Landis+Gyr shareholders approve all proposals

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Zug, Switzerland. – June 30, 2020 – Today the Annual General Meeting (AGM) of Landis+Gyr Group AG (LAND.SW) took place in Zug without the physical presence of shareholders, owing to measures to combat the spread of COVID-19. Represented by the independent proxy, shareholders approved all proposals put forward by the Board of Directors. Votes were cast by shareholders representing 68.3% of the shares entitled to vote.

All eight members of the Board of Directors were confirmed for another one-year term of office including Andreas Umbach as Chairman. Shareholders also ratified the amounts for future compensation for the Board of Directors and the Group Executive Management, cancellation of shares purchased under the share repurchase program and, in a consultative vote, approved the 2019 Remuneration Report.

The AGM further approved the creation of authorized and conditional capital which when combined may not exceed 10% of the outstanding capital and the corresponding amendment of the Articles of Association. In addition, the AGM approved the change of domicile from Zug to Cham in connection with the relocation of Landis+Gyr’s headquarters scheduled for Q4 of calendar year 2020.

As communicated earlier, the Board of Directors will reassess the dividend decision for FY2019 and make an announcement at the time of the release of the Group’s first half FY 2020 results on October 28, 2020.

Detailed voting results and minutes of the AGM 2020 will available in the coming days on Landis+Gyr’s investor website: www.landisgyr.com/investors/annual-general-meeting.

 

Contact

Stan March
Phone +1 678 258 1321
Stan.March@landisgyr.com

 

Christian Waelti
Phone +41 41 935 6331
Christian.Waelti@landisgyr.com

 

Key dates

Release of Half Year Results 2020 October 28, 2020
Release of Sustainability Report October 28, 2020
Capital Markets Day January 27, 2021
Release of Results for Financial Year 2020 May 5, 2021
Publication of Annual Report 2020 and Invitation to AGM 2021 May 28, 2021
Annual General Meeting 2021 June 24, 2021

 

About Landis+Gyr

Landis+Gyr is the leading global provider of integrated energy management solutions for the utility sector. Offering one of the broadest portfolios, we deliver innovative and flexible solutions to help utilities solve their complex challenges in smart metering, grid edge intelligence and smart infrastructure. With sales of USD 1.7 billion, Landis+Gyr employs approximately 5,800 people in over 30 countries across five continents, with the sole mission of helping the world manage energy better.