HOCHDORF Holding Ltd: Information about the Annual General Meeting on 30 June 2020

[ Report ]

Hochdorf (pta007/05.06.2020/07:00) - HOCHDORF Holding Ltd today issued its invitation to the Annual General Meeting. At the AGM on 30 June the following candidates are standing for election to the HOCHDORF Holding Ltd Board of Directors: Markus Bühlmann (re-election), Jürg Oleas, Andreas Herzog, Jean-Philippe Rochat and Ralph Siegl (all first-time candidates). The Board of Directors also decided to include a minority shareholder request for a special audit on the AGM agenda.

The HOCHDORF Holding Ltd AGM, which was postponed to 30 June 2020, will take place without shareholder attendance on account of the coronavirus pandemic. Voting will take place electronically and via postal votes using an independent proxy.

Candidates for election to the Board of Directors
As previously announced on 18 February 2020, the following members of the Board of Directors are standing down: Bernhard Merki, Jörg Riboni, Markus Kalberer and Dr Walter Locher.

In selecting the new candidates for election to the Board of Directors, the Personnel and Remuneration Committee focused on the essential skill set for the HOCHDORF Group. In addition to the re-election of Markus Bühlmann, the Board of Directors is proposing Jürg Oleas, Andreas Herzog, Jean-Philippe Rochat and Ralph Siegl as new board members.

Jürg Oleas is proposed for election as the new Chairman of the Board of Directors. Jürg Oleas, Jean-Philippe Rochat and Ralph Siegl are proposed for election to the Personnel and Remuneration Committee.

Based on the discussions it has held, the Board of Directors is convinced that it is offering shareholders the opportunity to elect a professional board with a balanced skill set, which has the strong support of the three largest shareholders in the company in particular.

Request for special audit on the basis of Art. 697 Swiss Code of Obligations
In advance of the AGM, the Board of Directors is responding to the questions raised by a minority shareholder (see page 3) and a request for a special audit. It takes the view that the shareholder's request relates to questions that are of importance to a significant number of shareholders in the light of developments in the HOCHDORF Group over the past two years. Given this situation, the Board of Directors considers it crucial that the company's shareholders are provided with absolute transparency in all issues that are important to them, to enable them to regain confidence in the company and in its management team.

The Board of Directors therefore recommends that the shareholders accept the proposal if they are not fully satisfied with the answers of the Board of Directors and the auditors to the questions asked by the shareholder or if they have any doubts. In order to allow shareholders to form an opinion in this respect, the Board of Directors will publish its answers and the answers of the auditors on the company's website on 15 June 2020.

(Ende)