We have simplified registration and legitimization for general meeting attendance by adopting the international standard record date. The cut-off date for shareholder legitimization is now the 21st day before a general meeting and the cut-off date for registration is the seventh day before the meeting. This encourages international investors in particular to attend general meetings and make use of their vote.
No conflict of interest involving members of the Executive Board or Supervisory Board has arisen requiring disclosure to the Supervisory Board without delay. There were no material transactions between HOCHTIEF Aktiengesellschaft or any Group company and Executive Board members or persons close to them in the reporting period. No contracts were entered into between the Company and members of the Supervisory Board.
It was agreed with the auditors, Deloitte & Touche GmbH Wirtschaftsprüfungsgesellschaft, that the Chairman of the Supervisory Board would be notified without delay of any grounds for disqualification or partiality arising during the audit unless the grounds were immediately eliminated. It was arranged for the auditors to report without delay on any facts or events relevant to the work of the Supervisory Board that may come to light during the audit. It was also arranged for the auditors to notify the Supervisory Board and/or note in the audit report if they should discover any facts during the audit indicating any inaccuracy in the Compliance Declaration submitted by the Executive Board and Supervisory Board.
The Chairman of the Supervisory Board outlined the main points of the Executive Board compensation system and any changes to it at the General Shareholders' Meeting in May 2006. This will be repeated at the 2007 meeting.
