Siegfried's Shareholders' Meeting Approves all Proposals of the Board of Directors
April 22, 2021
Siegfried Holding AG’s shareholders approved all proposals put forward by the Board of Directors. They approved the increase of the distribution to the shareholders in the form of a repayment of the nominal value of the shares from CHF 2.80 to CHF 3.00 per registered share, as well as the creation of authorized share capital. The shareholders approved the remuneration of the members of the Board of Directors and the Executive Committee.
In accordance with the COVID-19 Ordinance 3 of the Federal Council, the 118th ordinary Annual General Meeting was held without the physical presence of the shareholders. Voting was possible only via the independent voting proxy ahead of the Shareholders' Meeting. The event was transmitted via livestream. The Shareholders' Meeting passed the following resolutions:
The annual report, the annual financial statements and the consolidated financial statements for the 2020 financial year were approved.
The appropriation of the retained earnings as well as the reduction and repayment of the nominal value of the shares of CHF 3.00 per registered share and the distribution of the reduction amount to the eligible shareholders (instead of a dividend) were approved. The reduction amount will be paid out to the shareholders on 9 July 2021 following the statutory capital reduction procedure. The payment will be made to the shareholders holding the Siegfried shares on the day preceding payment (Record Date). Hence, shareholders acquiring shares by no later than 6 July 2021 (Cum Date) on the stock exchange are entitled to receive payment.
The Board of Directors was granted discharge.
Approval was given to the creation of authorized share capital amounting to approximately 10 percent of the share capital.
The maximum remuneration of the Board of Directors for the coming term of office, the maximum fixed remuneration of the Executive Committee for the 2022 financial year, the short-term performance-related remuneration for the 2020 financial year, and the long-term performance-related remuneration of the Executive Committee for the current financial year in the form of performance share units were approved.
The existing members of the Board of Directors – Ulla Schmidt, Isabelle Welton, Colin Bond, Prof. Dr. Wolfram Carius, Dr. Andreas Casutt, Reto Garzetti and Dr. Martin Schmid – were reelected for a further term of office.
Dr. Andreas Casutt was confirmed as Chairman of the Board.
The Remuneration Committee continues to consist of Isabelle Welton, Reto Garzetti and Dr. Martin Schmid.
Rolf Freiermuth, attorney-at-law in Zofingen, and PricewaterhouseCoopers AG, Basel, were confirmed as independent voting proxy and external auditors, respectively.
The Siegfried Group is a global life sciences company with sites in Switzerland, Germany, Spain, France, Malta, the USA and China. In 2020, the Siegfried group achieved sales of CHF 845.1 million and employs approximately 3'500 people at eleven sites on three continents. Siegfried Holding AG is publicly listed on SIX Swiss Exchange (SIX: SFZN).
Siegfried is active in manufacturing pharmaceutical APIs (and their intermediates) as well as drug products (tablets, capsules, sterile vials, ampoules, cartridges and ointments) for the pharmaceutical industry and provides development services.
This media release includes statements concerning the future. They are based on assumptions and expectations that may prove to be wrong. They should be considered with due caution as, by definition, they contain known and unknown risks, insecurities and other factors which could result in a difference in the actual results, financial situation, developments or the success of Siegfried Holding AG or Siegfried Group from the explicit or implicit assumptions made in these statements.