A total of 301 shareholders, representing 68.3% of the share capital, attended today's 130th ordinary general meeting of shareholders of Metall Zug AG, held at the ZUGORAMA in Zug, and approved all proposals submitted by the Board of Directors.
The general meeting of shareholders approved the 2016 annual report and financial statements as well as – on the basis of a consultative vote – the 2016 compensation report. The shareholders further agreed to the distribution of a dividend of CHF 7.00 gross per registered share type A and CHF 70.00 gross per registered share type B. The total value of the dividend – treasury shares are excluded – thus amounts to CHF 31,416,630. CHF 4,411,877 will be carried forward to the new account. The dividend will be distributed on May 11, 2017.
The current members of the Board of Directors, Heinz M. Buhofer, Marga Gyger, Dr. Peter Terwiesch and Martin Wipfli were confirmed for a further term of office of one year. Heinz M. Buhofer, member of the Board of Directors of Metall Zug AG since 1997, was confirmed as Chairman of the Board of Directors.
Furthermore, the general meeting of shareholders approved by a large majority the remuneration for the members of the Board of Directors until the next ordinary general meeting of shareholders and the fixed compensation for Senior Management for the year 2018, both prospectively. The general meeting of shareholders also retrospectively approved the variable compensation of the Senior Management for the year 2016 by a large majority.
Finally, the amendments to the Articles of Association in line with changes made to the Swiss Code of Obligations following implementation of the revised recommendations of the Financial Action Task Force (FATF) as well as additional changes and formal modifications of the Articles of Association were approved.
The next ordinary general meeting of the Metall Zug AG will take place on Friday, May 4, 2018, in Zug.