2020

07.04.2020 – SCHMOLZ+BICKENBACH AG

SCHMOLZ + BICKENBACH AG invites shareholders to the Annual General Meeting 2020

Media Release

SCHMOLZ + BICKENBACH AG invites shareholders to the Annual General Meeting 2020

  • Approval of the management report, annual financial statements and consolidated financial statements for 2019
  • Elections of the Board of Directors, Compensation Committee and auditors
  • Approval of future compensation for the Board of Directors and Group Executive Board
  • Application for authorized and conditional capital increase and amendment of the Articles of Association regarding composition of the Board of Directors

Lucerne, April 7, 2020 – SCHMOLZ + BICKENBACH, a global leader in special long steel, today invited its shareholders to this year's Annual General Meeting. The meeting will take place on April 28, 2020 at the Culture and Convention Center Lucerne, Europaplatz 1, Lucerne. The invitation was published with the information that, in view of the current situation regarding the corona virus, the company requests all shareholders not to attend the Annual General Meeting in person, but to have their shares represented by the independent proxy. The company reserves the right to take further measures from today until the Annual General Meeting, depending on how the situation develops and in particular if the ban on meetings is extended beyond April 19, 2020 in accordance with COVID 19 Ordinance 2.

The Board of Directors ("BoD") will present the management report, the annual financial statements and the consolidated financial statements 2019 for approval. In the course of the annual elections of the Board of Directors, SCHMOLZ + BICKENBACH AG proposes the re-election of the current Board members Jens Alder and Adrian Widmer. Jens Alder is also proposed for re-election as Chairman of the Board of Directors. The current members Martin Haefner (Vice Chairman of the Board of Directors), Michael Büchter, Isabel Corinna Knauf and Alexey Moskov will not stand for re-election. The following new members will be proposed to the shareholders for election to the BoD: Svein Richard Brandtzæg, Heinrich Christen, David Metzger, Dr. Michael Schwarzkopf, Karin Sonnenmoser and Jörg Walther.

The Annual General Meeting will also vote on the appropriation of the accumulated loss, the discharge of the members of the Board of Directors and the Executive Committee, and the election of the Compensation Committee, the auditors and the independent proxy. The remuneration report for the 2019 financial year will be submitted to the General Meeting for consultative approval. In application of the Ordinance against Excessive Remuneration of Listed Companies (VegüV), the remuneration of the Board of Directors and the Group Executive Board will be submitted to the General Meeting for prospective approval.

In addition, the Board of Directors proposes to the Annual General Meeting the creation of an authorized and a conditional share capital and includes two proposals concerning the Articles of Association on the agenda. These include an amendment to the Articles of Incorporation regarding the composition of the Board of Directors, and the repeal of certain provisions of the Articles of Incorporation.

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For further information:

Dr Ulrich Steiner

Vice President Corporate Communications, Investor Relations & CSR

Telephone +41 (0)41 581 4120

u.steiner@schmolz-bickenbach.com

www.schmolz-bickenbach.com

Link to invitation to the Annual General Meeting and to CVs of nominated new members of the Board of Directors:

https://www.schmolz-bickenbach.com/en/investor-relations/annual-general-meeting/

About SCHMOLZ + BICKENBACH

The SCHMOLZ + BICKENBACH Group is today one of the world's leading providers of individual solutions in the special long steel products sector. The Group is one of the leading manufacturers of tool steel and non-corrosive long steel on the global market and one of the two largest companies in Europe for alloyed and high-alloyed quality and engineering steels. With more than 10,000 employees and its own production and distribution companies in 30 countries on 5 continents, the company guarantees global support and supply for its customers and offers them a complete portfolio of production and sales & services around the world. Customers benefit from the company's technological expertise, consistently high product quality around the world as well as detailed knowledge of local markets.


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