2020

14.05.2020 – VAT Group AG

VAT Group AG Annual General Meeting 2020: Shareholders approve all Board proposals

VAT Group AG Annual General Meeting 2020:
Shareholders approve all Board proposals

The shareholders of VAT Group AG approved all motions proposed by the Board of Directors at today’s Annual General Meeting, including the payout of a dividend of CHF 4.00 per share.

The meeting was held without the physical participation of shareholders, in line with Ordinance 2 issued by the Swiss Federal Council in March 2020 on measures to combat the coronavirus (COVID-19). Shareholders were asked to exercise their voting rights using an electronic platform or by written grant of Power of Attorney to the independent proxy. Shareholders also had the opportunity to submit questions or remarks to the Board of Directors, but none were received.

The meeting took place at VAT Group’s headquarters in Haag/SG in the presence of the independent proxy Roger Föhn, with Toni Wattenhofer representing the external auditor, KPMG. Also present were Dr. Martin Komischke, Chairman of the VAT Board and Benno Lichtsteiner, VAT’s Head of Legal & Compliance.

A total of 19’458’963 shares were represented by the independent proxy, representing 64.9 percent of the company’s share capital.

Daniel Lippuner elected as new member of the Board of Directors

Dr. Martin Komischke was re-elected as Chairman of the Board of Directors. Urs Leinhäuser, Karl Schlegel, Dr. Hermann Gerlinger, Heinz Kundert und Dr. Libo Zhang were confirmed as members of the Board of Directors for a further one-year term of office until completion of the AGM 2021. In addition, shareholders elected Mr. Daniel Lippuner to the Board of Directors as a new member, also for a one-year term.

Shareholders elected Dr. Martin Komischke, Karl Schlegel and Heinz Kundert to the Nomination and Compensation Committee.

Shareholders approved the payout of a dividend of CHF 4.00 per registered share, CHF 2.00 from accumulated gains and CHF 2.00 from reserves from capital contributions. The dividend will be paid on May 20, 2020. The last trading day with entitlement to receive a dividend is May 15, 2020 and VAT shares will be traded ex-dividend as of May 18, 2020. The shareholders also approved the 2019 annual report, VAT Group AG’s annual financial statements and the consolidated accounts.

The compensation report 2019 was endorsed by a large majority of shareholders in an advisory vote. Shareholders also approved in separate binding votes the short-term variable compensation (STI) of the Group Executive Committee for the financial year 2019, the total maximum amount of fixed compensation of the Group Executive Committee for the financial year 2021, the maximum amount of the long-term incentive (LTI) of the Group Executive Committee for the financial year 2021 and the total maximum amount of compensation for the members of the Board covering the next term until the Annual General Meeting 2021.

For further information, please contact:

VAT Group AG
Communications & Investor Relations
Michel R. Gerber
T +41 81 772 42 55

Financial calendar 2020

Ex-date

Monday, May 18, 2020

Dividend payment

Wednesday, May 20, 2020

Half-year 2020 results

Thursday, August 6, 2020

Q3 2020 trading update and Capital Markets Day

Thursday, October 15, 2020

ABOUT VAT

VAT is the leading global developer, manufacturer and supplier of high-end vacuum valves. VAT vacuum valves are mission-critical components for advanced manufacturing processes of innovative products used in daily life such as portable devices, flat screen monitors or solar panels. VAT is organized into three different reporting segments: Valves, Global Service and Industry offering high-end vacuum valves, multi-valve modules, edge-welded bellows and related value-added services for an array of vacuum applications. VAT Group is a global player with over 1’800 employees and main manufacturing sites in Haag (Switzerland), Penang (Malaysia) and Arad (Romania). Net sales in the financial year 2019 amounted to CHF 570 million.


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