EANS-Adhoc: gategroup Holding AG Board of Directors Puts Dividend and Repeal
of Restriction on Voting Rights on Annual General Meeting of Shareholders Agenda
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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
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announcement.
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15.03.2012
ZURICH, March 15, 2012 --
- Board of Directors of gategroup Holding AG announces several agenda items
for the Annual General Meeting of Shareholders, to be held April 18, 2012
- Proposal of a dividend of CHF 0.80 per registered dividend paying share,
free of Swiss withholding tax, funded by a withdrawal from the reserve
from capital contribution
- Proposal to amend Articles of Incorporation to remove restrictions on
share transfers and limitations of voting rights for persons or entities
holding more than 10% of the registered share capital
- Proposal for a non-binding consultative vote on the 2011 Compensation
Report
- Five current members of the Board of Directors proposed for re-election
and nomination of two new members of the Board - Andrew Gibson, CEO of
gategroup, and Remo Brunschwiler, CEO of Swisslog Holding AG
- The Board also announces its decision to introduce quarterly financial
reporting to facilitate performance tracking of gategroup by shareholders
and investors
The Board of Directors of gategroup Holding AG, the leading independent
global provider of onboard products and services, today confirmed its intention
to pay a dividend to shareholders as part of its list of proposed agenda items
for the upcoming Annual General Meeting on April 18.
The motion, subject to shareholder approval, calls for the distribution of
a dividend payment of CHF 0.80 per registered dividend paying share, free of
Swiss withholding tax, funded by a withdrawal from the reserve from capital
contribution. As a result of a Swiss tax reform, effective as of January 1,
2011, Swiss tax legislation allows the payment of a dividend without the
deduction of 35% Swiss withholding tax if originating from the reserve from
capital contribution. If approved, the dividend will be paid on April 25, 2012.
The dividend proposal follows the statement made in the Chairman's Letter of
gategroup's 2011 Annual Report, published February 28, 2012, that the Board
would consider a return to shareholders in line with the Company's stated
dividend policy and would include the proposal in the invitation to the Annual
General Meeting.
In addition to the dividend proposal, shareholders attending the Annual
General Meeting on April 18 will be invited to approve the 2011 Business
Report, which incorporates the 2011 Annual Report, the Compensation Report, the
Financial Statements and Consolidated Financial Statements. The Board further
proposes that the 2011 Compensation Report be presented for a non-binding
consultative vote.
Another key agenda item is the proposal to amend the Articles of Association
to reduce share transfer restrictions and repeal limitations on
voting rights. gategroup's Board proposes to remove the voting right limitation
currently placed on persons and entities holding more than 10% of the
registered share capital. By removing this limitation, the Board has opted to
follow the principle of "one share, one vote" intrinsic to corporate governance
best practice.
Separately, the Board has decided to introduce quarterly financial
reporting in 2012 with the aim of improving transparency of the business and
its performance to shareholders and investors.
Finally, re-election of the current members of the Board for a one year
term will be proposed and, in a separate vote, two new candidates are nominated
for election to the Board for a one year term: Andrew Gibson, CEO of gategroup,
and Remo Brunschwiler, CEO of Swisslog Holding AG.
The invitation to the Annual General Meeting of Shareholders, including full
agenda and associated documentation, will be issued to shareholders on March 23,
2012, and published on the same day in the Swiss Official Gazette of Commerce
and on the gategroup website (www.gategroup.com).
gategroup Holding AG's Annual General Meeting of Shareholders will take
place on Wednesday April 18, 2012, at 10.00am CET at the Radisson Blu Hotel,
Zurich-Airport, Switzerland.
Please see the following link on the gategroup web site for the Annual
Report 2011 including Financial Statements and additional company information:
http://www.gategroupmember.com/index.php?option=com_content&view=article&id=498&Itemid=228
About gategroup:
gategroup is the leading independent global provider of onboard services to
companies that serve people on the move. gategroup comprises the following
brands: deSter, eGate Solutions, Gate Aviation, Gate Gourmet, Gate Safe,
Harmony, Performa, potmstudios, Pourshins and Supplair. Shares of Zurich-based
gategroup are traded on the SIX Swiss Exchange under the symbol GATE. Please
visit our website at www.gategroup.com
Further inquiry note:
For media - Carol Reed, creed@gategroup.com, +41 43 812 9128, or John Bronson,
jbronson@gategroup.com, +41 43 812 2048; For investors/analysts, Dagmara
Robinson, drobinson@gategroup.com, +41 43 812 5496
end of announcement euro adhoc
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issuer: gategroup Holding AG
Balz-Zimmermannstrasse 7
CH-8302 Kloten
phone: +41 43 812 54 96
FAX: +41 43 812 91 19
mail: invest@gategroup.com
WWW: http://www.gategroupmember.com/
sector: Consumer Goods
ISIN: CH0100185955
indexes:
stockmarkets: Hauptsegment: SIX Swiss Exchange
language: English