GENEVA, Switzerland – 28 May 2014 – Temenos AG (SIX: TEMN), the market leading provider of mission critical solutions to the financial services industry, today held its 13th Annual General Meeting (AGM) which was attended by shareholders or proxies representing 40’984’923 shares (56.9% of a total of 72’023’148 registered shares).
Temenos shareholders approved all proposals from the Board of Directors by a clear majority.
At the AGM, shareholders approved a distribution of general reserve from capital contributions (dividend) of CHF 0.35 per share in respect of the year ending on 31 December 2013, the company’s second dividend payment and a reflection the growing maturity of the company and the strength of its cashflows.
Shareholders also elected Ms. Amy Yip as a new member of the Board of Directors and, with the exception of Mr. Chris Pavlou, who retired at the AGM, all other current members of the Board of Directors and its Chairman were re-elected, each for a term of office until the completion of the next ordinary general meeting.
Further, shareholders approved all proposed amendments and new provisions of the Articles of Association to implement the new Ordinance against excessive compensation in listed stock companies that entered into force on 1 January 2014.
Further resolutions approved by the majority of shareholders related to:
- 2013 Annual Report, 2013 annual financial statements (including the compensation report), 2013 consolidated financial statements and the auditors’ reports;
- allocation of the available earnings;
- capital reduction;
- discharge of members of the Board of Directors and executive management;
- elections of the proposed members of the Compensation Committee;
- election of the firm Poncet Buhler Lacin & Vallery as independent proxy holder; and
- re-election of PricewaterhouseCoopers SA, Geneva, as auditors.