Publigroupe AGM: Defeat for Laxey
Defeat for Laxey at Publigroupe's Annual General Meeting: on Wednesday, shareholders overwhelmingly rejected the hedge fund's proposal to lift the restriction on registration and voting rights. 83.63 percent of the votes said no to the British company's proposal to lift the current restriction of 5 percent.
Defeat for Laxey at Publigroupe's Annual General Meeting: on Wednesday, shareholders overwhelmingly rejected the hedge fund's proposal to lift the restriction on registration and voting rights. 83.63 percent of the votes said no to the British company's proposal to lift the current restriction of 5 percent. The 104 shareholders at the Annual General Meeting in Lausanne, representing 53.28% of the capital, thus supported the Publigroupe Board of Directors by a large majority.
The latter has rejected a change to the restriction on registration and voting rights on the grounds that the current regulation is crucial for protecting the company's independence. In addition, the restriction on registration and voting rights is in the interests of the company's owners as well as its partners and customers (see
). Chairman of the Board of Directors Philippe Pidoux welcomed the shareholders' clear decision in a press release. The Annual General Meeting also approved all other proposals of the Board of Directors with clear majorities, as Publigroupe also announced. The proposed increase in the dividend from CHF 12 to CHF 13 was approved. Finally, the Annual General Meeting elected Etienne Jornod, Muri bei Bern, as a new member of the company's Board of Directors and confirmed the existing members Christian Budry, Gerhart Isler and Felix Weber in their positions.
The latter has rejected a change to the restriction on registration and voting rights on the grounds that the current regulation is crucial for protecting the company's independence. In addition, the restriction on registration and voting rights is in the interests of the company's owners as well as its partners and customers (see
). Chairman of the Board of Directors Philippe Pidoux welcomed the shareholders' clear decision in a press release. The Annual General Meeting also approved all other proposals of the Board of Directors with clear majorities, as Publigroupe also announced. The proposed increase in the dividend from CHF 12 to CHF 13 was approved. Finally, the Annual General Meeting elected Etienne Jornod, Muri bei Bern, as a new member of the company's Board of Directors and confirmed the existing members Christian Budry, Gerhart Isler and Felix Weber in their positions.
