Annual General Meeting 2023 approves all proposals
Wetzikon/Switzerland, April 13, 2023 – The Annual General Meeting of Elma Electronic AG approved all agenda items and proposals put forward by the Board of Directors by a large majority. The meeting was attended by shareholders and shareholder representatives accounting for 149’365 shares or 65.37% of the registered share capital of Elma.
The Annual General Meeting approved the 2022 Annual Report, the annual financial statements as well as the consolidated financial statements and approved the Compensation Report 2022 in a consultative vote. The members of the Board of Directors and the Group Management were granted discharge. In addition, the Annual General Meeting voted by a majority to approve the appropriation of the accumulated earnings for 2022 and a dividend distribution of CHF 2.00 per share. The proposal for total compensation paid to members of the Board of Directors for the period between the 2023 and 2024 Annual General Meetings was approved, as was the total compensation for the Group Management in the financial year 2024.
The five members of the Board of Directors, Martin Wipfli (Chairman), Walter Häusermann, Fred Ruegg, Peter Hotz and Bruno Cathomen were all re-elected for a further term by a large majority. The shareholders elected the members of the Compensation Committee, Fred Ruegg (current) and Bruno Cathomen (new). It will be the last term in office for Peter Hotz and Fred Ruegg as members of the Board of Directors as they will reach the statutory age in 2024 and will therefore not stand for re-election.
The law firm MLL Meyerlustenberger Lachenal Froriep AG was elected as independent proxy for another one-year term. The auditing mandate for the 2023 financial year was newly assigned to the external auditor BDO AG.
Due to the Corporate law reform, which has been in force since January 1, 2023, there was a need to amend the company’s articles of association. The shareholders approved the proposed amendments to the articles of association with a large majority.
The detailed voting results will be published on the company's website in the next few days at https://www.elma.com/en/investors/annual-general-meeting.
Elma Electronic AG
Martin Wipfli Thomas Herrmann
Chairman CEO Elma Group
Tel. +41 44 933 42 91 Tel. +41 44 933 43 04
Elma Electronic is a global manufacturer of electronic packaging products for the embedded systems market – from components, backplanes, power supply solutions, storage boards and chassis platforms to fully integrated systems. To ensure our integrated solutions are optimized to our customers’ needs, Elma partners with leading board manufacturers in the industry. Elma also provides enclosure solutions and rotary switches for demanding applications for electronic companies. The company has a broad base of proven standard products which can be tailored to individual applications: Elma offers services from the initial concept to volume production. Elma’s reliable solutions, flexibility, and design expertise are key reasons why the leading companies in the world choose Elma time and again.
This communication contains statements that constitute “forward-looking statements”. In this communication, such forward-looking statements include, without limitation, statements relating to our financial condition, results of operations and business and certain of our strategic plans and objectives. Because these forward-looking statements are subject to risks and uncertainties, actual future results may differ materially from those expressed in or implied by the statements. Many of these risks and uncertainties relate to factors which are beyond Elma’s ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behavior of other market participants, the actions of governmental regulators and other risk factors detailed in Elma’s past and future filings and reports and in past and future filings, press releases, reports and other information posted on Elma Group companies’ websites. Readers are cautioned not to put undue reliance on forward-looking statements, which speak only of the date of this communication. Elma disclaims any intention or obligation to update and revise any forward-looking statements, whether as a result of new information, future events or otherwise.