ROMANDE ENERGIE HOLDING SA Press release
Morges, 26 May 2015
113th Annual General Meeting of Romande Energie Holding SA
Shareholders follow all recommendations set forth by Board of Directors The 113th Annual General Meeting of Romande Energie Holding SA was held today. The 96 shareholders in attendance approved the 2014 Annual Report and financial statements, together a dividend per share of CHF 30. Addressing shareholders, the Chairman and CEO drew attention to the Group's strong operating profits and its efforts both to further business development and meet customers' expectations.
The Annual General Meeting of Romande Energie Holding SA took place at the Swiss Tech
Convention Center in Ecublens, Switzerland. Representing 77.69 % of the share capital, the
96 shareholders in attendance approved the Annual Report, the financial statements of
Romande Energie Holding SA and the consolidated accounts of Romande Energie Group for the 2014 financial year. The 2014 remuneration policy of the Board of Directors and the Executive Board was approved through a consultative vote. Additionally, in first-time application of the Swiss Federal Ordinance on Excessive Pay, shareholders were given a say on remuneration, approving the comprehensive amounts for members of the Board of Directors and the Executive Board. Shareholders granted discharge to members of the Board of Directors and the Executive Board for 2016.
The Board of Directors recommended a dividend of CHF 30, unchanged relative to the payment in 2014, to the Annual General Meeting. Shareholders approved this amount, resulting in a total dividend payout of CHF 30.8 m, based on the total number of shares in circulation.
Pursuant to the Swiss Federal Ordinance on Excessive Pay, shareholders proceeded to re- elect, for a term of one year, Guy Mustaki as Chairman of the Board of Directors, and Wolfgang Martz, Christian Budry, Bernard Grobéty, Jean-Jacques Miauton and Michael Wider as directors. Shareholders also took note of the renewal of Paola Ghillani's directorship for a period of one year by the Vaud cantonal government.
The Annual General Meeting next elected Wolfgang Martz, Laurent Ballif, Jean-Yves Pidoux and Laurent Balsiger as members of the Appointments and Human Resources Committee for a duration of one year. Lastly, Ernst & Young SA was re-elected as statutory auditor for the 2015 financial year, and Antoine Perrin, notary in Lausanne, was designated as independent representative for a one-year term.
In his address, the Chairman of the Board of Directors, Guy Mustaki, expressed concern over the fragile context affecting the Swiss hydropower industry, where profit margins have been eroded by low prices on European wholesale markets. Addressing the meeting, he stated that "hydropower faces extremely heavy taxation and is in no way subsidised. The industry, which accounts for close to 60% of national power generation, urgently needs a fair framework if it is to continue".
Pierre-Alain Urech, Chief Executive Officer, spoke of the impetus given by government authorities and customers alike to improve energy efficiency, further renewable sources of power and develop on-site generation. "Romande Energie is rising to these challenges by offering new innovative solutions and packages in the fields of building energy systems, lighting systems and thermal energy," he stated.
Detailed voting results will be posted on the website www.romande-energie.chon 27 May 2015.
114th Annual General MeetingTuesday 24 May 2016, Théâtre de Beausobre, Morges.
ContactKarin Devalte
Head of Communications
Direct line: +41 (0)21 802 95 67
Mobile: +41 (0)79 386 47 67
Email: karin.devalte@romande-energie.ch
Romande Energie at a glance
Romande Energie Group is the leading electricity distributor in Western Switzerland. Through its subsidiary Romande Energie Commerce, it supplies more than 300,000 end-customers directly in approximately 300 municipalities in the cantons of Vaud, Valais, Fribourg and Geneva. Its core business lines are the generation, distribution and marketing of power together with energy services.
Priorities are liaising with customers to ensure high-quality services in line with expectations; guaranteeing a reliable, sustainable and competitive supply of energy; developing proprietary power generation through priority investments in renewable energy; and promoting innovative energy-efficiency solutions.
Romande Energie's corporate social responsibility policy systematically guides its approach to business.
For more information on Romande Energie Group, visit www.romande-energie.ch
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