Extraordinary general meeting with regard to capital increase through conversion of capital contribution reserves (nominal value increase)
Thalwil, Switzerland - November 8, 2019 - u-blox (SIX:UBXN; OTC: UBLXF), a leading global provider of positioning and wireless communications technologies, today announced the date for an extraordinary general meeting of shareholders. The extraordinary general meeting will take place on 12. December, at 14:00 CET, in the Tischenloostrasse 55, Thalwil.
In connection with Tax Reform III and the resulting changes to the tax law decided by the Canton of Zurich, the possibility of distributing dividends from capital investment reserves without withholding tax will be reduced to 50%. In order to enable shareholders to continue to receive tax-free dividends in the future, capital reserves are to be converted into nominal value. This will increase the share capital. After 1 January 2020, this nominal value increase will again offer the possibility of distributing withholding tax-free dividends to shareholders in the form of nominal value repayments.
In addition, this extraordinary general meeting is to be used to restore the authorized capital that expired at the end of 2018 in order to allow the company the chance for any possible future acquisitions.
u-blox (SIX:UBXN) is a global provider of leading positioning and wireless communication technologies for the automotive, industrial, and consumer markets. Their solutions let people, vehicles, and machines determine their precise position and communicate wirelessly over cellular and short-range networks. With a broad portfolio of chips, modules, and a growing ecosystem of products supporting data services, u-blox is uniquely positioned to empower its customers to develop innovative solutions for the Internet of Things, quickly and cost-effectively. With headquarters in Thalwil, Switzerland, the company is globally present with offices in Europe, Asia, and the USA.
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Analyst day: November 20, 2019
Full year results 2019: March 13, 2020 Annual General Meeting: April 23, 2020
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This release contains certain forward-looking statements. Such forward-looking statements reflect the current views of management and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the u-blox Group to differ materially from those expressed or implied. These include risks related to the success of and demand for the Group's products, the potential for the Group's products to become obsolete, the Group's ability to defend its intellectual property, the Group's ability to develop and commercialize new products in a timely manner, the dynamic and competitive environment in which the Group operates, the regulatory environment, changes in currency exchange rates, the Group's ability to generate revenues and profitability, and the Group's ability to realize its expansion projects in a timely manner. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this report. u-blox is providing the information in this release as of this date and does not undertake any obligation to update any forward-looking statements contained in it as a result of new information, future events or otherwise.
This press release is published in German and English. Should the German translation differ from the English original, the English version is binding.