Vitro: decision in final appeal on Vimxico merger

Vitro S.A.B. de C.V., announced that its subsidiary Vimxico, S.A. de C.V., was notified of the final non-appealable decision issued by the Second Collegiate Court for Civil Affairs of the Fourth Circu…

Vitro S.A.B. de C.V., announced that its subsidiary Vimxico, S.A. de C.V., was notified of the final non-appealable decision issued by the Second Collegiate Court for Civil Affairs of the Fourth Circuit, ratifying the decision issued by the First Instance and Appeal Courts denying Pilkington Group Limited“s opposition to the resolutions adopted at the Extraordinary Shareholders Meeting held on 11 December 2006, when the merger of Vitro Plan, S.A. de C.V. into Vimexico was approved. As a result of this ruling, in accordance with article 200 of the Mexican General Law of Corporations, all of the above mentioned resolutions are ratified as valid and binding for all shareholders, including those who voted against them. In addition, the Collegiate Court confirmed the dismissal of all claims by Pilkington in its original complaint and of the validity of the merger of Vitro Plan into Vimxico approved at the Extraordinary Shareholders Meeting of the now extinct Vitro Plan. The Collegiate Court confirmed the decision to award costs to Vimxico for legal fees and expenses including those incurred during the appeals proceedings. The original opinion of counsel to Vimexico that the company will also prevail in the separate lawsuit that Pilkington initiated in October 2007, claiming that the same Extraordinary Shareholders Meeting was null and void, has been reinforced by this final and non-appealable decision.