Identive Group Inc.
SCM Microsystems, Inc. d.b.a. Identive Group: IDENTIVE GROUP ANNOUNCES RESULTS OF ITS 2010 ANNUAL GENERAL MEETING
SCM Microsystems, Inc. d.b.a. Identive Group / AGM/EGM 17.06.2010 03:18 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- CONVERSION OF LOAN AGREEMENT WITH MOUNTAIN PARTNERS AG SANTA ANA, Calif. and ISMANING, Germany, June 17, 2010 -Identive Group, Inc., formerly known as SCM Microsystems, Inc. (NASDAQ: INVE; Frankfurt Stock Exchange: INV), a provider of products, services and solutions for the security, identification and RFID industries, today announced results of this years annual meeting of stockholders that was held on June 16, 2010. A large majority of the shares present followed the proposals of the Board of Directors and voted for all proposals. In addition to the election of one director, shareholders approved the increase in common shares authorized from 60 million by 50 million to 110 million shares, the change of the company name from SCM Microsystems, Inc. to Identive Group, Inc., and the Company's 2010 Management Bonus and Incentive Plan. In May 2010, the Company's Board of Directors approved a loan conversion agreement with Mountain Partners AG. Mountain Partners provided a loan to Bluehill ID AG in August 2008, of which EUR 235,000 remained outstanding as of the date of conversion. Under the agreement, Mountain Partners agreed to accept 180,769 shares of common stock as payment in full for the outstanding balance, based upon a price per share equal to the closing price of the common stock on the NASDAQ Global Market per the date of the agreement. Contact: Fabien B. Nestmann +41 44 783 8043 fnestmann@identive-group.com 17.06.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: SCM Microsystems, Inc. d.b.a. Identive Group 1900 Carnegie Ave. Bldg. B CA 92705 Santa Ana Vereinigte Staaten von Amerika Phone: +49 89 9595-5000 Fax: +49 89 9595-5555 E-mail: ir@scmmicro.com Internet: www.scmmicro.com ISIN: US7840181033 WKN: 909247 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Hamburg, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------
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