LEM shareholders approve all AGM resolutions

Fribourg, Switzerland, 10 June 2020 - LEM (SIX: LEHN), a leading global company in electrical measurement for industry and automotive applications, announces that all resolutions were approved by shareholders at yesterday's Annual General Meeting held in Fribourg. The gross dividend of CHF 40.00 per share will be paid on 18 June 2020.

Shareholders owning a total of 777,138 shares, representing 68.17% of the share capital, cast their vote. A strong majority followed the Board of Directors' recommendations and approved all the resolutions, the main ones being:

  • Approval of the management report, the consolidated financial statements of the LEM Group and the annual financial statements of LEM HOLDING SA as at 31 March 2020.
  • Appropriation of available earnings, and distribution of an ordinary dividend of CHF 40.00 per share, the net amount after Swiss withholding tax being CHF 26.00 payable on 18 June 2020.
  • Approval of the compensation of the Board of Directors and the Executive Management.
  • Re-election of all six members of the Board for a term of one year, including the role of Chairman, and membership of the Nomination & Compensation Committee.
  • Amendment to the Articles of Incorporation, moving the registered office from Fribourg to Geneva.

The minutes of the AGM will be published on LEM's website as soon as they are available.

Andreas Hürlimann, Chairman, said: "LEM has delivered another year of steady results which are encouraging given the tough environment it has faced. The company benefits from the global diversity of its business across sectors and regions, with recognized heritage and market leadership, a steady flow of orders, robust margins, a strong balance sheet and healthy cash flow.

On behalf of the entire Board of Directors and the Executive Management, I thank shareholders for the confidence they have placed in us. Special thanks go to our employees worldwide for their expertise, reliability and innovative solutions. In particular we are very proud of how our teams have responded to the Covid-19 pandemic in recent months, using their resilience and creativity to keep delivering products and projects on time. I would also like to extend our gratitude to our customers, suppliers and business partners for their continued trust, wishing you all good health and a successful navigation of the unprecedented challenges ahead."

Financial calendar

The financial year runs from 1 April to 31 March

16 June 2020

Dividend ex-date

18 June 2020

Dividend payment date

29 July 2020

First-quarter results 2020/21

3 November 2020

Half-year results 2020/21

4 February 2021

Third-quarter results 2020/21

19 May 2021

Year-end results 2020/21

24 June 2021

Annual General Meeting of Shareholders for the financial year 2020/21

1 July 2021

Dividend ex-date

6 July 2021

Dividend payment date

LEM - Life Energy Motion

A leading company in electrical measurement, LEM engineers the best solutions for energy and mobility, ensuring that our customers' systems are optimized, reliable and safe.

Our 1,500 people in over 15 countries transform technology potential into powerful answers. We develop and recruit the best global talent, working at the forefront of mega trends such as renewable energy, mobility, automation and digitization.

With innovative electrical solutions, we are helping our customers and society accelerate the transition to a sustainable future.

Listed on the SIX Swiss Exchange since 1986, the company's ticker symbol is LEHN.

www.lem.com

Contact: Investment community

Andrea Borla, Chief Financial Officer

Phone: +41 22 706 1250

Email: investor@lem.com

Contact: Media

Cabinet Privé de Conseils s.a. (CPC)

Nick Miles, miles@cpc-pr.com, mobile +41 79 678 76 26

Michael Füglister, fuglister@cpc-pr.com, mobile +41 78 839 07 62

ATTACHMENT:


Press release (PDF): LEM Annual General Meeting



Provider
Channel
Contact
EQS Group Ltd., Switzerland
switzerland.eqs.com


newsbox.ch
www.newsbox.ch


Provider/Channel related enquiries
cs.switzerland@eqs.com
+41 41 763 00 50