Annual General Meeting approves all Board proposals

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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.


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