Both the management report and the annual and consolidated financial statements for 2019 were approved by the Annual Shareholder Meeting. The shareholders granted the Board of Directors and the Executive Board discharge for 2019. The proposed dividend of CHF 1.00 per eligible share was approved. Payment will be made on April 29, 2020.

Re-elections

Members of the Board of Directors Heinz Kundert, Prof. Gian-Luca Bona, Dr. Mariel Hoch, Rolf Huber and Patrick Jany were up for re-election and duly re-elected for a term of one year until the Annual Shareholder Meeting in 2021. Heinz Kundert was again confirmed in office as Chairman of the Board of Directors. Ernst & Young AG were chosen again as auditors for the 2020 business year; as was Mr. Patrick Glauser, Fiduria AG, as independent proxy for the period up to and including the Annual Shareholder Meeting in 2021.

Constitution of the Board of Directors

The Board of Directors has divided its responsibilities as follows: Rolf Huber will continue in his function as Vice Chairman. He will however hand over the leadership of the Nomination and Compensation Committee to Dr. iur. Mariel Hoch, and instead serve as member of both the Nomination Committee and the Audit Committee. The Audit Committee will continue to be chaired by Patrick Jany. The Technology Committee will continue to be chaired by Prof. Gian-Luca Bona who will be supported by Heinz Kundert.

Amendments to the Articles of Association

The Annual General Meeting approved the proposed amendment to Art. 3a (1) of the Articles of Association. With this amendment, the Board of Directors is authorized to increase the share capital at any time until April 23, 2022 by issuing a maximum of 800,000 fully paid registered shares with a nominal value of CHF 1.00, to a maximum value of CHF 800,000. The proposal to remove the age limit for members of the Board of Directors of 70 years in the interests of good governance was also accepted by the shareholders.

Approval of proposals concerning remuneration of Board of Directors and Executive Committee

The shareholders approved the remuneration of the members of the Board of Directors for the coming term, the fixed remuneration of the Executive Committee for the 2021 business year, and the variable remuneration of the Executive Committee for 2019.

The proposal of Board of Directors to have the 2019 compensation report submitted for approval in an advisory vote was also approved.

The next Annual Shareholder Meeting of Comet Holding AG will be held on April 22, 2021 in the Berne region.