In their letter of 7 September, Centaurus and Paulson asked for the following to be placed before the meeting as a voting item:

 

to fully concentrate on the aerospace division in order to create a Dutch aerospace champion;

to divest all other businesses, including Prints, Technical Services and Food Systems;

where necessary, to re-invest any proceeds from divestments in the further growth of the aerospace division and to return excess capital to shareholders while maintaining an appropriate capital structure; and

to commence the implementation of the above strategy with immediate effect in order to benefit from the current market momentum and to create a focused Dutch aerospace company within one year.

 

Stork detailed its strategy in a press release on 1 February 2006. On 14 February 2006 Stork announced that it intended to investigate whether its strategy could possibly best be implemented as a privately held company rather than as a listed company ('Public-to-Private transaction'). The strategy and the investigation into a possible Public-to-Private transaction were discussed at the General Meeting of Shareholders held on 10 March 2006 under the agenda point 'Discussion of the strategy of Stork'.

 

Stork announced in a press release on 4 July 2006 that the investigation had been completed. The outcome was that Stork will remain a listed company. Stork provided further explanation in a shareholder letter attached to the press release of 4 July. In an Extraordinary General Meeting of Shareholders held on 5 September 2006, Stork discussed the process, the course and the outcome of the investigation with the shareholders, and at the same time gave an explanation of its strategy.

 

Stork has expressed its surprise about the fact that Centaurus and Paulson did not state their view at the Extraordinary General Meeting of Shareholders held on 5 September 2006. Stork is of the opinion that the present unrest and the request for yet another EGM is not in the interest of the company, customers and other stakeholders. Nevertheless, Stork is prepared to meet the request to hold an Extraordinary General Meeting of Shareholders.

 

Stork would like to point to the fact that the result of the voting item put forward by Centaurus and Paulson is not binding. The strategy of a company is determined by the management of the company.

 

The Extraordinary General Meeting of Shareholders will be held on 12 October 2006 at 14 hours in the Forum Hall of the RAI Congress Centre, Europaplein 22, Amsterdam. Timely notification of the meeting will be given by an advertisement in de Telegraaf, NRC Handelsblad, Het Financieele Dagblad and the OPC Official List. Information about the coming Extraordinary General Meeting of Shareholders, as well as that held on 5 September 2006 and the General Meeting of Shareholders held on 10 March 2006, can be found on the Stork website. 

 

 

Stork N.V.

Dick Kors

Tel.: +31 (0)35 - 695 75 75 or (0)6 - 51 98 40 54