TomTom 2005 Annual Report Download - page 36

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36
according฀to฀the฀Daily฀Official฀List฀may฀submit฀proposals฀
for฀the฀agenda.฀Provided฀we฀receive฀such฀proposals฀no฀
later฀than฀the฀60th฀day฀before฀the฀General฀Meeting฀of฀
Shareholders,฀we฀will฀have฀the฀proposals฀included฀in฀the฀
notice฀we฀publish฀in฀a฀national฀newspaper฀distributed฀
daily฀in฀The฀Netherlands฀and฀also฀in฀the฀Daily฀Official฀List฀
at฀least฀15฀days฀before฀the฀meeting.
The฀Management฀Board฀may฀determine฀a฀record฀date฀to฀
establish฀which฀shareholders฀are฀entitled฀to฀attend฀and฀
vote฀at฀the฀General฀Meeting฀of฀Shareholders.฀There฀is฀no฀
attendance฀quorum.
Each฀of฀our฀ordinary฀shares฀and฀preference฀shares฀is฀
entitled฀to฀one฀vote.฀Shareholders฀may฀vote฀by฀proxy.฀
The฀voting฀rights฀attached฀to฀any฀of฀our฀shares฀held฀by฀us฀
are฀suspended฀as฀long฀as฀they฀are฀held฀in฀treasury.฀
Resolutions฀of฀the฀General฀Meeting฀of฀Shareholders฀are฀
adopted฀by฀a฀simple฀majority,฀except฀where฀Dutch฀law฀or฀
our฀Articles฀of฀Association฀provide฀for฀a฀special฀majority.฀
According฀to฀our฀Articles฀of฀Association฀the฀following฀
decisions฀of฀the฀General฀Meeting฀of฀Shareholders฀require฀
a฀majority฀of฀at฀least฀two-third฀of฀the฀votes฀cast,฀
representing฀more฀than฀50%฀of฀our฀issued฀share฀capital:฀
•
฀ ฀a฀resolution฀to฀cancel฀a฀binding฀nomination฀for฀the฀
appointment฀of฀members฀of฀our฀Management฀Board฀
and฀Supervisory฀Board;฀
•
฀ ฀a฀resolution฀to฀appoint฀members฀of฀the฀Management฀
Board฀or฀Supervisory฀Board฀in฀contravention฀of฀the฀list฀
of฀nominees฀submitted฀by฀the฀Supervisory฀Board;฀and
•
฀ ฀a฀resolution฀to฀dismiss฀or฀suspend฀members฀of฀the฀
Management฀Board฀or฀Supervisory฀Board.
In฀addition,฀our฀Articles฀of฀Association฀require฀a฀majority฀
of฀at฀least฀two-thirds฀of฀the฀issued฀capital฀if฀less฀than฀
50%฀of฀our฀issued฀share฀capital฀is฀represented฀for฀among฀
other฀matters:
•
฀ ฀a฀resolution฀of฀the฀General฀Meeting฀of฀Shareholders฀
regarding฀restricting฀and฀excluding฀pre-emption฀rights฀or
decisions฀to฀designate฀the฀Management฀Board฀as฀the฀
body฀authorised฀to฀exclude฀or฀restrict฀pre-emption฀rights;
•
฀ ฀a฀resolution฀of฀the฀General฀Meeting฀of฀Shareholders฀to฀
reduce฀our฀outstanding฀share฀capital;฀and
฀•
฀฀a฀resolution฀of฀the฀General฀Meeting฀of฀Shareholders฀to฀
have฀us฀merge฀or฀demerge.
Preference฀shares
The฀Articles฀of฀Association฀provide฀for฀the฀possibility฀of฀
issuing฀preference฀shares฀as฀an฀anti-takeover฀measure.฀
There฀are฀currently฀no฀preference฀shares฀outstanding.฀
As฀discussed฀in฀the฀“Anti-takeover฀measure”฀section฀in฀
this฀annual฀report,฀the฀issue฀of฀preference฀shares฀by฀us฀
to฀Stichting฀Continuïteit฀TomTom฀(the฀“Foundation”)฀may฀
have฀the฀effect฀of฀preventing,฀discouraging฀or฀delaying฀a฀
change฀of฀control฀over฀us.฀The฀purpose฀of฀the฀Foundation฀
is฀to฀safeguard฀our฀interests฀and฀those฀of฀our฀subsidiaries฀
and฀to฀protect,฀in฀so฀far฀as฀possible,฀our฀continuity฀and฀
our฀corporate฀identity.฀The฀Management฀Board฀of฀the฀
Foundation฀consists฀of฀one฀“A฀Board฀member”฀and฀two฀
“B฀Board฀members”.฀The฀A฀Board฀member฀is฀appointed฀
by฀the฀Management฀Board,฀from฀among฀the฀members฀of฀
the฀Supervisory฀Board,฀subject฀to฀the฀approval฀of฀the฀
Supervisory฀Board.฀The฀B฀Board฀members฀are฀appointed฀
by฀the฀Board฀of฀the฀Foundation.
In฀2005,฀the฀members฀of฀the฀Management฀Board฀of฀the฀
Foundation฀were:
B.B.฀Hoogendoorn฀฀ A฀Board฀member
M.W.฀den฀Boogert฀ B฀Board฀member
R.L.฀de฀Bakker฀ B฀Board฀member
As฀a฀consequence฀of฀Mr.฀Hoogendoorn’s฀resignation฀
from฀our฀Supervisory฀Board฀on฀29฀September฀2005฀(as฀
discussed฀in฀Supervisory฀Board฀Report฀in฀this฀annual฀
report),฀he฀automatically฀resigned฀as฀the฀A฀Board฀
member฀of฀the฀Foundation.฀He฀is฀replaced฀by฀
Mr.฀Demuynck฀from฀amongst฀our฀Supervisory฀Board฀
members.
For฀further฀details฀about฀our฀preference฀shares฀see฀note฀
17฀to฀the฀financial฀statements฀of฀TomTom฀NV฀included฀in฀
this฀annual฀report.