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ST Microelectronics announces main resolutions for shareholder approval

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ST Microelectronics  has announced the main resolutions to be submitted for shareholder approval at the company’s annual general meeting, which will be held in Amsterdam on May 14, 2008.

The main resolutions, proposed by the supervisory board, include:

  • Approval of the company's 2007 accounts reported in accordance with International Financial Reporting Standards (IFRS). (2007 accounts reported under U.S. GAAP were filed on SEC Form 20-F on March 3, 2008)
  • The reappointment for a three-year term, expiring at the 2011 annual general meeting, of Carlo Bozotti as the sole member of the managing board and the company’s president and chief executive officer
  • The reappointment for a three-year term, expiring at the 2011 annual general meeting, for the following members of the supervisory board: Gérald Arbola, Tom de Waard, Didier Lombard and Bruno Steve
  • The appointment for a three-year term, expiring at the 2011 annual general meeting, as a member of the supervisory board of Antonino Turicchi
  • The distribution of a cash dividend of US$0.36 per share, to be paid in four equal quarterly installments in May, August and November 2008 and February 2009 to shareholders of record in the month of each quarterly payment. The details concerning the record dates and payment dates will be communicated subsequently
  • Authorisation to the supervisory board to approve share repurchases under certain limitations in accordance with applicable law
  • Renewal of PricewaterhouseCoopers Accountants N.V. as external auditors for a two-year term to expire at the end of the 2010 annual general meeting

The record date for all shareholders to participate at the annual general meeting will be April 14, 2008.

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