Octavian Urges Balda Shareholders to Vote for Its Slate of Independent Directors at Upcoming EGM

Octavian Urges Balda Shareholders to Vote for Its Slate of Independent Directors at Upcoming EGM | Bild: © diane39

?We are honored by the support and positive feedback we have received from many of our fellow Balda shareholders,? said Richard Hurowitz, Chairman and Chief Executive Officer of Octavian. ?Their enthusiastic backing, combined with strong support from ISS and Glass Lewis, is powerful evidence that meaningful and immediate change is needed at Balda.?

Igor Kuzniar, a Managing Director at Octavian, said, ?Balda?s current Supervisory Board suffers from a conflict of interest that has inflicted severe damage on the company and its shareholders. If elected to the Supervisory Board, Octavian?s nominees will work diligently to unlock Balda?s value and will always act in the long-term best interests of the company and all of its shareholders.?

Octavian criticized the current Supervisory Board for employing deceptive tactics and inaccurate arguments in order to defend its questionable behavior and to mislead shareholders. Octavian noted the following in order to correct the record and provide its fellow Balda shareholders with accurate information:

In order to rectify the current situation at Balda and improve corporate governance at the company, Octavian is asking shareholders to replace the current Supervisory Board with three highly qualified and independent candidates ? René Charles Jäggi (Nominated as Chairman), Behdad Alizadeh, and Igor Kuzniar ? all of whom are firmly committed to protecting the best interests of all Balda shareholders.

Octavian urges its fellow shareholders to vote FOR Octavian?s slate of directors at Balda?s Extraordinary General Meeting on February 8, 2012 to ensure Balda has a Supervisory Board dedicated to maximizing value for all Balda shareholders.

Additional information regarding Octavian?s proposed course of action and recommended nominees is available at www.ShareholdersForBalda.com.

About Octavian Advisors

Octavian Advisors, LP is a global investment firm with offices in New York and London. The firm focuses on special situations and distressed investments in international markets, and has successfully invested in over 40 countries on six continents. Octavian currently manages approximately $1 billion for leading endowments, foundations, pension funds, family offices and institutions.