HOCHDORF Holding AG: Press release on the extraordinary General Meeting on 29/11/2016 Mittwoch, 30. November 2016 - 07:01

HOCHDORF Holding AG / Key word(s): AGM/EGM
HOCHDORF Holding AG: Press release on the extraordinary General Meeting on
29/11/2016

30.11.2016 / 07:00
Release of an ad hoc announcement pursuant to Art. 53 KR.


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Press release on the HOCHDORF Group Extraordinary General Meeting on
29/11/2016


HOCHDORF moving towards the end user

Hochdorf, 30 November 2016 - The 204 shareholders attending the
Extraordinary General Meeting for HOCHDORF Holding Ltd accepted the
proposals submitted by the Board of Directors. They approved the request
for a conditional capital increase and an increase in the registering and
voting restriction from 5% to 15%. With this decision, the shareholders
have paved the way towards a majority holding in the Pharmalys Group. The
election of Michiel de Ruiter to the Board of Directors was also approved
by a clear majority of shareholders.

The Extraordinary General Meeting was led by Josef Leu, Chairman of the
Board of Directors of HOCHDORF Holding Ltd, with 204 shareholders in
attendance representing a total of 745,411 share votes (79.83 per cent of
the share votes).

Dr Thomas Eisenring, CEO, explained the transaction at the Extraordinary
General Meeting and provided information on various details relating to the
implementation of the majority holding of the Pharmalys companies. Mr
Eisenring outlined the consolidated balance sheet and income statement for
both the HOCHDORF Group and Pharmalys Laboratories SA. The CEO also
referred to the great synergy potential and mentioned some aspects that
would minimise risk. Marcel Gavillet, CFO, outlined details for
implementing the planned capital increase. The compulsory convertible bond
will be paid up on 31.3.2017.

Statute changes approved
Both the conditional capital increase and the increase to the registering
and voting restriction from 5% to 15% were approved by the shareholders by
a substantial majority. This vote supports the HOCHDORF Group's move
towards the end user and its majority holding in Pharmalys Laboratories SA,
Pharmalys Tunisia SA and the new joint venture, Pharmalys Africa Sarl.
Chairman of the Board of Directors, Josef Leu, was delighted by the
approval and the confidence in the company's direction that it represents.

Michiel de Ruiter's election as additional board member
The election of Michiel de Ruiter as an additional member of the Board of
Directors for HOCHDORF Holding Ltd has also met with approval. De Ruiter is
a proven expert in the area of infant formula and his expertise is a
welcome addition to the board.

The presentation to the shareholders' meeting is available on the HOCHDORF
Group website.



Voting results in detail

Agenda item 1 Conditional capital increase
The General Meeting approved the conditional capital increase by 728,283
votes (97.5% of the shareholder votes cast).

Agenda item 2 Increase in the registering and voting restrictions from 5%
to 15%
The General Meeting approved the increase in the registering and voting
restrictions from 5% to 15% by 691,373 votes (94.2% of the shareholder
votes cast).

Agenda item 3 Michiel de Ruiter's election as additional board member
The shareholders elected Michiel de Ruiter onto the Board of Directors by
742,764 votes (99.6%). He was elected up to and including the Annual
General Meeting of 2017.


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End of ad hoc announcement

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Information and Explanation of the Issuer to this News:

In 2015 the HOCHDORF Group, which is headquartered in Hochdorf, generated a
consolidated gross sales revenue of CHF 551.2 million. It is one of the
leading foodstuff companies in Switzerland, with more than 625 employees as
at 31 December 2015. Made from such natural ingredients as milk, wheat
germ, and oilseeds, HOCHDORF products have been contributing to the health
and well-being of the young and old alike since 1895. Our customers include
the food industry and wholesalers and retailers. Our products are sold in
more than 90 countries. HOCHDORF stock is traded on the SIX Swiss Exchange
in Zurich (ISIN CH0024666528).


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