APA ots news: Investor Representative Pleased With ISS (Institutional...

Wien (APA-ots) - Alexander Proschofsky, MIP and MAI shareholder   representative, is pleased with the recommendations by the ISS Governance Service. ISS is a globally leading, independent company that develops voting rights recommendations for shareholders' meetings and corporate governance issues.

For the shareholders' meetings of Meinl International Power taking place on 28 July, ISS recommends voting AGAINST the motion of the current Board of Directors. Moreover, ISS recommends voting IN FAVOR OF ALL directors proposed by the investors, as well as to support the voting out motions against Heinrich Schwägler, Georg Kucian, Karel Römer, Peter Byrne and Michael Richardson.

In their comprehensive analysis, ISS expresses doubt, among other things, as to whether the present MIP management is acting in the best interest of all investors, and criticizes the dependence of the management proposals upon rejecting the motions by the investors.

Amongst other things, ISS establishes the following:

"As the MIP board has done little to earn shareholders' trust during its short existence, we support the dissident shareholders' goals."

In the case of Meinl Airports International, it is recommended to vote AGAINST the amendment to the articles proposed by the Board of Directors.  Also in this case, it is recommended to vote in favor of ALL directors proposed by the investors and to support the voting out motions against Heinrich Schwägler, Georg Kucian and Karel Römer.

Amongst other things, ISS establishes the following:

"We applaud the dissidents for forcing some much needed change at the company, and we call upon the company to honor its commitment to change."

Alexander Proschofsky commented on the matter:

"We are very proud that we were able to convince the renowned and multinational ISS of our proposal to the investors."

Each year, ISS delivers voting recommendations for over 40,000 shareholders' meetings in over 100 markets and employs over 200 analysts for this purpose.  Many institutional investors the world over consider ISS's work an important basis for decision for their voting.  ISS Governance Service belongs to the Risk Metrics Group.

Rückfragehinweis:    Dr. Alexander Proschofsky      Telephone: +43 (676) 347 56 33      Email: proschofsky@activeinvestor.at

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OTS0157    2008-07-18/13:25