Annual General Meeting 2009 approves all proposals of the Board of Directors

The Annual General Meeting of Panalpina World Transport (Holding) Ltd., held on 5 May 2009, was well attended once again. The participating shareholders represented 53,4 % of the share capital. All motions proposed by the Board of Directors were approved by a clear majority.

In their speeches, both the Chairman Rudolf W. Hug and CEO Monika Ribar acknowledged the solid annual results of the financial year 2008 that had been achieved despite a very challenging market environment. Marco Gadola who assumed the position of Panalpina’s CFO in September 2008 presented the key figures of the financial year 2008 and of the first quarter 2009 providing further insight into the company’s operational performance. Monika Ribar stressed the benefits of Panalpina’s asset-light business model, particularly in the current situation with global demand on the decline.

Sound majority for all motions
The Annual General Meeting approved the annual report, the annual financial statements and the consolidated financial statements. It further granted discharge to the members of the Board of Directors as well as the members of the Executive Board for the financial year 2008. The shareholders also followed the proposals for a dividend of CHF 1.90. KPMG AG, Zurich was re-elected as statutory auditor for the year 2009.

Further the extension for another two years of the authorized capital in the amount of maximum CHF 6 million corresponding to 3 million shares was approved in addition to other amendments of the Articles of Association.

The next Annual General Meeting is scheduled for 4 May 2010.

The Panalpina Group
The Panalpina Group is one of the world's leading suppliers of forwarding and logistics services, specializing in end-to-end supply chain management solutions and intercontinental air freight and ocean freight shipments. Thanks to its in-depth industry know-how and state-of-the-art IT systems, Panalpina provides globally integrated door-to-door forwarding services tailored to its customers' individual needs. The Panalpina Group operates a close-knit network with some 500 branches in over 80 countries. In a further 80 countries, it cooperates closely with partner companies. Panalpina employs about 14,000 people worldwide.