ZUG ESTATES HOLDING AG Press release
April 10, 2018
General meeting of shareholders of Zug Estates Holding AG approves all proposals of the board of directors
Today, the sixth ordinary general meeting of shareholders of Zug Estates Holding AG was held at the Theater Casino Zug. It was attended by 289 shareholders representing a total of 69.8% of share capital conferring voting rights.
The shareholders approved all proposals of the board of directors.
In particular, the general meeting resolved that a total of CHF 12.9 million be distributed to shareholders for the 2017 financial year. For each series A registered share, CHF 2.05 will be paid out of capital contribution reserves, plus CHF 0.50 in the form of a gross dividend. The distribution from capital reserves for series B registered shares amounts to CHF 20.50, with a gross dividend of CHF 5.00. The payout will take place on Wednesday, April 18, 2018 (ex-date: April 16, 2018), with a deduction for withholding tax of 35% on the portion corresponding to the gross dividend.
All members of the board of directors standing for reelection were confirmed for a further one-year term of office. Dr. Beat Schwab was also reelected as chairman of the board of directors. Armin Meier and Martin Wipfli were confirmed as members of the Nomination and Compensation Committee. Heinz M. Buhofer did not stand for reelection. Elected on to the board for the first time was Zug-based entrepreneur Johannes Stöckli.
In a consultative vote, the general meeting of shareholders declared its agreement with the compensation report and approved the remuneration to the members of the board of directors and the Group Management.
The general meeting of shareholders also approved all amendments to the company's articles of association - namely, formal adjustments made necessary by changes in legislation, increased restrictions on the transferability of shares as a safeguard against foreign control, and simplification of the provisions governing invitations to the general meeting of shareholders. On March 19, 2018, the board of directors announced to shareholders with series A registered shares an offer to convert their series A shares (shares with voting rights) into series B registered shares at a ratio of 10:1. During the conversion period from March 22 to April 6, 2018, shareholders accounting for a total of 1'452'040 series A registered shares availed themselves of this offer (see press release dated April 6, 2018). The general meeting of shareholders approved this conversion.
The seventh ordinary general meeting of shareholders of Zug Estates Holding AG will take place on April 9, 2019.
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