Belgium: The world’s largest beer maker by volume, InBev, announced on March 17, 2005, that The Extraordinary Shareholders’ Meeting has approved the authorisation to the Board of Directors to issue up to 49,545,705 new ordinary shares, to the extent required to satisfy the mandatory tender offer launched on AmBev in Brazil. InBev said: “The Extraordinary Shareholders’ Meeting has approved the authorisation to the Board of Directors of InBev to issue up to 49,545,705 new InBev ordinary shares (that would give right to the dividend relating to the 2005 financial year and subsequent financial years), to the extent that would be required to satisfy the stock-for-stock option of the mandatory tender offer (« MTO ») that InBev is carrying out, from 14 February 2005 to 29 March 2005, in Brazil, on the common shares of AmBev (please refer to the press release of 14 February 2005 and the special Board Report dated 25 February for more details on the MTO, its timing and settlement).”

In addition, the Extraordinary Shareholders’ Meeting has also acknowledged the honourable resignation of Mr. Bernard Hanon from his office as director, effective as of 7 October 2004.

the Extraordinary Shareholders’ Meeting has also approved the appointment on a definitive basis of Mr. Mark Winkelman as director coopted on 6 October 2004 by the Board of Directors (Mr. Winkelman’s office being effective as of 7 October 2004 and ending after the Shareholders’ Meeting which will be called to approve the accounts relating to the year 2006) and (ii) acknowledged that he qualifies as an independent director within the meaning of Article 524 of the Belgian Companies Code.

The Extraordinary Shareholders’ Meeting has also approved the insertion of an additional provision in the Articles of Association, reading as follows: “The Board of Directors may invite one or more individuals who are not employees of the company nor of one of its subsidiaries to contribute their experience and knowledge to the deliberations of the Board and may, to that effect and for a duration that it determines for each of them, allow them to attend its meetings, in whole or in part, in an advisory and non-voting capacity. Such individual will not qualify as director for the purposes of these Articles of Association, of the Companies Code, nor for any other purpose. The Board determines the amount of their remuneration”.

InBev is a publicly traded company (Euronext: INB) based in Leuven, Belgium. The company's origins date back to 1366, and today it is the leading global brewer by volume. InBev’s strategy is to strengthen its local platforms by building significant positions in the world's major beer markets through organic growth, world-class efficiency, targeted acquisitions, and by putting consumers first. InBev has a portfolio of more than 200 brands, including Stella Artois®, Brahma®, Beck’s®, Skol®—the third-largest selling beer brand in the world—Leffe®, Hoegaarden®, Staropramen® and Bass®. InBev employs some 77,000 people, running operations in over 30 countries across the Americas, Europe and Asia Pacific. In 2004, InBev realized a net turnover of 8.57 billion euro (including four months of AmBev).

E-malt.com, the global information source for the brewing and malting industry professionals. The bi-weekly E-malt.com Newsletters feature latest industry news, statistics in graphs and tables, world barley and malt prices, and other relevant information. Click here to get full access to E-malt.com. If you are a Castle Malting client, you can get free access to E-malt.com website and publications. Contact us for more information at marketing@castlemalting.com .