Zurich, 25 March 2014
ORIOR AG's fourth annual general meeting as a listed company was held in Zurich today. The 458 shareholders attending represented 3 568 825 voting shares, or 60.23 % of the total share capital of 5 925 000 issued shares.
The AGM approved all the proposals put forward by the Board of Directors. The annual report and the 2013 annual and group financial statements were approved, as was an increase in the dividend. The dividend payment of CHF 1.97 net per registered share (prior year: CHF 1.95) is to be made on or around 1 April 2014. This payment is being made from the capital contribution reserve and so will not be subject to deduction of withholding tax. The payout ratio of 45.2% is in line with ORIOR's defined dividend policy.
In the elections held during the meeting, existing Board members Rolf U. Sutter, as Chairman, Rolf Friedli, Christoph Clavadetscher, Edgar Fluri, Dominik Sauter and Monika Walser were all re-elected for another one-year term. After seven years on the Board of Directors, Anton Scherrer did not put himself forward for another term. Chairman of the Board of Directors Rolf U. Sutter thanked him for his many years of dedication to the company and for his valuable contribution to ORIOR's development. Christoph Clavadetscher, Rolf Friedli und Rolf U. Sutter were elected as members of the Remuneration Committee. In addition, Ernst & Young AG, Basel, was confirmed as auditor for the 2014 financial year and Ines Pöschel was elected as independent proxy until the end of the next Annual General Meeting in 2015.
Shareholders also approved the extension of approved capital of CHF 4 761 704 until 25 March 2016.
The amendments to the articles of association required by the Ordinance Against Excessive Pay at Publicly Listed Companies (Verordnung gegen übermässige Vergütungen bei börsenkotierten Aktiengesellschaften, VegüV), were also approved by the Annual General Meeting. Changes included wider powers for the General Meeting, the function of independent proxy, rules on additional activities by members of the Board of Directors and Management, the responsibilities of the Remuneration Committee, and rules on compensation paid to the Board of Directors and Management.