EQS-Adhoc

LLB General Meeting 2021

EQS Group-Ad-hoc: Liechtensteinische Landesbank / LLB / Key word(s): AGMEGM/Dividend LLB General Meeting 2021 07-May-2021 / 19:00 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 KR The issuer is solely responsible for the content of this announcement. Vaduz, 7 May 2021. On account of the coronavirus pandemic, the 29th Ordinary General Meeting of Shareholders of Liechtensteinische Landesbank AG (LLB) was again held without the attendance of shareholders in person. 3'024 shareholders exercised their voting rights in writing or electronically and approved all proposals of the Board of Directors with a large majority.

On account of the coronavirus pandemic, this year's General Meeting was limited to the legally required agenda items. The voting participation of shareholders, who cast their votes in writing or electronically, was very high, representing 76.9% of the share capital. The vote count resulted in clear approval of all the proposals of the Board of Directors.

Elections at the General Meeting
The General Meeting re-elected Georg Wohlwend as Chairman of the Board of Directors for a term of office of three years. Shareholders confirmed Members of the Board of Directors Thomas Russenberger and Richard Senti for a second term of office of three years.
Shareholders appointed KPMG (Liechtenstein), Vaduz, as the new external auditors for a period of one year. Over the past 20 years, PricewaterhouseCoopers served in this function. On grounds of corporate governance and with a view to anticipated introduction of the principle of rotation, the Board of Directors proposed this change to the General Meeting. The General Meeting granted official discharge to the Board of Directors, the Executive Board, and the external auditors. 
 
Dividend of CHF 2.20 per registered share
The shareholders approved the 2020 annual reports and financial statements of LLB AG, Vaduz, and the LLB Group. They voted in favour of the distribution of the balance sheet profit for 2020 proposed by the Board of Directors and resolved to pay out a dividend of CHF 2.20, the same as in the previous year. The decision was based on the long-term, prudent dividend policy defined by the Board of Directors.