Swatch Group: Decisions taken by the Swatch Group shareholders at the Ordinary Assembly General Meeting of Tuesday, May 31, 2011 at the Exhibition Center of Basel in Basel, Switzerland
Biel/Bienne, May 31, 2011 – At its today's Ordinary Assembly General Meeting, the shareholders of the Swatch Group Ltd. approved the proposals submitted by the Board of Directors with a large majority (2’152 present shareholders representing 71,3% of the voting rights). The proposals concerned:
1. 2010 Annual Report
Proposal: After reviewing the reports of the Statutory auditors, the Board of Directors recommends that the General Meeting approves the 2010 Annual Report (Annual Report, Financial Statements and Consolidated Financial Statements).
2. Discharge of the Board of Directors
Proposal: The Board of Directors recommends that the General Meeting shall discharge all members of the Board of Directors for the financial year 2010.
3. Resolution for the Appropriation of the Net Income
Proposal: The Board of Directors recommends that the General Meeting appropriates the 2010 profit of CHF 607'596'832.93 resulting from the balance sheet (net income as of 31.12.2010 of CHF 581'132'548.68 plus balance brought forward from the previous year of CHF 26'464'284.25) as follows:
• Dividend on share capital of CHF125'210'250.00
- CHF 1.00 per registered share with a par value of CHF 0.45: CHF 124'045'000.00 - CHF 5.00 per registered share with a par value of CHF 2.25: CHF 154'200'000.00
• Allocation to special reserve: CHF 300'000'000.00
• Net income brought forward: CHF 29'351'832.93
Total CHF 607'596'832.93
4. Nomination of the Statutory Auditors
Proposal: The Board of Directors recommends that the General Meeting appoints PricewaterhouseCoopers Ltd for another period of one year as Statutory Auditors.
Investors
Thierry Kenel, CFO
The Swatch Group Ltd, Biel / Bienne (Switzerland)
Phone: +41 32 343 68 11
E-mail: use our «Contact Form», please.
Media
Serena Chiesura, Head of Corporate Communications
The Swatch Group Ltd, Biel / Bienne (Switzerland)
Phone: +41 32 343 68 11
E-mail: use our «Contact Form», please.
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