UBS shareholders approve all of Board of Directors’ proposals at AGM

Maria Nikolova

The shareholders approved a dividend distribution of $0.365 per share and a special dividend reserve of $0.365 per share.

UBS Group AG (SWX:UBSG) has just reported the results of the Annual General Meeting 2020. UBS shareholders approved all of the Board of Directors’ proposals at the AGM.

Virtually all shareholders (99.08%) approved the management report and the consolidated and standalone financial statements for the financial year 2019 of UBS Group AG. Shareholders also approved the Compensation Report 2019 with 84.63% in an advisory vote.

About 96% of shareholders’ votes were cast in favor of the appropriation of total profit and an ordinary dividend distribution of USD 0.365 (gross) per share in cash and the appropriation of USD 0.365 (gross) per share to a special dividend reserve. Let’s recall that this dividend plan was made in accordance with a request by the Swiss Financial Market Supervisory Authority (FINMA).

Some 94% of the votes were in favor of the discharge of the members of the Board of Directors and the Group Executive Board for the financial year 2019 (excluding all issues related to the French cross-border matter).

The Annual General Meeting confirmed the Chairman of the Board of Directors, Axel A. Weber (92.39%), and fellow Board members Jeremy Anderson (98.48%), William C. Dudley (98.76%), Reto Francioni (98.37%), Fred Hu (89.22%), Julie G. Richardson (97.70%), Beatrice Weder di Mauro (98.99%), Dieter Wemmer (98.89%) and Jeanette Wong (98.82%) for another year. Shareholders elected Mark Hughes (98.74%) and Nathalie Rachou (95.10%) as new members of the Board of Directors for a one-year term.

Furthermore, the shareholders elected Julie G. Richardson (92.85%), Reto Francioni (93.80%), Dieter Wemmer (94.04%) and Jeanette Wong (97.70%) to the Compensation Committee for a one-year term.

About 88% of the votes were cast in favor of the proposed maximum aggregate amount of compensation for the members of the Board of Directors from the Annual General Meeting 2020 to the Annual General Meeting 2021. As FinanceFeeds has reported, UBS’s Board of Directors proposes that the maximum aggregate amount of compensation of CHF 13,000,000 for the members of the Board of Directors for the period from the 2020 AGM to the 2021 AGM be approved.

Shareholders also approved the aggregate amount of variable compensation for the members of the Group Executive Board for the financial year 2019. The maximum aggregate amount of fixed compensation for the members of the Group Executive Board for the financial year 2021 was also given green light.

Finally, the shareholders approved the re-election of the independent proxy ADB Altorfer Duss & Beilstein AG, Zurich, and the auditor Ernst & Young Ltd, Basel.

Read this next

blockdag

Top Bullish Crypto: Fetch.ai & Pepe Coin Price Surge, But BlockDAG Sees Investor Rush as X Series Miners Stand Out

Compare Fetch.ai (FET) Bull Run, Pepe Coin price, and top bullish crypto BlockDAG. Discover why BlockDAG’s innovation and growth potential make it the best choice.

Digital Assets

Coinbase resumes XRP trading in New York after nine-month hiatus

Coinbase has resumed trading for XRP in New York, the company’s chief legal officer, Paul Grewal, announced on Thursday. This comes after a nine-month suspension of the cryptocurrency on the exchange due to regulatory scrutiny.

Institutional FX

Swissquote joins Fortex Hub to expand liquidity distribution

ECN trading platform and technology provider, Fortex Inc. has announced a new integration with Swissquote Group, Switzerland’s provider of online trading services.

Chainwire

Multipool Enters Partnership with Mobilum Offering Users Fiat to DeFi On/Off Ramp

Multipool, a leading innovator in the blockchain and cryptocurrency industry announces a corporate partnership with Mobilum.

Retail FX

IC Markets taps TipRanks’ trading research tools

Sydney-based IC Markets has completed integration of TipRanks’s rating tools, which ranks analysts and financial bloggers based on their picks’ performance analysis, in a bid to provide its clients with new research capabilities.

Digital Assets

Gate.io shelves plan to operate in Hong Kong

Gate Digital Ltd (Gate HK) announced it is winding down operations and has withdrawn its application for a crypto trading platform license in Hong Kong.

Chainwire

Sui and Mesh Combine Forces to Bring Simplified Transactions Across the Sui Ecosystem

With the addition of the Mesh platform, Sui Wallet will achieve product parity with the world’s largest self-custody wallets, while Mesh now natively supports the SUI token

Market News, Tech and Fundamental, Technical Analysis

EURGBP Technical Analysis Report 23 May, 2024

EURGBP currency pair can be expected to rise further toward the next resistance level 0.8560.

Digital Assets

Bybit denies financial woes and hacking rumors

Ben Zhou, CEO of Dubai-based cryptocurrency exchange Bybit, has refuted circulating rumors that the platform has been hacked or is insolvent. Zhou addressed the speculations in a post on the social media platform X.

<