Proposals to the Regular Shareholder Meeting
April, 4, 2000, at Hamburg
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.
By Förderkreis "Rettet die Elbe e.V." und
Bernd Moritz, Hamburg, the following counter proposals to agenda items
2, 3, and 4 of the regular shareholder meeting on April, 4, 2000 were submitted:
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.
The reasons for the counter proposals were included, of course, but are
not repeated on this page. In reaction to the proposals, the board sent
to all shareholders the following
Statement of the Administration to counter proposals
to agenda items 2, 3, and 4.
The Administration regards the counter proposals
to agenda items 2, 3, and 4 as not reasonable.
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
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