2020

28.04.2020 – SCHMOLZ+BICKENBACH AG

SCHMOLZ + BICKENBACH AG - Shareholders approve all agenda items of the Annual General Meeting 2020

Media Release

SCHMOLZ + BICKENBACH AG - Shareholders approve all agenda items of the Annual General Meeting 2020

  • Jens Alder re-elected as Chairman of the Board of Directors, Adrian Widmer confirmed as member of the Board of Directors
  • All six new candidates proposed to the Board of Directors elected
  • All agenda items and proposals of the Board of Directors approved

Lucerne, April 28, 2020 – SCHMOLZ + BICKENBACH AG, a world leader in special long steel, today held its Annual General Meeting excluding shareholders in accordance with the COVID-19 Regulation 2 of the Swiss Federal Council. 88% of share capital of SCHMOLZ + BICKENBACH with voting rights have used the option to be represented by the independent proxy, the law firm Burger & Müller, Lucerne. All candidates standing for election to the Board of Directors were elected and all proposals of the Board of Directors were approved.

All members of the Board of Directors and the Executive Board were granted discharge from liability for the past business year. The previous Chairman of the Board of Directors, Jens Alder, was confirmed for another year. Adrian Widmer, former member of the Board of Directors, was also re-elected. Newly elected to the Board of Directors were Svein Richard Brandtzæg, Heinrich Christen, David Metzger, Dr. Michael Schwarzkopf, Karin Sonnenmoser and Jörg Walther, who were nominated by the Board of Directors. The Compensation Committee consists of the former member Jens Alder and the new Board members Svein Richard Brandtzaeg and Heinrich Christen.

The Annual General Meeting approved the proposed total compensation for the members of the Board of Directors and the members of the Executive Board. The AGM also approved the creation of authorized and conditional share capital. In addition to the confirmation of Ernst & Young, Zurich, as auditors for a further year, the law firm Burger & Müller, Lucerne, was confirmed as an independent proxy.

Chairman of the Board of Directors Jens Alder: "We would like to thank our shareholders for their loyalty to the company in 2019 and are pleased that, despite their absence, they made active use of their voting rights and approved the proposals of the Board of Directors. Together with my colleagues on the Board of Directors and with the Executive Board, we will do everything in our power in 2020 to drive the transformation of the company forward that has been initiated following the successful refinancing. We hope to be able to report in spring 2021 on the progress made in the normal course of the Annual General Meeting.”

– END

For further information:

Daniel Geiger

Vice President Investor Relations, CSR,

Corporate Accounting & Communications

Telephone +41 (0)41 581 4160

d.geiger@schmolz-bickenbach.com

www.schmolz-bickenbach.com

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 constructional steel. 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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