zCapital AG
zCapital AG: Open Letter to the Shareholders of Komax Holding AG
zCapital AG / Key word(s): AGM/EGM/Funds Open Letter to the Shareholders of Komax Holding AG Zug, 16 April 2015 Strengthen the shareholder democracy and support the removal of the 5% voting rights and registration restriction. Your vote counts! Dear fellow shareholders, As a shareholder (1.7% of outstanding shares) of Komax Holding AG, zCapital AG has set an agenda item for the Annual General Meeting on May 8, 2015. We are requesting the abolition of the 5% voting rights and registration restrictions. These restrictions represent a limitation on voting rights, the most significant shareholder right. The requested abolition should help to strengthen the position of shareholders as owners of the company and to win new shareholders for Komax. This should have a positive impact on the share price. We are asking for your support: enter your shares in the share register before the deadline for exercising voting rights (May 6, 2015) and vote! The voting rights restriction harms shareholders The corporate governance of the company, however, is not at the same level of quality. The Board of Directors can limit the registration of shares and voting rights of shareholders at 5%. This unilateral instrument effectively serves as a barrier to entry: it “protects” the Board of Directors to the detriment of shareholders. Of a particular concern is the discretionary “can” wording in the articles of association. This gives the Board the right to arbitrary grant preferred shareholders an exception to the 5% rule. Counterarguments of the Board are not valid The Board further argues that the restrictions on registration and voting are in the interest of a “diversified and balanced shareholder base.” The truth, however, is that many potential shareholders, investment and pension funds nowadays avoid companies that continue to curtail the rights of shareholders. Only with the abolition of these restrictions would Komax give the capital market a clear signal that new shareholders are welcome and that their rights are 100% respected. This would help to make a lasting positive impact on the share price. A high share price is actually the best protection against a takeover. Vote – in your own interest! CEO Hilmar Langesand is available to answer any of your questions at +41 41 729 80 80 or info@zcapital.ch. zCapital AG About zCapital +++++ Additional features: Document: http://n.equitystory.com/c/fncls.ssp?u=RALIOJCUJL Document title: Open letter to Komax shareholders 2015-04-16 This Corporate News was distributed by EQS Schweiz AG. www.eqs.com – news archive: http://switzerland.eqs.com/de/News The issuer is responsible for the contents of the release. |
344875 2015-04-16 |