EQS Group-News: Dynamics Group AG / Key word(s): Miscellaneous
The invitation to the Annual General Meeting does not include the arguments in favor of Sentis Capital's proposals. MBT unilaterally publishes only the statements of the Board of Directors.
On the website www.changemeyerburger.ch/en/meyer-burger-gv/ , under "Meyer Burger AGM", all arguments and recommendations of Sentis Capital regarding the individual agenda items can be found now.
The main proposals are as follows:
- Remuneration: Despite rejection of the remuneration report in the previous year, no significant improvements were made to the remuneration model. Remuneration must be based on the size and economic situation of the company.
- Elections: The proposed re-election of Dr. Franz Richter is an indication that the Board of Directors is still not fully willing to come to terms with its past. As a member of the Remuneration Committee, Mr. Richter is also co-responsible for the excessive remuneration.
- Authorized capital: The complex and costly handling of a simple investment - such as recently in the start-up company Oxford PV - in a nontransparent, pre-arranged triangular relationship with a major Swiss bank and excluding subscription rights for existing shareholders (expropriation of existing shareholders!) is clear proof that such an instrument must not be given to this Board of Directors. Authorized capital needs trust. Meyer Burger must first earn this.
- Corporate governance: Sentis proposes significant improvements in the interests of shareholders. For example, the right of shareholders to convene a General Meeting with 5% of the voting share capital and an amended right to put items on the agenda. In addition, the entire term of office of the auditors is to be limited to 10 years. The proposals are largely based on the resolutions and recommendations of the Federal Council and the National Council on the forthcoming revision of company law.
Document title: Sentis Capital_17.04.2019
End of Corporate News