The Annual General Meeting of March 30, 2020 was held at the headquarters of BELIMO Holding AG in Hinwil (Switzerland) excluding personal attendance of all shareholders. Having regard to ordinance 2 on measures to prevent coronavirus (COVID-19) the Board of Directors decided to take this precautionary measure for the protection of its shareholders.
The independent proxy therefore represented 86.91 percent of voting share capital at 2020's Annual General Meeting. The shareholders approved all motions by the Board of Directors. They agreed to a dividend distribution of CHF 150.00 per share. The dividend will be paid out on April 3, 2020.
2019 Remuneration Report
The 2019 Remuneration Report containing details of the remuneration for the 2019 financial year was approved by a non-binding consultative vote. The shareholders discharged the members of the Board of Directors for their activities in the 2019 financial year.
The fixed remuneration of the Board of Directors and the fixed and variable remuneration of the Group Executive Committee for the 2020 financial year were approved.
Board of Directors re-elected
All incumbent members of the Board of Directors were re-elected for a further term of office of one year. The shareholders also elected Stefan Ranstrand as a new member of the Board of Directors. Patrick Burkhalter was confirmed as the Chairman of the Board of Directors and Dr. Martin Zwyssig as the Deputy Chairman. Furthermore, the shareholders elected Prof. Adrian Altenburger (lead) and Sandra Emme as members of the Remuneration Committee for the next term of office of one year.
Proxy Voting Services GmbH (Managing Director: Dr. René Schwarzenbach), Grossmünsterplatz 1, 8001 Zurich (Switzerland), was re-elected as an independent representative of voting rights and KPMG AG was also re-elected for a further term of office of one year as the auditor.