LEM shareholders approve all resolutions at AGM

Geneva, Switzerland, 30 June 2023 – LEM (SIX: LEHN), a leading global company in electrical measurement for renewable energy, automation, power network and e-mobility applications, announces that all resolutions were approved by shareholders at yesterday’s Annual General Meeting held at LEM headquarters in Geneva. The gross dividend of CHF 52.00 per share will be paid on 6 July 2023.

Shareholders owning a total of 893,979 shares, representing 78.42% of the share capital, cast their vote. A strong majority followed the Board of Directors’ recommendations and approved all the resolutions, the main ones being:

• Approval of the management report, the consolidated financial statements of the LEM Group and the annual financial statements of LEM HOLDING SA as at 31 March 2023.
   
• Appropriation of available earnings, and distribution of an ordinary dividend of CHF 52.00 per share, the net amount after Swiss withholding tax being CHF 33.80 payable on 6 July 2023.
   
• Approval of the compensation of the Board of Directors and the Executive Management.
   
• Re-election of all six members of the Board for a term of one year, including the role of Chairman, and membership of the Nomination & Compensation Committee.
   
• Amendments to the Articles of Incorporation to reflect the Swiss corporate law reform, which came into force on 1 January 2023.

The minutes and voting results of the AGM will be published on LEM’s website as soon as they are available within the deadlines required by law.

Andreas Hürlimann, Chairman, said: “As we report again record annual results, we are delighted to offer our shareholders a dividend of CHF 52 per share. This year’s performance is once again evidence of the fundamental demand for our products, which are driven by mega trends such as energy efficiency, renewable energy, mobility, and automation. These mega trends are accelerating and will offer many opportunities to capture growth and create long-term value for all stakeholders.

In light of this, we will continue to make substantial investments in the professional development of our employees, in research and development to propel innovative solutions, and in key infrastructure projects, such as our new production plant in Malaysia and advanced IT systems.

On behalf of the entire Board of Directors and the Executive Management, I thank shareholders for the confidence they have placed in us. Special thanks go to our employees worldwide for their flexibility and determination to find creative solutions. I would also like to extend our gratitude to our customers, suppliers and business partners for their continued trust and excellent collaboration.” 

Financial calendar

The financial year runs from 1 April to 31 March

4 July 2023

Dividend ex-date

6 July 2023

Dividend payment date

27 July 2023

First quarter results 2023/24

10 November 2023

Half year results 2023/24

2 February 2024

9 months results 2023/24

28 May 2024

Full year results 2023/24

27 June 2024

Annual General Meeting for the financial year 2023/24

2 July 2024

Dividend ex-date

4 July 2024

Dividend payment date

A leading company in electrical measurement, LEM engineers the best solutions for energy and mobility, ensuring that our customers’ systems are optimized, reliable and safe.

Our 1,700 people in 17 countries transform technology potential into powerful answers. We develop and recruit the best global talent, working at the forefront of megatrends such as renewable energy, mobility, automation, and digitization. With innovative electrical solutions, we are helping our customers and society accelerate the transition to a more sustainable future.

Listed on the SIX Swiss Exchange since 1986, the company’s ticker symbol is LEHN.

www.lem.com 

Contact: Investment community

Andrea Borla, Chief Finance Officer

Phone: +41 22 706 1250

Email: investor@lem.com 

Contact: Media

Cabinet Privé de Conseils s.a. (CPC)

Michael Füglister: fuglister@cpc-pr.com, mobile: +41 78 839 07 62

Etienne Vioget: vioget@cpc-pr.com, mobile: +41 79 560 54 83