Annual General Meeting of APG|SGA: two new directors elected, no dividend payment owing to COVID-19 crisis

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14.05.20

During the Annual General Meeting of APG|SGA AG on 14 May 2020, shareholders approved all the Board of Directors' proposals by a clear majority. Maya Bundt and Jolanda Grob were elected as new members of the Board. No dividend will be paid for the 2019 financial year owing to the impact of the COVID-19 crisis.

In accordance with the Swiss government's COVID-19 Ordinance 2, and to protect shareholders and employees, the Annual General Meeting was conducted without attendees being physically present. Shareholders were able to exercise their rights through the independent proxy, either in writing or electronically. 88,7% of registered shares with voting rights were represented.

Maya Bundt and Jolanda Grob were elected as new, additional members of the Board. All members of the Board of Directors who stood for re-election were appointed for a further one-year term of office. The Board of Directors comprises Dr Daniel Hofer (Chairman), Dr Maya Bundt, Xavier le Clef, Jolanda Grob, Stéphane Prigent, Robert Schmidli (Vice-Chairman) and Markus Scheidegger. Robert Schmidli, Markus Scheidegger and Jolanda Grob were elected to the Board of Directors' Compensation Committee.

The Annual Report, financial statements and consolidated financial statements for 2019 were approved. The actions of the Board of Directors and Executive Board during the 2019 financial year were ratified. The remuneration for the Board of Directors and the fixed and variable remuneration for the Executive Board were approved with 94,7% of the votes.

With a consent of 97,6% the Annual General Meeting resolved to forego payment of a dividend for the 2019 financial year. In not taking a dividend, shareholders are showing solidarity by making an important contribution to overcoming the current crisis situation, which is hitting APG|SGA very hard.

The lockdown measures imposed by the authorities, and the resulting slump in business, are having a massive impact on the business model. Despite drastic cost-reduction measures, APG|SGA expects to see a substantial deterioration in its financial key figures for 2020. At present, it is not possible to reliably forecast what the full-year business performance is likely to be.

Contact
APG|SGA AG, Media Office
T+41 58 220 70 71, [e-mail]

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