Valartis : Outcome of the Valartis Group AG General Meeting 2016

Valartis Group AG / Outcome of the Valartis Group AG General Meeting 2016 . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.

At the 28th Ordinary General Meeting of Valartis Group AG on 28 June 2016, held at SIX Swiss Exchange, Convention Point Zurich, the 22 shareholders who were present as well as the share­holders represented by the independent proxy endorsed all the motions proposed by the Board of Directors. Gustav Stenbolt was re-elected Chairman of the Board of Directors and Christoph N. Meister as member of the Board of Directors for a further term of office. Philipp LeibundGut was elected as new member of the Board of Directors. Out of the total of 5,000,000 bearer shares with a par value of CHF 1.00, 2'796'407 or 55.93 percent of total capital and votes were represented at this year's General Meeting.

Endorsement of Group consolidated financial statement, Management Report and annual accounts
The Valartis Group AG consolidated financial statement, the Management Report and the annual accounts for FY 2015 were approved by a considerable majority at the General Meeting.

Discharge of liability for members of the Board of Directors & Group Executive Management
Appropriation of retained earnings of Valartis Group AG
Shareholders discharged all members of the Board of Directors individually, with the exception of Urs Maurer-Lambrou, and discharged all members of the Group Executive Management individually from liability for FY 2015 by a considerable majority.
In addition, the General Meeting approved by a considerable majority the motion put forward by the Board of Directors relating to appropriation of retained earnings and resolved to waive payment of a dividend and, instead, to carry the net earnings amounting to CHF 48.7 m forward to the next year.

Approval of Compensation Report
The 2015 Compensation Report was approved by a considerable majority in an advisory vote.

Endorsement of compensation for members of the Board of Directors and Group Executive Management
The General Meeting endorsed by a considerable majority the total compensation package for the Board of Directors for the period from the General Meeting 2016 to the General Meeting 2017, together with the total compensation package (excluding bonuses to be paid to members of Group Executive Management) for the Group Executive Management for FY 2017 (fixed compensation), and unanimously approved the motion not to pay a bonus to Group Executive Management for FY 2015 (no variable compensation).

Re-election and initial election to the Board of Directors
Shareholders re-elected Gustav Stenbolt as Chairman of the Board of Directors and Christoph N. Meister as member of the Board of Directors by a considerable majority as well as Philipp LeibundGut as new member of the Board of Directors - each for a term of office up to conclusion of the next Ordinary General Meeting.

Stephan Häberle is no longer available for re-election as a member of the Board of Directors. The Board of Directors would like to thank Mr. Häberle for his willingness - at short notice - to perform the double function as Group CEO and as member of the Board during the current crisis.

Philipp LeibundGut, born 1973, a graduate of the University of Applied Science of beider Basel (FHBB). From 2011 - 2015, Philippe LeibundGut headed the Business Segment Institutional Clients of Valarits Group and was member of the Valartis Bank AG, Switzerland until the bank was sold in 2014. His area of responsibilities comprised the activities Corporate Finance, Structured Finance and the Port­folio/Fund Management of the Bank. From 2002 to 2006 he was a member of the Executive Board of Valartis Asset Management SA, from 2005 to 2011, a member of the Board of Directors of Valartis Group, Valartis Bank (Liechtenstein) AG, Valartis Bonus Card AG as well as Eastern Property Holdings Ltd., Tortola, and a member of the Supervisory Board of Valartis Bank (Austria) AG. During this period, Philipp LeibundGut was significantly involved in setting-up and developing Valartis Group. Prior to that, Philipp LeibundGut was an investment advisor at Hansa AG in Baar, canton of Zug, from 1998 to 2001. His area of responsibility also included the setting-up of a portfolio in Russia.

Elections to the Compensation Committee
The General Meeting elected Messrs Christoph N. Meister and Gustav Stenbolt as well as Philipp LeibundGut as members of the Compensation Committee by a considerable majority - each for a term of office up to conclusion of the next Ordinary General Meeting.

Re-election of auditors and independent proxy for voting rights
Shareholders endorsed election of the auditor (Ernst & Young AG, Zurich) for a period of one year by a considerable majority and unanimously re-elected the independent proxy for voting rights (Martin Rechtsanwälte GmbH, Stadthausstrasse 12, 8400 Winterthur) up to conclusion of the next Ordinary General Meeting.

For further information, please contact:
Kim-My Schefer, Head Corporate Communications & Marketing
Tel. +41 44 503 54 02, corporate.communications@valartis.ch

Valartis Group
Valartis Group is an international finance group with offices in Switzerland, Vienna, Liechten­stein, Luxembourg, Moscow and St. Petersburg. Valartis Group AG (Baar, Switzerland) is listed on the Swiss stock exchange, SIX Swiss Exchange. Operations include the fields of Corporate Finance, Private Equity and Real Estate Management together with participations in the financial services sector.
www.valartisgroup.ch

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Valartis Group AG
Blegistrasse 11a Baar ZG Switzerland

ISIN: CH0001840450;