Annual General Meeting approves all motions proposed by the Board of Directors
Zurich, April 26, 2022 - Today, the Annual General Meeting approved all motions proposed by the Board of Directors by a large majority. The independent proxy represented 85.0% of the shares with voting rights.
In November 2021, following the successful transformation of the Group, the outgoing Chairman of the Board of Directors Ernst Bärtschi announced that he would no longer stand for re-election for reasons of age. The Board of Directors would like to take this opportunity to thank Ernst Bärtschi for his successful work and excellent collaboration. As new Chairman the shareholders elected Heinz O. Baumgartner, a proven expert in international industry. In addition to re-electing the existing members, the Annual General Meeting elected Inge Delobelle to the Board of Directors. Her expertise in the fields of innovation, service, and digitalization will strengthen these areas of competence on the board.
The shareholders approved the 2021 Annual Report, including the Consolidated Financial Statements and the Annual Financial Statements, and approved the proposed appropriation of available earnings and the payout of a dividend of CHF 60 per class A registered share and CHF 12 per class B registered share. With a total of CHF 124 million, Bystronic is thus paying out a part of its existing excess liquidity. The motions concerning the compensation of the Board of Directors and the Executive Committee, as well as the other motions, were also approved by a large majority.
Heinz O. Baumgartner, Chairman of the Board of Directors of Bystronic, stated: "Bystronic distinguishes itself through a high innovative drive, a broad presence in global markets, and a strong customer orientation. This puts us in a solid position for further growth. Together with the Board of Directors and the Executive Committee, we will continue to pursue our successful strategy."
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Bystronic (SIX: BYS) is a leading global technology company in the field of sheet metal processing. The focus is on the automation of the complete material and data flow of the cutting and bending process chain. The intelligent networking of laser cutting systems and press brakes based on innovative automation, software, and service solutions is key to achieving the comprehensive digitalization of the sheet metal processing industry.
Bystronic's operational headquarters are located in Niederönz, Switzerland. Additional development and production sites are located in Sulgen (Switzerland), Gotha (Germany), Cazzago San Martino and San Giuliano Milanese (Italy), Tianjin and Shenzhen (China), and Hoffman Estates (USA). We are active with our own sales and service companies in more than 30 countries and are represented by agents in numerous other countries.
This media release has been published in English and German. Should the English translation differ from the German original, the wording of the German version shall prevail.
This media release contains forward-looking statements, which are subject to uncertainty and risks. Actual future results may differ materially from those expressed in or implied by these statements. Some of these uncertainties and risks relate to factors that are beyond Bystronic's ability to control or predict precisely, such as, in particular, future market conditions, currency fluctuations, or the behavior of other market participants, suppliers, and transport companies, as well as possible effects of the war in Ukraine and the associated sanctions. Readers are cautioned not to put undue reliance on forward-looking statements, since these relate only to the date of this communication. Bystronic disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or any other factors.
File: Annual General Meeting approves all motions proposed by the Board of Directors