Tag: TNT

Amongst the items on the agenda of the Annual General Meeting of Shareholders on 11th April, are the appointment of new members to the Supervisory Board, the reappointment of one member of the Supervisory Board and two members of the Board of Management and the dividend proposal. During his presentation on the developments in 2007, TNT CEO Peter Bakker will discuss the 2007 results, collective labour agreement negotiations with the trade unions and the liberalisation of the postal market.

As regards the first quarter of 2008, TNT will give an update on developments in the company’s business. The underlying business in Q1 2008, taking into account the influence of phasing of the public holidays and the fewer working days, developed broadly in line with the outlook given on 18 February 2008.

Express volume growth in Q1 2008, corrected for the impact of fewer working days, was in line with the volume growth in Q4 2007, as previously announced. The yield, as a measure of the price development, was higher than in both Q1 and Q4 2007. Timing of Easter, this year in Q1 and last year in Q2, has impacted operating income with comparable effects as in previous years. This impact should be reversed in Q2 2008.

Developments in the Mail division are also broadly in line with the outlook provided on 18 February. TNT again confirms the target of EUR 110 million master plan savings to be realised in 2008/2009 through efficiency measures.

TNT will finalise its current share buyback programme of up to EUR 500 million, as announced earlier, by the middle of 2008. The remaining EUR 200 million will be realised in the next few months.

TNT will publish its 2008 first quarter results on 28 April. As usual, on the publication of the quarterly figures TNT will also give an update on the outlook for the current year. Developments so far are in line with the outlook given on 18 February.

TNT N.V. announced that the Annual General Meeting of Shareholders (AGM) adopted the 2007 financial statements and determined the dividend over 2007 at EUR 5 per ordinary share, duly noting that EUR 0.30 per ordinary share has already been paid as an interim dividend. An amount of EUR 0.55 per ordinary share therefore remains as final dividend, which shall be made payable on 22 April 2008.
During the AGM the following announcements with regard to the Supervisory Board and the Board of Management were made:
• Mr. J.H.M. Hommen, chairman of the Supervisory Board of TNT, will step down as chairman later this year, but will stay on as a member of the Supervisory Board until the next AGM.
• Mr. R.W.H. Stomberg and Mr. R. Dahan will step down as members of the Supervisory Board as of close of AGM and 1 June respectively.
• Intention of re-appointment of Mr. M.P. Bakker as member and chairman of the Board of Management of TNT.
• Intention of re-appointment of Mrs. M.C. Lombard as member of the Board of Management of TNT.
The AGM extended the authority of the Board of Management to issue ordinary shares. This authority shall be limited to a maximum of 10 pct of the issued capital plus a further 10 pct of the issued capital in case an issue takes place in relation to a merger or an acquisition. The same applies to the authority of the Board of Management to limit or exclude the pre-emptive right to the issuance of ordinary shares.