18th Annual General Meeting of Schaffner Holding AG Shareholders meeting approve all proposals of the Board of Director
January 15, 2014 | by Schaffner Holding AG
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January 15, 2014, The 18th Annual General Meeting of Schaffner Holding AG held on 14 January 2014 approved all proposals put forward by the Board of Directors including the distribution of CHF 4.50 per dividend-bearing share. This will amount to a maximum distribution of CHF 2,852,019 (net), or 45 percent of the net profit for 2012/13. This payment from share premium reserve (exempt from Swiss anticipatory tax) will take place as from 21 January 2014 (ex-dividend trading: 16 January 2014; record date: 20 January 2014).
The shareholders also approved at this, the first Annual General Meeting to be conducted in compliance with the Ordinance Against Excessive Compensation in Listed Stock Companies 'VegüV', the re-election to the Board of Directors of existing members Suzanne Thoma, Herbert Bächler, Gerhard Pegam, Daniel Hirschi and Georg Wechsler as well as the election of Daniel Hirschi as Chairman of the Board of Directors, all of whom are appointed until the end of the next Annual General Meeting.
Likewise for the same period Suzanne Thoma, Herbert Bächler and Daniel Hirschi were elected to the Compensation Committee, and attorney-at-law and notary public Wolfgang Salzmann was appointed as the independent proxy. Ernst & Young AG, Berne, were elected as the statutory auditors for fiscal year 2013/14.
The 18th Annual General Meeting also approved numerous amendments to the Company's Articles of Association. These included a reduction in authorized unissued share capital by CHF 1,311,115, from CHF 2,351,115 to CHF 1,040,000, to reflect the lower amount of authorized unissued capital required upon expiry of parts of the option plan.
At the same time, the 'VegüV' necessitated a major revision of the Articles of Association; these amendments will take effect on their entry in the Commercial Register.
Contact:
Schaffner Holding AG
Nordstrasse 11
4542 Luterbach SO
Tel: 032 681 66 26
Fax: 032 681 66 30
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Source: Schaffner Holding AG, Press release