Mar 13, 2014 - Emmen
Annual General Meeting of ALSO Holding AG: Shareholders approve all proposals of the Board of Directors
At the Annual General Meeting of ALSO Holding AG held in Lucerne, Switzerland, on March 13, 2014, the shareholders approved the Annual Report (including status report and compensation report) as well as the consolidated financial statements and financial statements for 2013, and the Board of Directors and Group Management were granted discharge for their activities in fiscal year 2013.
ALSO Holding AG closed fiscal year 2013 with a net profit of CHF 55.5 million. With retained earnings brought forward from the previous year, and after the dissolution of reserves from contribution in kind, retained earnings amounted to CHF 146.8 million. The shareholders approved the proposal for the appropriation of retained earnings, according to which they receive CHF 1.40 per registered share from the reserve from contribution in kind. The residual retained earnings of CHF 128.9 million will be carried forward to the new account. The distribution from reserves from contribution in kind will be paid out from March 20, 2014, and is not subject to Swiss withholding tax or income tax for individuals resident in Switzerland who hold their shares as private assets.
The shareholders also approved the proposal of the Board of Directors to adapt the Articles of Association to the Ordinance Against Excessive Compensation in Listed Companies (VegüV).
At the first General Meeting to be held under VegüV, former members of the Board of Directors Walter P.J. Droege, Prof. Dr. Karl Hofstetter, Prof. Dr. Rudolf Marty, and Frank Tanski were re-elected. The General Meeting elected Prof. Dr. Peter Athanas, Dr. Olaf Berlien, and Prof. Dr. Gustavo Möller-Hergt as new members of the Board of Directors, and approved the election of Prof. Dr. Gustavo Möller-Hergt as Chairman of the Board of Directors. Prof. Dr. Peter Athanas, Walter P.J. Droege, and Frank Tanski were elected members of the Compensation Committee, and Dr. iur. Adrian von Segesser, Attorney at Law and Notary Public, Lucerne, Switzerland, was appointed Independent Proxy. The term of office for all of these individuals runs until closure of the next annual general meeting.
The shareholders also elected PricewaterhouseCoopers AG, Lucerne, Switzerland, as statutory auditor of the company for fiscal year 2014.