PRESS RELEASE | SHAREHOLDERS APPROVE ALL PROPOSALS PUT FORWARD BY
THE BOARD OF DIRECTORS AT GENERAL MEETING
Zurich, 31 March 2022
Leonteq AG (SIX: LEON) shareholders today agreed to all the proposals put forward by the Board of Directors with very strong majorities of at least 92.9% of the represented shares.
In accordance with the COVID-19 Ordinance 3 of the Swiss Federal Council, the Annual General Meeting 2022 was held without shareholders being physically present. Accordingly, shareholders exercised their shareholder rights via the independent proxy who represented 73.46% of the total 18,934,097 shares.
All eight members of the Board of Directors proposed for re-election were elected for a further term of office of one year. In addition, Christopher M. Chambers was re-elected as Chairman of the Board of Directors for a term of office of one year. Shareholders approved the re-election of Susana Gomez Smith, Richard A. Laxer and Philippe Weber as members of the Nomination and Remuneration Committee for a further term of office of one year.
For the financial year 2021, shareholders approved the proposal to increase the distribution by 300% to CHF 3.00 per share. The distribution to shareholders for 2021 represents a payout ratio of 36% of net profits, which is to be paid in equal amounts out of retained earnings and reserves from capital contributions. As previously announced, Leonteq is transitioning towards a progressive dividend policy and expects to pay out more than 50% of net profits from the financial year 2022 onwards. This underscores the Boards' confidence in the company's ability to generate attractive and sustainable returns over time.
Shareholders also approved the proposal to elect Deloitte AG as the new statutory auditor for the financial year 2022. External Audit forms an integral part of Leonteq's corporate governance framework and plays a key role by providing an independent assessment of operations and the internal control framework. With the change of its external auditor, Leonteq has demonstrated its commitment to good corporate governance.
In four separate binding votes, shareholders approved the maximum compensation of the Board of Directors for the period up to the next Annual General Meeting, the short-term variable compensation of the Executive Committee for the financial year 2021 and the maximum fixed compensation as well as the maximum long-term variable compensation of the Executive Committee for the financial year 2023. In an advisory vote, shareholders also approved the Compensation Report 2021.
For further details of the voting results for all proposals presented at the Annual General Meeting 2022, please visit Leonteq's website at www.leonteq.com/agm.
04 April 2022 Ex-dividend date
05 April 2022 Record date
06 April 2022 Payment date
21 July 2022 Half-year 2022 results
+41 58 800 1844
+41 58 800 1855
Leonteq is a Swiss fintech company with a leading marketplace for structured investment solutions. Based on proprietary modern technology, the company offers derivative investment products and services and predominantly covers the capital protection, yield enhancement and participation product classes. Leonteq acts as both a direct issuer of its own products and as a partner to other financial institutions. Leonteq further enables life insurance companies and banks to produce capital-efficient, unit-linked pension products with guarantees. The company has offices and subsidiaries in 13 countries, through which it serves over 50 markets. Leonteq AG is listed on the SIX Swiss Exchange (SIX: LEON).
This press release issued by Leonteq AG (the "Company") serves for information purposes only and does not constitute research. This press release and all materials, documents and information used therein or distributed in the context of this press release do not constitute or form part of and should not be construed as, an offer (public or private) to sell or a solicitation of offers (public or private) to purchase or subscribe for shares or other securities of the Company or any of its affiliates or subsidiaries in any jurisdiction or an inducement to enter into investment activity in any jurisdiction, and may not be used for such purposes. Copies of this press release may not be made available (directly or indirectly) to any person in relation to whom the making available of the press release is restricted or prohibited by law or sent to countries, or distributed in or from countries, to, in or from which this is restricted or prohibited by law.
This press release may contain specific forward-looking statements, e.g. statements including terms like "believe", "assume", "expect", "target" "forecast", "project", "may", "could", "might", "will" or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the Company or any of its affiliates or subsidiaries and those explicitly or implicitly presumed in these statements. These factors include, but are not limited to: (1) general market, macroeconomic, governmental and regulatory trends, (2) movements in securities markets, exchange rates and interest rates and (3) other risks and uncertainties inherent in our business. In addition, currently, it is very difficult to provide a meaningful prediction on how the governmental actions in response to the ongoing outbreak of a novel coronavirus disease (COVID-19) and other COVID-19 related factors will affect Leonteq's operations and how long such measures will remain in place. The COVID-19 outbreak has caused, and may continue to cause, uncertainty, economic instability and a significant decrease of total economic output in the affected areas and globally. The impact of the COVID-19 outbreak on the general economic environment in the markets in which Leonteq operates remain uncertain and could be significant. Against the background of these uncertainties, you should not rely on forward-looking statements. Neither the Company nor any of its affiliates or subsidiaries or their respective bodies, executives, employees and advisers assume any responsibility to prepare or disseminate any supplement, amendment, update or revision to any of the information, opinions or forward-looking statements contained in this press release or to adapt them to any change in events, conditions or circumstances, except as required by applicable law or regulation.