Elma Electronic : Media release 18.04.2024

Media Release

Annual General Meeting 2024 approves all proposals

Wetzikon/Switzerland, April 18, 2024 - The Annual General Meeting of Elma Electronic AG approved all agenda items and proposals put forward by the Board of Directors by a large majority. The meeting was attended by shareholders and shareholder representatives accounting for 149'992 shares or 65.64% of the registered share capital of Elma.

The Annual General Meeting approved the 2023 Annual Report, the annual financial statements as well as the consolidated financial statements and approved the Compensation Report and the Sustainability Report in a consultative vote. The members of the Board of Directors and the Group Management were granted discharge. In addition, the Annual General Meeting voted by a majority to approve the appropriation of the accumulated earnings for 2023 and a dividend distribution of CHF 2.00 per share.

The proposal for total compensation paid to members of the Board of Directors for the period between the 2024 and 2025 Annual General Meetings was approved, as was the total compensation for the Group Management in the financial year 2025.

In 2024, the Board members Peter Hotz and Fred Ruegg have reached the age limit defined in the company's articles of association and therefore did not stand for re-election at the 2024 Annual General Meeting. The previous three members of the Board of Directors, Martin Wipfli (Chairman), Walter Häusermann und Bruno Cathomen were all confirmed for a further term by a large majority. Andy Egger was elected as a new and fourth member of the Board.

The shareholders elected the members of the Compensation Committee, Bruno Cathomen (current) and Andy Egger (new). The law firm MLL Meyerlustenberger Lachenal Froriep AG was elected as independent proxy for another one-year term. BDO AG was re-elected as the external auditor for the financial year 2024 until completion of the next ordinary Annual General Meeting.

The detailed voting results will be published on the company's website in the next few days at www.elma.com/investors/.

Contacts:

Elma Electronic AG

Hofstrasse 93

CH-8620 Wetzikon

Martin Wipfli	Thomas Herrmann
Chairman	CEO Elma Group
Tel. [phone]	Tel. [phone]
	[e-mail]

About Elma

Elma Electronic is a global manufacturer of electronic packaging products for the embedded systems market

• from components, backplanes, power supply solutions, storage boards and chassis platforms to fully integrated systems. To ensure our integrated solutions are optimized to our customers' needs, Elma partners with leading board manufacturers in the industry. Elma also provides enclosure solutions and rotary switches for demanding applications for electronic companies. The company has a broad base of proven standard products which can be tailored to individual applications: Elma offers services from the initial concept to volume production. Elma's reliable solutions, flexibility, and design expertise are key reasons why the leading companies in the world choose Elma time and again.
  Please visit our website: www.elma.com

Disclaimer

This communication contains statements that constitute "forward-looking statements". In this communication, such forward-looking statements include, without limitation, statements relating to our financial condition, results of operations and business and certain of our strategic plans and objectives. Because these forward-looking statements are subject to risks and uncertainties, actual future results may differ materially from those expressed in or implied by the statements. Many of these risks and uncertainties relate to factors which are beyond Elma's ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behaviour of other market participants, the actions of governmental regulators and other risk factors detailed in Elma's past and future filings and reports and in past and future filings, press releases, reports and other information posted on Elma Group companies' websites. Readers are cautioned not to put undue reliance on forward-looking statements, which speak only of the date of this communication. Elma disclaims any intention or obligation to update and revise any forward-looking statements, whether as a result of new information, future events or otherwise.

This Media Release is published in German and in English. Should the English translation differ from the German original, the German version is binding.