Proposals to the Regular Shareholder Meeting
According to the German legal prescriptions for limited companies on
shares, the executive board and the supervisory board of the company invite
shareholders to an annual meeting, where the financial year's balance,
a business report and the proposals of the board are debated. These proposals
usually say, how the profit shall be used (e.g. pay it to the shareholders
completely), and to exonorate both boards (for the job well done). Counter-proposals
on the items of the agenda have to be raised in a limited time. They have
to be brought forth to all shareholders by the board before the meeting.
The board will make a statement on the counter-proposals.
1. Counter Proposal to agenda item 2 "Use of Profit"
NA will take an initiative for the closure of Ok-Tedi Mine. For the relief of social consequences of mine closure, NA will make a deposit of 1% of profit.
2. Counter Proposal to agenda item 3 "Exonoration of Executive Board"
The executive board shall not be exonorated.
3. Counter Proposal to agenda item 4 "Exonoration of Supervisory Board"
The supervisory board shall not be exonorated.
NA produces various nonferrous metals, metal compounds, and especially copper, in its modern plant at Hamburg. With respect to environmental protection, it is one of the leading copper producers of the world. Besides recycling material, mainly copper concentrates are processed, which are gained from copper ore in mines, and which are indispensable for NA. Since ore reserves are not available to NA, it depends on worldwide aquisition of ore concentrates. It has to compete keenly with other copper producers internationally, which operate at low environmental standards and thus save cost. Unfair competition is enhanced by protective duties and the like.
NA receives copper concentrate from Papua New Guinea, among others. To our knowledge, exploitation of copper ore is permitted by state administration, and takes place in compliance with environmentally relevant constraints. The government is advised by international organisations, e.g. the World Bank.
a shareholder's comment (only German language), who transferred his right to vote to "Save the Elbe"
results of the meeting
Index of Ok Tedi pages
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