gategroup Holding AG

EANS-Adhoc: gategroup Holding AG
Board of Directors Puts Dividend and Repeal of Restriction on Voting Rights on Annual General Meeting of Shareholders Agenda


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  ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is solely responsible for the content of this
  announcement.
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15.03.2012

ZURICH, March 15, 2012 --


    - Board of Directors of gategroup Holding AG announces several agenda items
      for the Annual General Meeting of Shareholders, to be held April 18, 2012
    - Proposal of a dividend of CHF 0.80 per registered dividend paying share, 
      free of Swiss withholding tax, funded by a withdrawal from the reserve 
      from capital contribution
    - Proposal to amend Articles of Incorporation to remove restrictions on 
      share transfers and limitations of voting rights for persons or entities 
      holding more than 10% of the registered share capital
    - Proposal for a non-binding consultative vote on the 2011 Compensation 
      Report
    - Five current members of the Board of Directors proposed for re-election 
      and nomination of two new members of the Board - Andrew Gibson, CEO of 
      gategroup, and Remo Brunschwiler, CEO of Swisslog Holding AG
    - The Board also announces its decision to introduce quarterly financial
      reporting to facilitate performance tracking of gategroup by shareholders 
      and investors

    The Board of Directors of gategroup Holding AG, the leading independent 

global provider of onboard products and services, today confirmed its intention 
to pay a dividend to shareholders as part of its list of proposed agenda items 
for the upcoming Annual General Meeting on April 18.

    The motion, subject to shareholder approval, calls for the distribution of 
a dividend payment of CHF 0.80 per registered dividend paying share, free of 
Swiss withholding tax, funded by a withdrawal from the reserve from capital 
contribution. As a result of a Swiss tax reform, effective as of January 1, 
2011, Swiss tax legislation allows the payment of a dividend without the 
deduction of 35% Swiss withholding tax if originating from the reserve from 
capital contribution. If approved, the dividend will be paid on April 25, 2012.

    The dividend proposal follows the statement made in the Chairman's Letter of
gategroup's 2011 Annual Report, published February 28, 2012, that the Board 
would consider a return to shareholders in line with the Company's stated 
dividend policy and would include the proposal in the invitation to the Annual 
General Meeting.

    In addition to the dividend proposal, shareholders attending the Annual 
General Meeting on April 18 will be invited to approve the 2011 Business 
Report, which incorporates the 2011 Annual Report, the Compensation Report, the 
Financial Statements and Consolidated Financial Statements. The Board further 
proposes that the 2011 Compensation Report be presented for a non-binding 
consultative vote.

    Another key agenda item is the proposal to amend the Articles of Association
to reduce share transfer restrictions and repeal limitations on 
voting rights. gategroup's Board proposes to remove the voting right limitation 
currently placed on persons and entities holding more than 10% of the 
registered share capital. By removing this limitation, the Board has opted to 
follow the principle of "one share, one vote" intrinsic to corporate governance 
best practice.

    Separately, the Board has decided to introduce quarterly financial 
reporting in 2012 with the aim of improving transparency of the business and 
its performance to shareholders and investors.

    Finally, re-election of the current members of the Board for a one year 
term will be proposed and, in a separate vote, two new candidates are nominated 
for election to the Board for a one year term: Andrew Gibson, CEO of gategroup, 
and Remo Brunschwiler, CEO of Swisslog Holding AG.


    The invitation to the Annual General Meeting of Shareholders, including full
agenda and associated documentation, will be issued to shareholders on March 23,
2012, and published on the same day in the Swiss Official Gazette of Commerce
and on the gategroup website (www.gategroup.com).

    gategroup Holding AG's Annual General Meeting of Shareholders will take
place on Wednesday April 18, 2012, at 10.00am CET at the Radisson Blu Hotel,
Zurich-Airport, Switzerland.

    Please see the following link on the gategroup web site for the Annual
Report 2011 including Financial Statements and additional company information:

http://www.gategroupmember.com/index.php?option=com_content&view=article&id=498&Itemid=228

    About gategroup:
    gategroup is the leading independent global provider of onboard services to 
companies that serve people on the move. gategroup comprises the following 
brands: deSter, eGate Solutions, Gate Aviation, Gate Gourmet, Gate Safe, 
Harmony, Performa, potmstudios, Pourshins and Supplair. Shares of Zurich-based 
gategroup are traded on the SIX Swiss Exchange under the symbol GATE. Please 
visit our website at www.gategroup.com


Further inquiry note:
For media - Carol Reed, creed@gategroup.com, +41 43 812 9128, or John Bronson,
jbronson@gategroup.com, +41 43 812 2048; For investors/analysts, Dagmara
Robinson, drobinson@gategroup.com, +41 43 812 5496

end of announcement                               euro adhoc 
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issuer:      gategroup Holding AG
             Balz-Zimmermannstrasse 7
             CH-8302 Kloten
phone:       +41 43 812 54 96
FAX:         +41 43 812 91 19
mail:     invest@gategroup.com
WWW:      http://www.gategroupmember.com/
sector:      Consumer Goods
ISIN:        CH0100185955
indexes:     
stockmarkets: Hauptsegment: SIX Swiss Exchange 
language:   English
 

 

 



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