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Report from Annual General Meeting in DDM Holding AG
Today, DDM Holding AG (First North: DDM), (“DDM” or the “Company”) a multinational investor and manager of distressed assets, held its Annual General Meeting (“AGM”) in Zurich, Switzerland. All resolutions were passed with the required majority.
The AGM resolved to adopt the presented Income Statement and Balance Sheet, and the Consolidated Income Statement and Consolidated Balance Sheet. The Meeting also resolved to appropriate the Company’s profit or loss in accordance with the Board of Directors’ proposal in the Annual Accounts. Additionally, the Meeting resolved that no dividend is paid for the financial year 2014.
The AGM resolved to discharge the Board members and Chief Executive Officer from liability.
The AGM resolved that the Board of Directors will consist of Kent Hansson, Torgny Hellström, Savvas Liasis, Manuel Vogel and Fredrik Waker. Kent Hansson was re-elected as Chairman of the Board. By consultative vote it was resolved that the Board of Directors’ remuneration shall amount to the maximum aggregate amount of CHF 900,000 until the AGM 2016.
The AGM adopted the Board of Directors’ proposal to amend the Company’s articles of association as follows:
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to create authorized capital in the amount of up to CHF 3,550,000 (equivalent to 3,550,000 shares), that the authorization be limited to two years
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create conditional capital in the amount of up to CHF 500,000 in order to establish a share purchase plan for employees and members of the Board of Directors
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that the term of office of the members of the Board of Directors be reduced to one year
The AGM also resolved that, as in the previous year, auditors’ fees are payable in accordance with approved account, on the customary debiting terms. It was resolved that PricewaterhouseCoopers AG, Luzern, continue as the Company’s Independent Auditors until the next AGM.