STMicroelectronics Announces Proposals to be Offered at 2010 AGM
STMicroelectronics (NYSE:STM) announces the main resolutions to be submitted for shareholder approval at the Company's Annual General Meeting.
The main resolutions, proposed by the Supervisory Board, include:
-- Approval of the Company's 2009 accounts reported in accordance with International Financial Reporting Standards (IFRS)
-- The reappointment for a three-year term, expiring at the 2013 Annual General Meeting, for the following members of the Supervisory Board:
Mr. Raymond Bingham and Mr. Alessandro Ovi;
-- The distribution of a cash dividend of US$0.28 per share, to be paid in four equal quarterly installments in June, August and December 2010 and February 2011. The full schedule of the proposed installments is available at the following website:
http://www.st.com/stonline/press/news/year2010/c2626c.htm
Shareholders should register to participate at the AGM by April 28, 2010.
The complete agenda and all relevant detailed information concerning the AGM will be available on the Company's web site (www.st.com).
If approved, for the first installment, the Company's common shares will trade ex-dividend on Euronext Paris and the Milan Stock Exchange (Borsa Italiana), on Monday, May 31, 2010. The payment date will be Thursday, June 3, 2010.
For holders of shares listed on the NYSE, shares will trade ex-dividend on Friday, May 28, 2010. The record date will be Wednesday, June 2, 2010, and the payment date will be on or after Tuesday, June 8, 2010. Transfers between New York and European (Dutch) registered shares will be closed from the end of business in Europe on Friday, May 28, 2010, until the open of business in New York on Thursday, June 3, 2010.
*Since the Annual General Meeting will be held on May 25, the Company will be unable to both set the ex-dividend date for, and to pay, the first dividend installment in May according to the usual schedule, and has therefore resolved, in coordination with the stock exchange and with a view to ensuring the appropriate functioning of the market for its shares from a substantive standpoint, to pay such installment on June 3 with an ex-dividend date on May 31 (May 28 in NY). Other than indicated below, the ex-dividend and payment dates for the subsequent installments are consistent with the usual schedule.
About STMicroelectronics
ST aims to be the undisputed leader in multimedia convergence and power applications leveraging its vast array of technologies, design expertise and www.st.com.
