Due to the corona crisis, the 133rd ordinary general meeting of Metall Zug AG was held on April 24, 2020, without the shareholders being physically present. A total of 1’003 shareholders, 79.05% of the share capital and 95.18% of the votes were represented by the independent voting representative. They approved all the proposals of the Board of Directors. The general meeting of shareholders approved the 2019 annual report and the annual and consolidated financial statements and – on the basis of a consultative vote – the 2019 compensation report. The shareholders then approved the appropriation of available earnings in 2019 as follows: distribution of a cash dividend in the amount of CHF 1.70 (gross) for each registered share of type A and CHF 17.00 (gross) for each registered share of type B. Therefore, the total value of the cash dividend distribution – no distribution is paid on treasury shares – is expected to be CHF 7,620,590. CHF 45,135,524 will be carried forward. The cash dividend will be paid on April 30, 2020. The general meeting also approved the distribution of a stock dividend in connection with the spin-off of the V-ZUG Group. One registered share of V-ZUG Holding AG will be allocated for each type A registered share and ten registered shares of V-ZUG Holding AG for each type B registered share. Each registered share of V-ZUG Holding AG will have a par value of CHF 0.27. Payment of the stock dividend and listing of the V-ZUG Holding AG share is planned for June 25, 2020. The existing members of the Board of Directors, Dominik Berchtold, Heinz M. Buhofer, Sandra Emme, Claudia Pletscher, Dr. Peter Terwiesch and Martin Wipfli were re-elected for a further term of office of one year. Marga Gyger retired from the Board of Directors in accordance with the term limits set down in the articles of association. Martin Wipfli, who has been a member of the Board of Directors of Metall Zug AG since 2010, was confirmed as Chairman of the Board of Directors. With a large majority, the general meeting of shareholders then approved – prospectively in both cases – the fees paid to members of the Board of Directors until the next ordinary general meeting of shareholders and the fixed compensation for Senior Management for the year 2021. The general meeting of shareholders also approved the variable compensation for Senior Management retrospectively for the 2019 financial year. The next ordinary general meeting of shareholders of Metall Zug AG will presumably take place on Friday, April 30, 2021, in Zug. New reporting segment "Other" Following the spin-off of the V-ZUG Group and thus the discontinuation of the Household Appliances Business Unit, the number of reporting segments is to be reduced to five. The current Life Science Solutions Business Unit, Gehrig Group AG and the Corporate reporting segment (Metall Zug AG) will be grouped together in the new reporting segment "Other". |