Ad-hoc: LEM shareholders approve all AGM resolutions
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
Geneva, Switzerland, 1 July 2022 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 yesterdays Annual General Meeting held at LEM headquarters in Geneva. The gross dividend of CHF 50.00 per share will be paid on 7 July 2022.
Shareholders owning a total of 920,433 shares, representing 80.74% 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 2022.
Appropriation of available earnings, and distribution of an ordinary dividend of CHF 50.00 per share, the net amount after Swiss withholding tax being CHF 32.50 payable on 7 July 2022.
Approval of the compensation of the Board of Directors and the Executive Management. As of the financial year 2022/23, the current cash-based long-term compensation plan for Executive Management will be replaced by a share-based Performance Share Unit (PSU) plan.
Amendment to the Articles of Incorporation to move the registered office of LEM HOLDING SA from Plan-les-Ouates to Meyrin.
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.
The minutes of the AGM will be published on LEMs website as soon as they are available.
Andreas Hürlimann, Chairman, said: As we celebrate LEMs 50th anniversary with record annual results, we are delighted to offer our shareholders a special dividend of CHF 50 per share. Looking beyond this years exceptional performance, LEMs long-term prospects are driven by megatrends such as energy efficiency, renewable energy, mobility, and automation. In combination with our long-term strategy, this will create sustainable value for all stakeholders. Recent geopolitical events highlight the need to accelerate the worlds efforts to decarbonize energy supplies, and power electronics is a key enabler of this process.
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 working tirelessly to mitigate the supply chain constraints and adapt to the fluctuating impediments of the pandemic. I would also like to extend our gratitude to our customers, suppliers and business partners for their continued trust and close collaboration.
The financial year runs from 1 April to 31 March
5 July 2022
7 July 2022
Dividend payment date
28 July 2022
First quarter results 2022/23
8 November 2022
Half year results 2022/23 and Capital Markets Day at new HQ in Geneva
6 February 2023
9 months results 2022/23
25 May 2023
Full year results 2022/23
29 June 2023
Annual General Meeting of Shareholders for the financial year 2022/23
4 July 2023
6 July 2023
Dividend payment date
LEM Life Energy Motion
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 1,500 people in over 15 countries transform technology potential into powerful answers. We develop and recruit the best global talent, working at the forefront of mega trends such as renewable energy, mobility, automation and digitization.
With innovative electrical solutions, we are helping our customers and society accelerate the transition to a sustainable future.
Listed on the SIX Swiss Exchange since 1986, the companys ticker symbol is LEHN.
Contact: Investment community
Andrea Borla, Chief Financial Officer
Phone: +41 22 706 1250
Cabinet Privé de Conseils s.a. (CPC)
Nick Miles, firstname.lastname@example.org, mobile +41 79 678 76 26
Michael Füglister, email@example.com, mobile +41 78 839 07 62
End of ad hoc announcement
Company: LEM HOLDING SA
CHEMIN DES AULX 8
Phone: +41 (0)22 706 11 11
Fax: +41 (0)22 794 94 78
Listed: SIX Swiss Exchange
End of Announcement