Sonova shareholders approve all motions of the Board of Directors

The shareholders of Sonova Holding AG approved all motions of the Board of Directors at the Annual General Shareholders’ Meeting (AGM) on June 13, 2017, and thus decided on a dividend of CHF 2.30 per share. 427 shareholders attended the AGM of Sonova Holding AG in Zurich, representing approximately 63.8% of the total share capital.

The shareholders approved the Annual Report, the Annual Consolidated Financial Statements of the Group and the Annual Financial Statements of Sonova Holding AG for 2016/17 and authorized the proposed appropriation of retained earnings and a gross dividend of CHF 2.30 per share. This amounts to a payout of approximately CHF 150.2 million corresponding to a normalized payout ratio of 41%. The distribution will be made with the anticipated value date of June 19, 2017.

The shareholders formally approved the actions of the members of the Board of Directors for their activities during the 2016/17 financial year. All members of the Board of Directors were re-elected individually for a further term of office. During the course of these elections, the current Chairman of the Board of Directors Robert F. Spoerry was also confirmed in office. Elected to the Nomination & Compensation Committee were Robert F. Spoerry (Chairman), Beat Hess and Stacy Enxing Seng.

 

The compensation report for the 2016/17 financial year was accepted by shareholders in a non-binding advisory vote. Shareholders also approved in two separate binding votes the maximum aggregate amount of compensation of the Board of Directors covering the period from the 2017 Annual General Meeting to the 2018 Annual General Meeting and the maximum aggregate amount of compensation of the Management Board for the 2018/19 financial year. Furthermore the capital reduction through cancellation of shares was accepted by the shareholders.

 

PricewaterhouseCoopers AG, Zurich, were re-elected as auditors for a further period of one year. Andreas G. Keller was re-elected as the Independent Proxy.

 

The next AGM will be convened on June 12, 2018.

 

The presentation and the minutes (in German) of the 2017 Annual General Meeting will soon be available on our website: www.sonova.com/en/AGM

 

Disclaimer

This Media Release contains forward-looking statements, which offer no guarantee with regard to future performance. These statements are made on the basis of management’s views and assumptions regarding future events and business performance at the time the statements are made. They are subject to risks and uncertainties including, but not confined to, future global economic conditions, exchange rates, legal provisions, market conditions, activities by competitors and other factors outside Sonova’s control. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. Each forward-looking statement speaks only as of the date of the particular statement, and Sonova undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law.

 

Sonova shares (ticker symbol: SOON, Security no: 1254978, ISIN: CH1012549785) have been listed on the SIX Swiss Exchange since 1994. The securities of Sonova have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or under the applicable securities laws of any state of the United States of America, and may not be offered or sold in the United States of America except pursuant to an exemption from the registration requirements under the U.S. Securities Act and in compliance with applicable state securities laws, or outside the United States of America to non-U.S. Persons in reliance on Regulation S under the U.S. Securities Act.