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Please find below all Forbo media releases listed by year.
Forbo shareholders approve all proposals of the Board of Directors
The shareholders of Forbo Holding Ltd approved all proposals submitted by the Board of Directors to the 91st Ordinary General Meeting in Zug by a clear majority. A dividend of CHF 21 per share will be paid out as of April 12, 2019.
Baar, April 5, 2019
Today's Ordinary General Meeting of Forbo Holding Ltd was attended by 133 shareholders, representing 1,139,971 registered shares or 63.33 percent of the share capital issued.
The shareholders approved all proposals of the Board of Directors by a clear majority. They approved the Annual Report, the annual statements and the consolidated financial statements for the 2018 business year, while also granting discharge to the responsible governing bodies. In addition, they voted in favor of the proposed distribution of earnings in the form of a dividend amounting to CHF 21 per share.
They approved the capital reduction and the corresponding amendment to the Articles of Association in connection with the share buyback program adopted at the Ordinary General Meeting of April 6, 2017.
With the approval of a new share buyback program, the Board of Directors is authorized to repurchase treasury shares up to a maximum of 10 percent of the share capital over a period of three years either through a second trading line at the SIX Swiss Exchange or by another means. These shares are definitively intended to be canceled.
The shareholders approved the 2018 Remuneration Report by a clear majority in a consultative vote. The Ordinary General Meeting approved the maximum total remuneration of the Board of Directors for 2020, the maximum fixed remuneration of the Executive Board for 2020, the short-term variable remuneration of the Executive Board for 2018, as well as the maximum long-term participation of the Executive Board for 2019 by a clear majority.
The current members of the Board of Directors were all confirmed in office and re-elected for a one-year term. They are This E. Schneider, Executive Chairman, and the members Dr. Peter Altorfer, Michael Pieper, Claudia Coninx-Kaczynski, Dr. Reto Müller and Vincent Studer. The current members of the Remuneration Committee – Dr. Peter Altorfer, Claudia Coninx-Kaczynski and Michael Pieper – were also confirmed for a further year.
Lastly, the shareholders extended the mandate of the auditor, KPMG Ltd, for a further year. Furthermore, René Peyer was re-elected as independent proxy.
Forbo is a leading producer of floor coverings, building and construction adhesives, as well as power transmission and conveyor belt solutions. The company employs more than 5,700 people and has an international network of 26 production facilities and distribution companies, 6 assembly centers, as well as 46 pure sales organizations in a total of 36 countries across the globe. The company generated net sales of CHF 1,327.0 million in the 2018 business year. Forbo is headquartered in Baar in the canton of Zug, Switzerland.
Forbo Holding Ltd is listed on SIX Swiss Exchange (security number 354151, ISIN CH0003541510, Bloomberg FORN SW, Reuters FORN.S).
Contact person:
This E. Schneider
Executive Chairman
Phone +41 58 787 25 49
www.forbo.com
