COLTENE HOLDING AG Media Release
Annual General Meeting - Shareholders Approve All Motions of the Board of Directors
Altstätten, April 2, 2020 - The Annual General Meeting of COLTENE Holding AG (SIX Swiss Exchange: CLTN) passed all motions proposed by the Board of Directors with a large majority. The shareholders approved the management report, the annual financial statements and the consolidated financial statements 2019 as well as the profit to be carried forward to the 2020 accounts. In addition, they voted for the proposed distribution of CHF 1.50 per share from capital contribution reserves with foreign reference. It is distributed tax-free to natural persons with tax domicile in Switzerland. Nick Huber (Chairman), Erwin Locher, Jürgen Rauch, Matthew Robin, Astrid Waser, Roland Weiger and Allison Zwingenberger were re-elected to the Board of Directors for a term of one year. Ernst & Young AG, St. Gallen, was confirmed as statutory auditor. Shareholders approved in a consultative vote the compensation report 2019 and in a binding vote the aggregate remuneration of the members of the Board and Executive Management for the financial year 2021.
In the invitation to the Annual General Meeting sent out on March 4, 2020, the Board of Directors proposed a distribution of CHF 3.00 per share from capital contribution reserves with foreign reference. In the meantime, the Board of Directors has dealt with the rapidly changing effects of the Corona crisis. The long-term consequences cannot be estimated at present. In this difficult market environment for the dental industry, the Board of Directors considers it a very important task to ensure liquidity even in the event of prolonged treatment restrictions by dental practices and the probable related decline in sales. The Board of Directors therefore proposed to the Annual General Meeting an amendment to agenda item 2.2 (distribution from capital contribution reserves), reducing the distribution from capital contribution reserves with foreign reference by half compared to the original proposal. The distribution of CHF 1.50 per registered share results in a yield of 1.7% based on the closing share price of CHF 88.80 (as per December 31, 2019) and will be paid on April 8, 2020 (Payment Date).
*****
Sign up for email updates from COLTENE Holding AG at www.coltene.com.
For further information: Gerhard Mahrle, CFO,
phone +41 71 757 54 37, mobile +41 79 346 23 02, e-mail gerhard.mahrle@coltene.com
| Provider | Channel | Contact | ||
|---|---|---|---|---|
|
EQS Group Ltd., Switzerland switzerland.eqs.com |
newsbox.ch www.newsbox.ch |
Provider/Channel related enquiries cs.switzerland@eqs.com +41 41 763 00 50 |
