2020-04-16-Elma AGM approves all proposals by BOD (PDF)
Wetzikon/Switzerland, April 16, 2020 - The Annual General Meeting of Elma Electronic AG approved all agenda items and proposals put forward by the Board of Directors.
The Annual General Meeting of April 16, 2020 was held at the headquarters of Elma Electronic AG in Wetzikon, Switzerland, without the physical attendance of shareholders. Based on Art. 6a of COVID-19 Ordinance 2 on measures to prevent the spread of the coronavirus, the Board of Directors decided to take this precautionary measure to protect their shareholders. At this year's Annual General Meeting, the independent proxy therefore represented 133'140 shares or 58.27% of the registered share capital of Elma.
The Annual General Meeting approved the Annual Report as well as the annual financial statements and the consolidated financial statements for the financial year 2019. In addition, the Annual General Meeting approved the appropriation of the accumulated earnings for 2019. It decided to forego the payment of a dividend. The members of the Board of Directors and the Group Management were granted discharge.
The proposal for overall compensation of the Board of Directors for the period between the 2020 and 2021 Annual General Meetings was approved, as was the overall compensation of the Group Management for the financial year 2021.
All previous four members of the Board of Directors, Martin Wipfli, Walter Häusermann, Rudolf W. Weber and Peter Hotz, were re-elected, each for a term of office of one year extending until completion of the next ordinary Annual General Meeting, as was the Chairman of the Board of Directors, Martin Wipfli. Fred Ruegg was elected as a new and fifth member of the Board. The shareholders elected the members of the Compensation Committee, Rudolf W. Weber and Peter Hotz. The law firm FRORIEP Legal AG was re-elected as independent proxy for a one year term extending until completion of the next ordinary Annual General Meeting. PricewaterhouseCoopers AG was re-elected as the external auditor for the financial year 2020 until completion of the next ordinary Annual General Meeting.
Elma Electronic AG
Martin Wipfli Thomas Herrmann
Chairman CEO Elma Group
Tel. +41 44 933 42 91 Tel. +41 44 933 43 04
Elma Electronic is a global manufacturer of electronic packaging products for the embedded systems market - from components, backplanes, power supply solutions, storage boards and chassis platforms to fully integrated systems. To ensure our integrated solutions are optimized to our customers' needs, Elma partners with leading board manufacturers in the industry. Elma also provides enclosure solutions and rotary switches for demanding applications for electronic companies. The company has a broad base of proven standard products which can be tailored to individual applications: Elma offers services from the initial concept to volume production. Elma's reliable solutions, flexibility, and design expertise are key reasons why the leading companies in the world choose Elma time and again.
Please visit our website: www.elma.com
This communication contains statements that constitute 'forward-looking statements'. In this communication, such forward-looking statements include, without limitation, statements relating to our financial condition, results of operations and business and certain of our strategic plans and objectives. Because these forward-looking statements are subject to risks and uncertainties, actual future results may differ materially from those expressed in or implied by the statements. Many of these risks and uncertainties relate to factors which are beyond Elma's ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behavior of other market participants, the actions of governmental regulators and other risk factors detailed in Elma's past and future filings and reports and in past and future filings, press releases, reports and other information posted on Elma Group companies' websites. Readers are cautioned not to put undue reliance on forward-looking statements, which speak only of the date of this communication. Elma disclaims any intention or obligation to update and revise any forward-looking statements, whether as a result of new information, future events or otherwise.