Annual General Meeting approves all Board proposals

Rümlang, (PresseBox) - Shareholders at Kaba Holding AG's Annual General Meeting have accepted all of the proposals by the Board of Directors. Amongst other things, they have elected John Heppner as a new member of the Board.

Kaba Holding AG's Annual General Meeting has accepted all of the proposals by the Board of Directors. 496 of the company's shareholders were present and a total of 2,272,678 voting shares were represented directly or indirectly.

Instead of a dividend, the Annual General Meeting approved a distribution of CHF 11.00 per registered share from reserves from capital contributions. It thus lies within the payout target range, recently defined by the Board of Directors as between 40% and 60% of consolidated net profit. In the first ever consultative vote on the matter, shareholders also broadly approved the Compensation Report.

The acts of the Board of Directors and Executive Board for the last financial year were formally ratified. Elton SK Chiu, Daniel Daeniker, Rolf Dörig and Karina Dubs-Kuenzle were re-elected to the Board of Directors for a further term of one year (previously: three years). John Heppner (USA), who has outstanding knowledge of the industry and the North American market, was elected as a new member of the Board for a one-year term of office. He replaces Maurice P. Andrien, who stepped down from the Board having reached end of tenure.

Disclaimer

This communication contains certain forward-looking statements, e.g. statements using the words "believes", "assumes", "expects", or formulations of a similar kind. Such forward-looking statements are based on assumptions and expectations which the company believes to be well founded, but which could prove incorrect. They should be treated with appropriate caution because they naturally involve known and unknown risks, uncertainties and other factors which could mean that the actual results, financial situation, development or performance of the company or Group are materially different from those explicitly or implicitly assumed in these statements. Such factors include:


The general economic situation
Competition with other companies
The effects and risks of new technologies
The company's ongoing capital requirements
Financing costs
Delays in the integration of acquisitions
Changes in operating expenses
Fluctuations in exchange rates and raw materials prices
Attracting and retaining skilled employees
Political risks in countries where the company operates
Changes to the relevant legislation
Other factors named in this communication


If one or more of these risks, uncertainties or other factors should actually occur, or if one of the underlying assumptions or expectations proves incorrect, the consequences could be materially different from the assumed ones. In view of these risks, uncertainties and other factors, readers are cautioned not to place undue reliance on such forward-looking statements. The Company accepts no obligation to continue to report or update such forward-looking statements or adjust them to future events or developments. The Company emphasizes that past results and performances cannot lead to conclusions about future results and performances. It should also be noted that interim results are not necessarily indicative of year-end results. Persons who are unsure about investing should consult an independent financial advisor. This press release constitutes neither an offer to sell nor a call to buy securities.

Kaba®, Com-ID®, Ilco®, La Gard®, LEGIC®, SAFLOK®, Silca® etc. are registered brands, CardLink™, TouchGo™ etc. are trademarks of Kaba Group.

Country-specific requirements or business considerations may mean that not all Kaba Group products and systems are available in all markets.

Kaba Holding AG

With its innovative products, systems and services, globally active technology group Kaba is a leading provider of high quality access management solutions, locks, cylinders, physical access systems, enterprise data and time recording, and hotel access systems. The Group is also global market leader for high security locks, key blanks, transponder keys and key manufacturing machines. The listed Group has sales of around one billion Swiss francs and employs around 7,500 people in more than 60 countries. For more than 150 years Kaba has set trends in security and beyond - in terms of functionality, convenience and design, and always with a focus on optimum value to customers.

SIX Swiss Exchange: KABN
For more information please visit www.kaba.com.

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