Aryzta AG:Extract from Group Financial Statements 2009
September 28, 2009 | by Aryzta
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September 28, 2009, Notes to the Group Financial Statements (continued) for the year ended 31 July 2009 8 Current litigation A former Hiestand shareholder has taken legal action against the company asserting, in essence, entitlement under the merger to a price for its Hiestand shares equal to the price IAWS Group paid Lion Capital for its former Hiestand shares under their contract.
While such an action is permitted under Swiss Law (based on Article 105 of the Swiss Merger Act), it does not affect the implementaion of the merger. The Group considers the case to be without merit. A complete defense to the claim, based on the law and the facts, is being vigorously pursued. 9 Dividends It is proposed that a final dividend of 35.20 cent per ordinary share will be paid to ordinary shareholders after the balance sheet date (2008: no dividend). 10 Post balance sheet events There have been no significant events, outside the ordinary course of business, affecting the Group since 31 July 2009.
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Source: Aryzta, Press release