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Second Collegiate Court confirms decision of First Instance and Appeal Courts denying Pilkington’s opposition to the merger of Vitro Plan into Viméxico

Post Time:Feb 25,2009Classify:Company NewsView:300

Vitro S.A.B. de C.V. (BMV: VITROA; NYSE: VTO), announced that its subsidiary Viméxico, S.A. de C.V. (Viméxico), 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 (Pilkington) opposition to the resolutions adopted at the Extraordinary Shareholders Meeting held on December 11th, 2006, when the merger of Vitro Plan, S.A. de C.V. (Vitro Plan) into Vimexico was approved.

As a result of this decision of the Second Collegiate Court for Civil Affairs of the Fourth Circuit, in accordance with article 200 of the Mexican General Law of Corporations, it has been ratified that all of the above mentioned resolutions are valid and binding for all shareholders, including those who voted against such resolutions.

In addition, the Collegiate Court confirmed the dismissal of all claims demanded by Pilkington in its original complaint and confirmed the validity of the merger of Vitro Plan into Viméxico approved at the Extraordinary Shareholders Meeting of the now extinct Vitro Plan. The company has been represented by the Mexican law firm Rivera Gaxiola y Asociados, S.C.

The Collegiate Court confirmed the decision to condemn Pilkington to pay Viméxico attorneys fees and expenses including those incurred during the appeals proceedings. Vimexico will timely file an incidental complaint to liquidate such fees and expenses.

The original opinion of counsel to Vimexico that the company shall also prevail in the separate lawsuit that Pilkington initiated in October 2007, claiming that the same Extraordinary Shareholders Meeting was null and void, has likewise been reinforced by this final and non appealable decision.

Source: Vitro S.A.B. de C.V. Author: shangyi

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