"The takeover by Rank will be completed shortly," composite packaging manufacturer SIG Holding (Neuhausen / Switzerland; www.sig.biz) said in a report on its annual general meeting on 7 May 2007. At the meeting, shareholders approved all proposals of the board of directors, including the elimination of the restrictions on transfer of ownership and voting rights. This cleared the path for accepting the takeover offer by the Rank Group (Auckland / New Zealand) – see Plasteurope.com Web of 26.03.2007. In all, Rank now holds 98%.

At the same time, the shareholders elected a new board of directors. New members include Rank representatives Graeme Hart and Thomas Degnan as well as Rolf-Dieter Rademacher, SIG's current CEO, along with Jakob Höhn, a partner in the Zurich law office of Pestalozzi Lachenal Patry. Robert Lombardini was re-elected.