gategroup shareholders approve all Board proposals

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Parent Category: Investor relations

Published on Wednesday, 18 April 2012 11:02

First dividend payment since listing on Swiss stock exchange

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ZURICH, April 18, 2012 – gategroup Holding AG held its 2012 annual General Meeting of Shareholders today. All motions proposed by the Board of Directors were adopted.

For the first time since the listing of the company at the Swiss stock exchange in 2009, shareholders approved the distribution of a dividend. According to the proposal by the Board of Directors, CHF 0.80 per dividend paying share will be paid on April 25, 2012, free of Swiss withholding tax, funded by a withdrawal from the reserve from capital contribution.

Shareholders, among other measures, also approved the report on compensations as shown in the Annual Report 2011 on a non-binding consultative basis and agreed with the proposal of the Board of Directors to amend the Articles of Incorporation to comply with best practice in corporate governance. The amendment removes restrictions on share transfers and limitations of voting rights for persons or entities holding more than 10% of the registered share capital.

Finally, gategroup’s shareholders re-elected Chairman Andreas Schmid and the members of the board Neil Brown, Brian Larcombe, David Siegel and Anthonie Stal, each for a term of one year. In addition, shareholders elected: Remo Brunschwiler, CEO of Swisslog Holding AG and Andrew Gibson, CEO of gategroup, as new members to the Board of Directors, each for a term of one year.

About gategroup:

gategroup is the leading independent global provider of products, services and solutions related to a passenger's onboard experience.

Shares of Zurich-based gategroup are traded on the SIX Swiss Exchange under the symbol GATE.