AMSTERDAM, Netherlands, April 25, 2007 (PRIME NEWSWIRE) -- Head N.V. (NYSE:HED) (VSX:HEAD), a leading global manufacturer and marketer of sports equipment, announces its intention to make a payment of circa EUR 7,500,000 to its shareholders. During the Annual General Meeting it will seek shareholder approval to amend the Articles of Association of the Company to allow for a decrease of the nominal share capital of the Company to facilitate this payment to shareholders.
The Company wishes to repay an amount of circa EUR 7,500,000 to its shareholders in cash. From a Dutch dividend tax perspective, the most efficient manner to achieve this is to reduce the nominal value of the issued ordinary shares by the same amount and to pay that amount to the shareholders. The decrease requires an amendment to the Articles of Association of the Company.
The Annual General Meeting of Shareholders of Head N.V. will be held on Wednesday, 30th May at 13:00 hours (local time) at the Sheraton Amsterdam Airport Hotel, Schiphol Boulevard 101, 1118 BG Amsterdam, The Netherlands. Details concerning the agenda, the right to attend, and how to exercise rights at the Annual General Meeting will be available on Tuesday 8th May. The Annual General Meeting will not be open to members of the general public.
About Head
Head N.V. is a leading global manufacturer and marketer of premium sports equipment.
Head N.V.'s ordinary shares are listed on the New York Stock Exchange ("HED") and the Vienna Stock Exchange ("HEAD").
Our business is organized into four divisions: Winter Sports, Racquet Sports, Diving and Licensing. We sell products under the Head (tennis, squash and racquetball racquets, tennis balls, badminton products, alpine skis, ski bindings and ski boots, snowboards, bindings and boots), Penn (tennis and racquetball balls), Tyrolia (ski bindings), and Mares/Dacor (diving equipment) brands.
We hold leading positions in all of our product markets and our products are endorsed by some of the world's top athletes including Andre Agassi, Bode Miller, Didier Cuche, Marat Safin, Swetlana Kusnezowa, Johann Grugger, Marco Buchel and Maria Riesch.
For more information, please visit our website: www.head.com