Tecnost International NV Floating Rate Notes 1999-2004: bondholders attending represented 3.8 billion Euro, equivalent to 40.6% of the issue. The agenda items were approved with 100% of the votes cast.
Olivetti International NV 5.875% 1998-2003: bondholders attending represented 98.2 million Euro, equivalent to 14% of the issue. The agenda items were approved with 99.9% of the votes cast in favour.
Olivetti International NV 5% 1999-2009: bondholders attending represented 143.6 million Euro, equivalent to 9.6% of the issue. The agenda items were approved with 99.9% of the votes cast in favour.
Specifically, the Meetings voted the planned Olivetti-Tecnost merger to be consistent with the terms of the bond regulation. They also approved the previously announced credit protection package designed by Olivetti and Tecnost to safeguard the interests of all holders of bonds issued by their subsidiaries in the event of changes in the bond credit ratings.
Tecnost and Olivetti note their satisfaction at the high level of institutional investor participation at the meetings and the large majorities with which the agenda items were approved.
