General Meeting of Emmi AG
All proposals approved – CHF 5.90 dividend confirmed
Lucerne, 20 April 2017 – At today’s General Meeting in Lucerne, the shareholders of Emmi AG approved all the proposals put forward by the Board of Directors. The meeting was attended by 1,341 shareholders, representing 4,420,642 of registered shares or 82.63 % of the share capital.
Konrad Graber, Chairman of the Board of Directors of Emmi AG, chaired the General Meeting at which all proposals of the Board of Directors were approved. The Management Report, the Consolidated Financial Statements and the 2016 Financial Statements of Emmi AG were approved and the members of the Board of Directors discharged (agenda items 1 and 2).
The shareholders approved the distribution of a dividend (exempt from withholding tax) of CHF 5.90 per registered share (previous year: CHF 4.90) from the capital contribution reserves (agenda item 3). This will be distributed on 26 April 2017.
Approval of the total amount of remuneration
The total amount of remuneration was also approved (agenda item 4). Furthermore, shareholders approved the maximum fixed remuneration of the Board of Directors and the Agricultural Council for financial year 2017, the maximum fixed remuneration of Group Management for financial year 2018 and the variable remuneration of Group Management for financial year 2016.
The shareholders approved the proposals of the Board of Directors regarding all items concerning the election to the Board of Directors (agenda item 5). All Board members were individually re-elected. Konrad Graber was also confirmed as the Chairman of the Board of Directors. The shareholders also approved the individual election of Konrad Graber, Stephan Baer and Thomas Oehen-Bühlmann to the Personnel and Compensation Committee.
The General Meeting voted on the statutory auditor (as previously: KPMG AG, Lucerne; agenda item 6) and the independent proxy (as previously: Pascal Engelberger, lawyer, Burger & Müller, Lucerne; agenda item 7), again in line with the proposals of the Board of Directors.
Confirmation of outlook for 2016
Konrad Graber, Chairman of Emmi’s Board of Directors, confirmed the 2017 outlook published in March: “The business environment remains very challenging. Further progress in the international markets, geographical expansion of the Operational Excellence programme and powerful brands will help Emmi to protect its position. The Swiss Market has an important role in this respect.”
The company also confirmed its March forecasts for organic sales growth and income in 2017: