General Meeting 2020

the company's Annual General Meeting for the financial year 2019 took place at the company's headquarters in Baar on 23 June 2020. Due to the current situation in connection with the COVID-19 pandemic (coronavirus), this year's Annual General Meeting was held without the physical participation of shareholders and voting rights could only be exercised by the independent proxy.

In total, 6,788,352 shares or votes were represented at this year's General Meeting by the independent voting proxy. This represents 17.78 % (rounded) of the company's entire share capital.

The General Meeting voted to approve the Annual Report, the Annual Financial Statement and the Consolidated Financial Statement for 2019 and acknowledged the reports of the auditor and the group auditor. In addition, the shareholders approved the carryforward of the net loss to new account. Furthermore, the company’s Board of Directors and Group Executive Committee were formally granted discharge for all their activities relating to the financial year 2019. The General Meeting approved the Board of Directors' motion with regard to maximum remunerations for the Board of Directors (for the period up until the next General Meeting) and for the Group Executive Committee (for the financial year 2021). Finally, the acting members of the Board of Directors (Mr. Gerhard Schempp, Mr. Daniel Zimmermann and Mr. Marc J. Gurov), the members of the Remuneration Committee, the independent voting proxy as well as the auditors Ferax Treuhand AG were re-elected for a further year. Dr. Rainer Reichert was not up for re-election, but Mr. Stefan Schmidt was elected as the new President of the Board of Directors as well as a new member of the Board of Directors and of the Remuneration Committee for the term of one year. Please refer to the minutes of the Ordinary General Meeting for the exact voting results of the individual items of the agenda.

The Board of Directors and the Management would like to take this opportunity to thank the shareholders once again for their confidence they have placed in OpenLimit and its executive bodies. In addition to publications - a one-way communication by the company to its shareholders - the Annual General Meeting is normally the most important event of the year to explain the business results and to enter into an active dialogue with our shareholders. Unfortunately, due to the circumstances described above, we were denied active dialogue this year. However, we would like to thank those who have been in active dialogue with us over the phone or in other ways during the year, and we are hopeful that next year's General Meeting will again take place with the physical presence of the shareholders.

Further Information:

Presentation of the General Meeting 2020 (German)
Protocol of the Ordinary General Meeting 2020 (German)


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