Dec 24, 2012. /Lesprom Network/. The extraordinary General Meeting of the shareholders of Precious Woods Holding Ltd voted with an overwhelming majority to approve the proposals put forward by the Board of Directors, as the company said in a press release received by Lesprom Network. The shareholders approved a maximum ordinary capital increase of CHF 309,451 ($343,834) to CHF 3.7 million ($4.1 million) by issuing no more than 309 451 registered shares, to be fully paid in, with a nominal value of CHF 1 ($1.1) each. Conditional share capital will be increased to CHF 1.6 ($1.8), and authorized share capital to CHF 1.5 ($1.7). The proposed amendment to the Articles of Association was approved, with the result that the Chairman of the Board of Directors will now no longer be appointed by the Annual General Meeting but by the Board of Directors itself. No further proposals were submitted. Chairman Ernst A. Brugger was extremely pleased and optimistic: “We would like to thank all our shareholders for a result in which over 90% of the votes were in favour of securing liquidity reserves for our company over the medium term, and for expressing their trust in the Board of Directors and the Management in this way.” Precious Woods is an international company active in the sustainable management and use of tropical forests. The company’s core activities include sustainable management of tropical forests, timber processing and the trading of FSC-certified timber products.