Press release BoxID: 269411 (Sonova Holding AG)
  • Sonova Holding AG
  • Laubisrütistrasse 28
  • 8712 Stäfa
  • Contact person
  • Gina Francioli
  • +41 (58) 92833-47

Sonova Shareholders approve all proposals of the Board of Directors

(PresseBox) (Stäfa, ) The shareholders of Sonova Holding AG approved all resolutions of the Board of Directors at the Annual General Shareholders' Meeting on June 10, 2009 and decided on a dividend of CHF 1.00 per share. More than 600 shareholders attended the AGM of Sonova Holding AG in Zurich, representing approx. 50% of the total share capital.

The shareholders approved the proposal of a gross dividend of CHF 1.00 per share. This amounts to a payout of CHF 65.3 million corresponding to a payout ratio of 23% of the consolidated net profit of last year's reporting period. The dividend will be paid with the value date June 15, 2009.

The Annual General Shareholders' Meeting elected Mr. Anssi Vanjoki, Mr. Ronald van der Vis and Dr. Valentin Chapero as new members of the Board of Directors for the statutory term of office of three years. Furthermore the vast majority of the shareholders confirmed the members of the Board of Directors Andy Rihs, William D. Dearstyne, Dr. Michael Jacobi and Robert F. Spoerry for a further period of office of three years.

The capital reduction owing to the share buy-back program was approved. By cancelling 718,500 shares with a par value of CHF 0.05 each, which were repurchased in the period from April 28, 2008 to March 31, 2009 pursuant to the share buy-back program, the share capital is reduced by CHF 35,925.00 from CHF 3,311,529.20 to CHF 3,275,604.20. All other proposals put forward by the Board of Directors were also approved.

The next Annual General Shareholders' Meeting will be convened on June 15, 2010 at the Hallenstadion in Zurich.

Sonova Holding AG

Sonova is the leading provider of innovative hearing healthcare solutions. This globally active group of companies is one of the world's top three manufacturers of hearing systems, the market leader in wireless communication systems for audiology applications and a provider of professional solutions for hearing protection. Sonova is pursuing a clear growth strategy and is intent on building its market share. To this end it is constantly expanding its existing business segments and branching out into other areas of the hearing healthcare industry.

Present in over 90 countries, and with a workforce of over 5,300 employees, Sonova generated sales of CHF 1.249 billion in the financial year 2008/09 and a net profit of CHF 284 million. This financially strong group of companies bases its success on innovation, customer focus and proactive cost management.

Communication is a mega trend in our society. Modern communication requirements and the sheer volume of audio information available - whether music or the spoken word - continue to increase, so that hearing is becoming an increasingly important facility. Due to demographic trends and harmful environmental impacts, more and more people now suffer from hearing loss, and yet only roughly a fifth of them make use of professional hearing solutions. Sonova therefore wants to raise public awareness of the importance of hearing and highlight the social and emotional impact of hearing loss, as well as providing information on potential solutions. In the Hear the World initiative, for example, world-famous celebrities stress the importance of good hearing. The company has been successfully promoting understanding and communication for over 60 years, and is ideally positioned to benefit from the trends in this growth industry.

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Sonova shares (ticker symbol: SOON) have been listed on the SIX Swiss Exchange since 1994.