General Meeting, Shareholders Tacitly Confirm That They Comply with These Conditions
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RAPPERSWIL-JONA, 10 MARCH 2020 IMPORTANT ANNOUNCEMENT Dear shareholders, In view of the current situation with regard to the Corona virus, the Confederation is currently advising against participation in large gatherings and prohibits events attended by more than 1000 people. Furthermore, the canton of St. Gallen is insisting that at events with fewer than 1000 participants it is ensured that none of the guests was in a risk area in the last 14 days as defined by the Federal Office of Public Health (FOPH)* or indeed comes from such a risk area. By taking part in the General Meeting, shareholders tacitly confirm that they comply with these conditions. As we are legally obliged to hold the General Meeting, we are planning to conduct it. We ask those shareholders who do not feel completely healthy or who are worried about being infected to delegate their votes to the Independent Proxy via a written or an electronic power of attorney. Due to the limitation to 1000 people, we cannot grant admission to the GM hall for any more than 800 shareholders along with the organisational staff. Due to the current situation, we have decided not to hold the aperitif after the General Meeting and the production exhib ition which was due to take place in the entrance area – we kindly ask for your understanding. We have also decided to broadcast the General Meeting live on the Internet so that you can still obtain firsthand information. You will find the relevant link on our website→ www.geberit.com/ investors/general-meeting We must advise you that if you decide to attend the General Meeting, you do so at your own risk. We reserve the right to take further measures if we feel they are necessary, such as fever control or similar protective measures. Furthermore, the General Meeting could be postponed at short notice depending on current developments or if the relevant approval to hold the GM is not granted. Kind regards, Albert M. Baehny Chairman of the Board of Directors * Currently affected areas are China, Iran, South Korea, Singapore as well as the areas Lombardy, Piedmont and Veneto in Italy (updates on the situation will be posted at → www.geberit.com/investors/ general-meeting). Geberit AG · Schachenstrasse 77 · CH8645 Jona · Postfach 1575 · CH8640 Rapperswil Telephone + 41 (0)55 221 69 47 · [email protected] · www.geberit.com Beiblatt Einladung GV 2020 en.indd 1 04.03.20 17:42 RUBRIK INVITATION GENERAL MEETING 2020 1 Geberit_GV-Einladung_A5_2020_E.indd 1 03.03.20 16:45 RUBRIK INVITATION 21ST ORDINARY GENERAL MEETING DATE 1 APRIL 2020 AT 4:30 P.M. (DOORS OPEN AT 3:30 P.M.) LOCATION SPORTHALLE GRÜNFELD GRÜNFELDSTRASSE 8 8645 RAPPERSWIL-JONA SWITZERLAND 2 Geberit_GV-Einladung_A5_2020_E.indd 2 03.03.20 16:45 TO THE SHAREHOLDERS OF GEBERIT AG Dear Sir or Madam We are pleased to invite you to our 21st ordinary General Meeting. Enclosed, please find the agenda of the General Meeting, the response slip for ordering admission cards, and the Summary Report on the 2019 business year. The complete 2019 Annual Report may be viewed at → www.geberit.com/annualreport. We kindly ask you to return the completed and signed response slip using the envelope provided. Your admission card will then be sent to you. We would also like to point out that you can register on our shareholder platform at → www.sherpany.com/geberit. In this case, you will receive your documents for the General Meeting in electronic form only and you can grant your proxy and issue instructions to the Independent Proxy online. Of course, you can still attend the General Meeting in person. The hotline +41 (0) 800 808 202 is available in case you need support with the electronic registration. If you choose not to register electronically, you will receive your General Meeting documents as usual by mail. The General Meeting will be held in Rapperswil-Jona on Wednesday, 1 April 2020, beginning at 4:30 p.m. After the meeting, you are cordially invited to join us for an aperitif. We very much look forward to welcoming you personally to our General Meeting. Yours faithfully Geberit AG SHAREHOLDER PLATFORM Albert M. Baehny Chairman of the Board of Directors SHERPANY Register now and have your say online: www.sherpany.com/geberit Enclosures – Agenda of the General Meeting – Response slip/instruction form with return envelope – Summary Report of the 2019 business year – Sherpany registration form 3 Geberit_GV-Einladung_A5_2020_E.indd 3 03.03.20 16:45 AGENDA AND PROPOSALS 1. Approval of the Business and Financial Review, the Financial Statements and the Consolidated Financial Statements for 2019, acceptance of the Auditors’ Reports Proposal: The Board of Directors proposes approval of the Business and Financial Review, the Financial Statements and the Consolidated Financial Statements 2019. 2. Resolution on the allocation of capital contribution reserves from the legal reserves to the free reserves and the appropriation of available earnings 2.1 Resolution on the allocation of capital contribution reserves from the legal reserves to the free reserves Proposal: The Board of Directors proposes the allocation of capital contribution reserves in the amount of CHF 21,501,404 from the legal reserves to the free reserves. 2.2 Resolution on the appropriation of available earnings Proposal: The Board of Directors proposes the appropriation of available earnings as follows: Net income for the business year 2019 CHF 549,799,986 Balance brought forward CHF 10,211,072 Total available earnings CHF 560,011,058 Transfer to free reserves CHF 150,000,000 Proposed dividend of CHF 11.30 per share CHF 409,928,699* Balance to be carried forward CHF 82,359 Total appropriation of available earnings CHF 560,011,058 * The shares held by the company at the time of the dividend payment do not carry dividend rights. The amount of the dividend shown can thus change accordingly. If accepted, the dividend will be paid out, less 35% withholding tax, on 7 April 2020. 3. Formal approval of the actions of the Board of Directors Proposal: The Board of Directors proposes that the actions of the members of the Board of Directors during the 2019 business year be approved. 4 Geberit_GV-Einladung_A5_2020_E.indd 4 03.03.20 16:45 AGENDA AND PROPOSALS 4. Elections to the Board of Directors, election of the Chairman of the Board of Directors and elections to the Compensation Committee Member of the Board of Directors Thomas M. Hübner passed away at the beginning of October 2019. Within the context of succession planning, the Geberit AG Board of Directors nominates Werner Karlen as a new member of the Board of Directors at the General Meeting. Short CVs of those persons proposed to be re-elected as members of the Board of Directors are available at → www.geberit.com/annualreport > Business report > Corporate Governance > Board of Directors. 4.1 Elections to the Board of Directors and election of the Chairman of the Board of Directors 4.1.1 Re-election of Albert M. Baehny as a member of the Board of Directors and as Chairman of the Board of Directors Proposal: The Board of Directors proposes that Albert M. Baehny be re-elected as a member of the Board of Directors and that he also be re-elected as Chairman of the Board of Directors until the closing of the next ordinary General Meeting. 4.1.2 Re-election of Felix R. Ehrat Proposal: The Board of Directors proposes that Felix R. Ehrat be re-elected as a member of the Board of Directors until the closing of the next ordinary General Meeting. 4.1.3 Re-election of Bernadette Koch Proposal: The Board of Directors proposes that Bernadette Koch be re-elected as a member of the Board of Directors until the closing of the next ordinary General Meeting. 4.1.4 Re-election of Hartmut Reuter Proposal: The Board of Directors proposes that Hartmut Reuter be re-elected as a member of the Board of Directors until the closing of the next ordinary General Meeting. 4.1.5 Re-election of Eunice Zehnder-Lai Proposal: The Board of Directors proposes that Eunice Zehnder-Lai be re-elected as a member of the Board of Directors until the closing of the next ordinary General Meeting. 5 Geberit_GV-Einladung_A5_2020_E.indd 5 03.03.20 16:45 AGENDA AND PROPOSALS 4.1.6 Election of Werner Karlen Proposal: The Board of Directors proposes that Werner Karlen be elected as a member of the Board of Directors until the closing of the next ordinary General Meeting. A short CV of Werner Karlen is available at → www.geberit.com > Media > Media Releases >10.03.2020. 4.2 Elections to the Compensation Committee The Geberit Group has a combined Nomination and Compensation Committee (NCC). When electing the members of the Compensation Committee, you will elect the members of the combined Nomination and Compensation Committee. 4.2.1 Re-election of Hartmut Reuter Proposal: The Board of Directors proposes that Hartmut Reuter be re-elected as a member of the Compensation Committee until the closing of the next ordinary General Meeting. If Hartmut Reuter is re-elected as a member of the Compensation Committee, the Board of Directors intends to appoint him as Chairman of the Compensation Committee. 4.2.2 Re-election of Eunice Zehnder-Lai Proposal: The Board of Directors proposes that Eunice Zehnder-Lai be re-elected as a member of the Compensation Committee until the closing of the next ordinary General Meeting. 4.2.3 Election of Werner Karlen Proposal: The Board of Directors proposes that Werner Karlen be elected as a member of the Compensation Committee until the closing of the next ordinary General Meeting.