At today’s Ordinary Annual General Meeting of Julius Baer Group Ltd., Gilbert Achermann and Andreas Amschwand were elected as new members of the Board of Directors for a one-year term. The Board members Leonhard Fischer and Claire Giraut were re-elected, also for a one-year term. As previously announced, Chairman Raymond J. Baer did not seek re-election after nine years in office. He is succeeded by Board member Daniel J. Sauter as of today. Furthermore, the shareholders approved the distribution of CHF 1.00 per registered share and the proposed capital reduction.
In detail, the Ordinary Annual General Meeting 2012 of Julius Baer Group Ltd. passed the following resolutions:
The annual report, the financial statements and the Group accounts for the year 2011 were approved.
The dissolution and distribution of roughly CHF 196 million “share premium reserve/capital contribution reserve” was approved. The amount corresponds to a distribution of CHF 1.00 per registered share, of which CHF 0.60 is considered as ordinary and CHF 0.40 as special distribution. The distribution is not subject to the Swiss withholding tax and will be paid free of expense from 18 April 2012.
The members of the Board of Directors and of the Executive Board were discharged for the 2011 financial year.
Gilbert Achermann and Andreas Amschwand were elected as new members of the Board of Directors for a one-year term. The Board members Leonhard Fischer and Claire Giraut were re-elected, also for a one-year term. Raymond J. Baer and Peter Kuepfer did not seek re-election after many years in office.
10 240 000 own shares with a par value of CHF 0.02 each which were bought back until 28 February 2012 under a share buyback programme will be destroyed. Thus, the share capital will be reduced by CHF 204 800 and the Articles of Incorporation amended accordingly.
KPMG AG, Zurich, was appointed as Statutory Auditors for another one-year period.
The Chairman’s address by Raymond J. Baer and the presentation by Chief Executive Officer Boris F.J. Collardi are available on www.juliusbaer.com/agm (see link on the right).