Report from the Annual General Meeting of Shareholders of DDM Holding AG
DDM Holding AG (First North: DDM), (the “Company”), held its Annual General Meeting (the “AGM”) today, 18 June 2019, in Zug, Switzerland. A summary of a selection of the AGM resolutions is presented below.
Minutes of the AGM
The minutes of the AGM, including a complete account of all resolutions taken, are expected to be posted on the Company’s website http://ddm-group.ch/investors within a few days.
Approval of the Annual Report, the Statutory Financial Statements and the Consolidated Financial Statements 2018
Following the board of directors’ proposal, the AGM approved the annual report, the statutory financial statements and the consolidated financial statements 2018.
Appropriation of Available Earnings 2018
The AGM resolved to allocate 5% of the profit at the disposal of the shareholders to statutory retained earnings and to carry forward the remainder of the profit of CHF 2,254,210 (EUR 1,947,784).
Re-Election of Board Members
Torgny Hellström and Erik Fällström were re-elected as members of the board of directors. The elections are each for a term of one year ending after completion of the next annual general meeting.
Election of a new Board Member
Joachim Cato was elected as a new member of the board of directors. The election is for a term of one year ending after completion of the next annual general meeting.
Re-Election of the Chairman
Following the board of directors’ proposal, the AGM re-elected Torgny Hellström as chairman of the board of directors for a term of one year ending after completion of the next annual general meeting.
Re-Election of the Remuneration Committee
Torgny Hellström (chair) and Erik Fällström were re-elected as members of the remuneration committee, each for a term of one year ending after completion of the next annual general meeting.
Election of the Independent Proxy
Bratschi AG (CHE-141.281.308), Zurich, Switzerland was elected as independent proxy for a term of one year ending after completion of the next annual general meeting.
Re-Election of the Statutory Auditors
PricewaterhouseCoopers AG (CHE‑434.873.063), Luzern, was re-elected as the statutory auditors for the business year 2019.
Consultative Vote on the Compensation Report 2018
The AGM approved, on a consultative basis and as proposed by the board of directors, the compensation report 2018.
Compensation of the Members of the Board of Directors and the Executive Management
The AGM resolved, in accordance with the proposal of the board of directors, that the remuneration of the board of directors shall not exceed a maximum of CHF 1,000,000 for the period until the end of the 2020 annual general meeting. The AGM also approved the variable compensation of the members of the executive management for the business year 2019 with a maximum aggregate amount of CHF 2,400,000 and the fixed compensation for the business year 2020 with a maximum aggregate amount of CHF 2,000,000.
Compensation for AEDC for Business Development Services during the Business Year 2018
The AGM approved, in accordance with the proposal of the board of directors, the compensation of AEDC for business development services provided by AEDC to the Company during the business year 2018 amounting to EUR 503,049.
Compensation for DDM Group Finance Sarl
The AGM approved, in accordance with the proposal of a shareholder, the compensation of up to EUR 4,500,000 for DDM Group Finance Sarl for services to be provided between 1 April 2019 and the end of the next annual shareholders’ meeting in the year 2020.
New Authorized Share Capital
The AGM resolved, that the Board of Directors shall be authorized to increase the share capital in an amount not to exceed CHF 6,780,223.00 through the issuance of up to 6,780,223 fully paid-in registered shares with a nominal value of CHF 1.00 per share by not later than 31 May 2021. The new Authorized Share Capital is a replacement of the previously existing, equivalent mandate in the same amount of CHF 6,780,223.00 under the current art. 3bis which expired on 31 May 2019 and serves the purpose of maintaining an adequate flexibility for the Board of Directors to resolve on capital increases if deemed to be in the best interest of the Company.
This is information which DDM Holding AG is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 14:00 CEST on 18 June 2019.
For more information, please visit DDM’s website at www.ddm-group.ch or contact:
Torgny Hellström, Chairman of the Board
Mail: firstname.lastname@example.org | Tel +46 73 345 13 00
DDM Holding AG (Nasdaq First North, Stockholm: DDM) is a multinational investor in and manager of distressed assets. Since 2007, the DDM Group has built a successful platform in Southern, Central and Eastern Europe, having acquired 2.3 million receivables with a nominal value of over EUR 4.0 billion. DDM Debt AB (publ) (Nasdaq Stockholm: DDM2) is a wholly owned subsidiary of DDM Holding AG. Arctic Securities is DDM Holding AG’s Certified Adviser (email: email@example.com, tel: +46 8 44686100).