Annual Shareholder Meeting approves all proposals of the Board of Directors
94 shareholders attended the Annual Shareholder Meeting of COMET Holding AG in Berne, which together with the votes granted to independent shareholder representative represented a total of 322'643 (or 42.59%) of the voting rights of COMET Holding AG. The Annual Shareholder Meeting approved the Board of Directors' proposals in all agenda items.
The Annual Shareholder Meeting approved the 2010 financial report and financial statements. Retained earnings of CHF 9.9 million were carried forward to new account. In addition, the transfer of additional paid in capital to the item distributable paid-in capital and the distribution to shareholders from distributable paid-in capital, free of withholding tax, of CHF 3.50 per registered share, which had been proposed by the Board of Directors, was also confirmed. Shareholders will receive the payment on May 4, 2011. The Board of Directors was granted full discharge for 2010.
Approval of the financial statements and the distribution from previous contributions
The authorized capital provided for in the Articles of Incorporation of 150,000 shares each at CHF 10, or a total nominal amount of CHF 1,500,000, was once again approved. This ensures that the COMET Group has the necessary flexibility in the future to quickly exploit attractive opportunities by using some equity capital.
Renewal of authorized capital
Current members of the Board of Directors Hans Hess, Hans Leonz Notter, Lucas A. Grolimund and Rolf Huber were appointed to another term, ending at the 2012 Annual Shareholder Meeting. Thomas Hinderling did not stand for re-election due to health reasons. The Board of Directors would like to thank him for his valuable contribution.
Re-election of members of the Board of Directors
The Annual Shareholder Meeting also accepted the Board of Directors' proposal to extend the mandate of Ernst & Young AG as the auditors of COMET Holding AG for one more year. Ernst & Young AG has already confirmed in writing that it will be pleased to accept the mandate.
Selection of the auditors