005. On the legal force of the spin-off associated with this, shareholders of BWT Aktiengesellschaft will also receive a free share in Christ Water Technology AG for each share in BWT Aktiengesellschaft. The shares will be allotted automatically to the respective custody account of the BWT shareholder. The Management Board is seeking a listing of the shares of Christ Water Technology AG on the official market of the Vienna Stock Exchange close to the time that the spin-off comes into force.
Continuity at both BWT and CWT is guaranteed by the fact that the spun-off company CWT will also continue to be under the Management Board chairmanship of Dr. Karl Michael Millauer. To be able to devote his full attention to this task, Dr. Millauer left the Management Board of BWT Aktiengesellschaft at the end of today's General Meeting. In future, the BWT Management Board will comprise Andreas Weissenbacher as the Chairman of the Management Board and Gerhard Speigner as the CFO. Christ Water Technology AG will be managed by Dr. Millauer as the Management Board Chairman and Dipl. Ing. Hartmut Gussmann as a Management Board Member.
As a result of the spin-off, the financial calendar of BWT will also be changed. To be able to properly implement the organizational changes made necessary by the spin-off, both BWT and CWT are due to publish separate figures for the first time for Q3 on November 30, 2005.
Issuer: BWT Aktiengesellschaft, Walter-Simmer-Strasse 4, A - 5310 Mondsee, Austria.
The shares of BWT Aktiengesellschaft, ISIN AT0000737705 are listed on the official market of the Vienna Stock Exchange in the prime market segment.
Queries:
BWT Aktiengesellschaft
Walter-Simmer-Strasse 4
A- 5310 Mondsee
Austria
Tel.: +43 6232 5011-1112 or 1113
Fax: +43 6232 5011-1191
E-mail: investor.relations@bwt.at
www: http://www.bwt-group.com
Mondsee, September 26, 2005
BWT Aktiengesellschaft
The Management Board