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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Comet Holding AG    COTN   CH0360826991

COMET HOLDING AG

(COTN)
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Annual General Meeting of Comet Holding AG – Proxy advisors GLASS LEWIS, ETHOS and ACTARES support election proposals of the Board of Directors

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04/12/2019 | 08:35am EDT

Annual General Meeting of Comet Holding AG - Proxy advisors GLASS LEWIS, ETHOS and ACTARES support election proposals of the Board of Directors

The Swiss proxy advisors ETHOS and ACTARES as well as the Anglo-Saxon proxy advisor GLASS LEWIS support all election proposals of the Board of Directors for the Annual General Meeting 2019 and are against the candidates of the activist Veraison.

In particular, all three proxy advisors recommend that shareholders elect Christoph Kutter to both the Board of Directors and as Chairman of the Board of Directors. Both, Glass Lewis and Ethos also underline the Board's thorough and professional selection process to nominate a successor for Hans Hess as Chairman of the Board. All three proxy advisors recommend to the shareholders not to elect the candidate of the activist shareholder Veraison (Heinz Kundert) as a member or Chairman of the Board of Directors. Additionally, they argue that the term limit of three years due to the age of 67 of the candidate of Veraison SICAV based on the articles of association would be very short. ISS supports all candidates of the Board of Directors, including Christoph Kutter, but proposes Heinz Kundert for the Chair.

Glass Lewis and Ethos also emphasise the importance of a well-functioning Board of Directors with competent and independent personalities for the promising strategic development of the company. They attest the company to having generated an impressive increase in value for its shareholders over a long period of time and to having quickly implemented appropriate measures on the issues in 2018 - even before Veraison became a shareholder of the company.

The Board of Directors is pleased to propose to the Annual General Meeting on April 25, 2019 four existing and two new proven experts and personalities with the necessary experience and skills to be elected to the Board of Directors, who will implement a promising strategy for the Swiss technology leader Comet Group.

Contact
Ines Najorka
Corporate Communications
T +41 31 744 99 96

ines.najorka@comet.ch

Company Calendar

April 25, 2019: General Assembly

August 15, 2019: Presentation Half Year Results

Comet Group
The Comet Group is a globally leading, innovative Swiss technology company focused on the x-ray, radio frequency and ebeam businesses. With premium high-tech components and systems, we enable customers in numerous industries to both enhance the quality of their products and make their manufacturing more efficient and eco-friendly. Our innovative solutions under the Comet, Yxlon and ebeam brands are in demand for applications such as non-destructive testing and security inspection, the coating and treatment of surfaces, and non-contact sterilization.

Based in Flamatt, Switzerland, the Comet Group has a presence in all world markets. We employ more than 1,400 people worldwide, including over 500 in Switzerland. Besides production facilities in China, Denmark, Germany, Switzerland and the USA, we maintain various subsidiaries in the USA, China, Japan and Korea. Comet (COTN) is listed on the SIX Swiss Exchange.




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EQS Group Ltd., Switzerland
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Financials (CHF)
Sales 2019 364 M
EBIT 2019 9,30 M
Net income 2019 6,75 M
Debt 2019 43,3 M
Yield 2019 1,44%
P/E ratio 2019 137x
P/E ratio 2020 28,6x
EV / Sales2019 1,90x
EV / Sales2020 1,70x
Capitalization 648 M
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Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 91,00  CHF
Last Close Price 83,50  CHF
Spread / Highest target 21,0%
Spread / Average Target 8,98%
Spread / Lowest Target -1,80%
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