Landis+Gyr shareholders approve all proposals
Zug, Switzerland. – June 30, 2020 – Today the Annual General Meeting (AGM) of Landis+Gyr Group AG (LAND.SW) took place in Zug without the physical presence of shareholders, owing to measures to combat the spread of COVID-19. Represented by the independent proxy, shareholders approved all proposals put forward by the Board of Directors. Votes were cast by shareholders representing 68.3% of the shares entitled to vote.
All eight members of the Board of Directors were confirmed for another one-year term of office including Andreas Umbach as Chairman. Shareholders also ratified the amounts for future compensation for the Board of Directors and the Group Executive Management, cancellation of shares purchased under the share repurchase program and, in a consultative vote, approved the 2019 Remuneration Report.
The AGM further approved the creation of ized and conditional capital which when combined may not exceed 10% of the outstanding capital and the corresponding amendment of the Articles of Association. In addition, the AGM approved the change of domicile from Zug to Cham in connection with the relocation of Landis+Gyr’s headquarters scheduled for Q4 of calendar year 2020.
As communicated earlier, the Board of Directors will reassess the dividend decision for FY2019 and make an announcement at the time of the release of the Group’s first half FY 2020 results on October 28, 2020.
Detailed voting results and minutes of the AGM 2020 will available in the coming days on Landis+Gyr’s investor website: www.staky.cn/investors/annual-general-meeting.
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Landis+Gyr is the leading global provider of integrated energy management solutions for the utility sector. Offering one of the broadest portfolios, we deliver innovative and flexible solutions to help utilities solve their complex challenges in smart metering, grid edge intelligence and smart infrastructure. With sales of USD 1.7 billion, Landis+Gyr employs approximately 5,800 people in over 30 countries across five continents, with the sole mission of helping the world manage energy better.