Extraordinary general meeting of Panalpina approves all board proposals Dienstag, 06. August 2019 - 09:30

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At the extraordinary general meeting of Panalpina World Transport (Holding) Ltd., held on August 6, 2019, 67.57% of the share capital was represented. All proposals of the board of directors, including the election of the new board members, were approved by a clear majority.

Kurt K. Larsen (top left), Thomas Plenborg (top right), Jens Bjørn Andersen (bottom left) and Jens H. Lund (bottom right). (Photo: DSV / Panalpina)

The extraordinary general meeting ("EGM") of Panalpina, which was held on August 6, 2019 in connection with the public exchange offer by DSV A/S for all publicly held registered shares of Panalpina World Transport (Holding) AG, published on May 13, 2019 ("Offer"), approved all proposals of the board of directors.

The EGM approved the proposed amendments of the articles of association, mainly consisting in the repeal of the share transfer and voting rights restrictions in articles 5 and 12.

Furthermore, the EGM elected Kurt K. Larsen as member and chairman of the board of directors as well as Thomas Plenborg, Jens Bjørn Andersen and Jens H. Lund as members of the board of directors with effect as of the settlement of the Offer, which is expected to occur on or around August 19, 2019.

Additionally, Jens Bjørn Andersen und Jens H. Lund were elected as the members of the compensation committee, also with effect as of the settlement of the Offer.

All current members of the board of directors of Panalpina World Transport (Holding) AG will resign with effect as of the settlement of the Offer.

IMPORTANT ADDITIONAL INFORMATION

This announcement does not constitute or form part of any offer to exchange or acquire, or a solicitation of an offer to exchange or acquire, shares in Panalpina, or an offer to sell, acquire or offer, or a solicitation to sell, acquire or offer shares in DSV. This announcement is not a substitute for the (i) Swiss offer prospectus or (ii) listing prospectus for new DSV shares ((i) to (ii) collectively, the “Offer Documents”). No offering of securities shall be made in the United States except pursuant to a vendor placement or another applicable exception from the registration requirements pursuant to the U.S. securities laws.

INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE OFFER DOCUMENTS AND ALL OTHER RELEVANT DOCUMENTS THAT DSV OR PANALPINA HAS FILED OR MAY FILE WITH ANY SWISS OR DANISH REGULATOR WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION.

The information contained in this announcement must not be published, released or distributed, directly or indirectly, in any jurisdiction where the publication, release or distribution of such information is restricted by laws or regulations. Therefore, persons in such jurisdictions into which these materials are published, released or distributed must inform themselves about and comply with such laws or regulations. Neither DSV nor Panalpina accepts or assumes any responsibility for any violation by any person of any such restrictions.

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About Panalpina

The Panalpina Group is one of the world's leading providers of supply chain solutions. The company combines its core products – Air Freight, Ocean Freight, and Logistics and Manufacturing – to deliver globally integrated, tailor-made end-to-end solutions for 12 core industries. Drawing on in-depth industry know-how and customized IT systems, Panalpina manages the needs of its customers' supply chains, no matter how demanding they might be. Project Solutions is a specialized service for the energy and capital projects sector. The Panalpina Group operates a global network with some 500 offices in around 70 countries, and it works with partner companies in another 100 countries. Panalpina employs approximately 14,500 people worldwide who deliver a comprehensive service to the highest quality standards – wherever and whenever.

www.panalpina.com

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