Dutch semiconductor equipment maker ASM International NV (ASMI) should restart negotiations with shareholders Fursa and Hermes on the position of Chief Executive Chuck del Prado, a Dutch court ruled Wednesday.

The court also ruled against a vote by the ASMI Continuity Foundation on a proposal for an option to issue new preference shares at Thursday's shareholders meeting.

The ASMI Continuity Foundation already holds preference shares. It was established to provide protection against an unwanted takeover through a preference share mechanism.

For years, ASMI's management has been under pressure from activist shareholders Fursa and Hermes, which have urged the company to replace Chuck del Prado, the son of company founder and former chief executive Arthur del Prado, and to sell off its loss-making front-end operations.

-By Maarten van Tartwijk, Dow Jones Newswires; +31 20 571 5201; maarten.vantartwijk@dowjones.com