LEM shareholders approve all AGM resolutions

LEM HOLDING SA / Key word(s): AGMEGM LEM shareholders approve all AGM resolutions 01-Jul-2022 / 07:00 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Geneva, Switzerland, 1 July 2022 – LEM (SIX: LEHN), a leading global company in electrical measurement for renewable energy, automation, power network and e-mobility applications, announces that all resolutions were approved by shareholders at yesterday’s Annual General Meeting held at LEM headquarters in Geneva. The gross dividend of CHF 50.00 per share will be paid on 7 July 2022.

 

Shareholders owning a total of 920,433 shares, representing 80.74% of the share capital, cast their vote. A strong majority followed the Board of Directors’ recommendations and approved all the resolutions, the main ones being:

• Approval of the management report, the consolidated financial statements of the LEM Group and the annual financial statements of LEM HOLDING SA as at 31 March 2022.
   
• Appropriation of available earnings, and distribution of an ordinary dividend of CHF 50.00 per share, the net amount after Swiss withholding tax being CHF 32.50 payable on 7 July 2022.
   
• Approval of the compensation of the Board of Directors and the Executive Management. As of the financial year 2022/23, the current cash-based long-term compensation plan for Executive Management will be replaced by a share-based Performance Share Unit (PSU) plan.
   
• Amendment to the Articles of Incorporation to move the registered office of LEM HOLDING SA from Plan-les-Ouates to Meyrin.
   
• Re-election of all six members of the Board for a term of one year, including the role of Chairman, and membership of the Nomination & Compensation Committee.

 

 

The minutes of the AGM will be published on LEM’s website as soon as they are available.