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DDM Holding AG
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DDM Debt AB
Report from the Annual General Meeting of Shareholders of DDM Holding AG
DDM Holding AG (First North: DDM), (the “Company”), held its Annual General Meeting (the “AGM”) today, 31 May 2017, in Zurich, Switzerland. A summary of a selection of the AGM resolutions is presented below.
Minutes of the AGM
The minutes of the AGM, including a complete account of all resolutions taken, are expected to be posted on the Company’s website http://ddm-group.ch/investors within a few days.
General revision of the Articles of Association
The AGM approved the proposed general revision of the Company’s articles of association, including an amendment of its corporate purpose.
Authorized Share Capital and Conditional Share Capital
As proposed by the board of directors, today’s AGM resolved on the amendment of the authorized share capital as well as the conditional share capital. Furthermore, a new conditional share capital, which may be utilized in connection with the Company’s debt financing, has been approved.
Approval of the Annual Report, the Statutory Financial Statements and the Consolidated Financial Statements 2016
Following the board of directors’ proposal, the AGM approved the annual report, the statutory financial statements and the consolidated financial statements 2016.
Appropriation of Available Earnings 2016
The AGM resolved to carry forward the loss of CHF 145,518 (EUR 162,588).
Election of Board Members
Kent Hansson (chairman), Torgny Hellström, Manuel Vogel, Fredrik Waker were re-elected as members of the board of directors.
Erik Fällström and Andreas Tuczka, representing the new main investor Aldridge EDC Specialty Finance Ltd., were elected as new members of the board of directors.
Erik Fällström was the co-founder and former owner of 40% of HOIST Finance, a large European acquirer of consumer non-performing debt. Andreas Tuczka was previously a partner at Lone Star Europe, most recently as Head of European Financial Institutions.
Andreas Tuczka said “Having followed the DDM Group for quite some time, we look forward to working together with the rest of the board and management to execute on and accelerate DDM’s growth strategy. DDM’s focus on Central and Eastern Europe in particular provides exceptional opportunities that we, through our experience and network, hope to be able to leverage further”.
The elections are each for a term of one year ending after completion of the next annual general meeting.
Election of the Remuneration Committee
Torgny Hellström (chair) and Kent Hansson were elected as members of the remuneration committee for a term of one year ending after completion of the next annual general meeting.
Re-Election of the Independent Proxy
Dr. Florian S. Jörg, attorney-at-law, was re-elected as independent proxy for a term of one year ending after completion of the next annual general meeting.
Re-Election of the Statutory Auditors
PricewaterhouseCoopers AG (CHE‑434.873.063), Luzern, was re-elected as the statutory auditors for the business year 2017.
Consultative Vote on the Compensation Report 2016
The AGM approved, on a consultative basis and as proposed by the board of directors, the compensation report 2016.
Compensation of the Members of the Board of Directors and the Executive Management
The AGM resolved, in accordance with the proposal of the board of directors, that the remuneration of the board of directors shall not exceed a maximum of CHF 950,000 for the period until the end of the 2018 annual general meeting and approved the compensation of the members of the executive management for the business year 2017 with a maximum aggregate amount of fixed compensation of CHF 750,000 and a maximum aggregate amount of CHF 900,000 as variable compensation.
This is information which DDM Holding AG is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 11:15 CEST on 31 May 2017.