General Meeting approves all proposals

Zug, April 29, 2016 – At the 129th ordinary general meeting of shareholders of the Metall Zug AG, held today, the shareholders approved all the proposals of the Board of Directors. Shareholders will receive an ordinary cash dividend of CHF 39.00 per registered share type B and CHF 3.90 per registered share type A (gross). In addition a stock dividend in the form of treasury shares type B will be distributed. Per 60 shares type B or, respectively, 600 shares type A, shareholders will receive net one share type B allocated from the Company's own holding. Fractions are paid out in cash.

 

A total of 314 shareholders, representing 67.2% of the share capital, attended today's 129th ordinary general meeting of shareholders of Metall Zug AG, held at the Zugorama center in Zug, and approved all proposals submitted by the Board of Directors.

 

The general meeting of shareholders approved the 2015 annual report and financial statements as well as – on the basis of a consultative vote – the 2015 compensation report. The shareholders further agreed to the distribution of an ordinary cash dividend of CHF 39.00 gross per registered share type B and CHF 3.90 gross per registered share type A. In addition a stock dividend in the form of treasury shares type B will be distributed. Per 60 shares type B or, respectively, 600 shares type A, shareholders will receive one share type B allocated from the Company's own holding. The withholding tax on this stock dividend will be paid by the Company to the Federal Tax Administration and can in principle be recovered by the shareholders in whole or in part. Fractions are paid out in cash. Based on the volume weighted average price of the registered share B of April 28, 2016, in the amount of CHF 2907.5085, respectively CHF 2796.7958 ex-dividend, the stock dividend corresponds to a value of CHF 46.61 net per registered share B (plus withholding tax of CHF 25.10) and CHF 4.661 net per registered share A (plus withholding tax of CHF 2.510). The total value of the dividend – treasury shares are excluded – thus amounts to CHF 48'805'465. CHF 310'943 will be carried forward to the new account. The cash dividend will be distributed on May 6 and the stock dividend on May 10, 2016.

 

The current members of the Board of Directors, Heinz M. Buhofer, Marga Gyger, Dr. Peter Terwiesch and Martin Wipfli were confirmed for a further term of office of one year. Heinz M. Buhofer, member of the Board of Directors of Metall Zug AG since 1997, was confirmed as Chairman of the Board of Directors.

 

Furthermore, the general meeting of shareholders approved with a large majority the remuneration for the members of the Board of Directors until the next ordinary general meeting of shareholders and the fixed compensation for Senior Management for the year 2017, both prospectively. Finally, the general meeting of shareholders retrospectively approved the variable compensation of the Senior Management for the year 2015 with a large majority.

 

The next ordinary general meeting of the Metall Zug AG will take place on Friday, May 5, 2017, in Zug.

 
 

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