Sonova shareholders approve all motions of the Board of Directors Donnerstag, 11. Juni 2020 - 17:45

Media Release

Stäfa (Switzerland), June 11, 2020 – At the 35th Annual General Meeting of Sonova Holding AG in Stäfa, all of the proposals submitted by the Board of Directors were approved.

As a result of the exceptional circumstances due to COVID-19 pandemic, it was not possible for shareholders to attend the Annual General Shareholders’ Meeting in person. Instead, the shareholders could cast their vote exclusively through the independent proxy.

The shareholders approved the Annual Report, the Annual Consolidated Financial Statements of the Group and the Annual Financial Statements of Sonova Holding AG for the 2019/20 financial year and authorized the proposed appropriation of retained earnings and the distribution of a stock dividend. Each shareholder will be entitled to receive one Sonova share for 150 existing Sonova shares. In case of fractional entitlements, the number of shares will be rounded down so that each shareholder will receive an integer number of Sonova shares, and the fraction will be paid out in cash. The delivery of Sonova shares and payment in lieu of fractional entitlements is expected to occur as from June 18, 2020. Sonova will pay the 35% Swiss withholding tax on the grossed up nominal value per distributed Sonova share and the Swiss securities transfer tax incurred in connection with the sale of the Sonova shares to satisfy the fractional entitlements.

The shareholders formally approved the actions of the members of the Board of Directors for their activities during the 2019/20 financial year. All members of the Board of Directors stood for re-election for a further term of office and were re-elected individually. Chairman of the Board of Directors Robert F. Spoerry was also confirmed in office. Furthermore, Adrian Widmer (born in 1968, Swiss citizen) was newly elected to the Board of Directors. Re-elected to the Nomination & Compensation Committee were Robert F. Spoerry (Chairman), Beat Hess and Stacy Enxing Seng.

The compensation report for the 2019/20 financial year was accepted by shareholders in a non-binding advisory vote. Shareholders also approved in two separate binding votes the maximum aggregate amount of compensation of the Board of Directors covering the period from the AGM 2020 to the AGM 2021 and the maximum aggregate amount of compensation of the Management Board for the 2021/22 financial year. Furthermore, the creation of authorized share capital and the respective amendment to the Articles of Association was approved.

Ernst & Young AG, Zurich, was newly elected as auditors for a period of one year. The Law Office Keller Partnership, Zurich, was re-elected as the Independent Proxy.

The next AGM will be convened on June 15, 2021.

The minutes (in German) of the AGM 2020 will soon be available on our website at www.sonova.com/en/AGM

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Disclaimer

This Media Release contains forward-looking statements, which offer no guarantee with regard to future performance. These statements are made on the basis of management’s views and assumptions regarding future events and business performance at the time the statements are made. They are subject to risks and uncertainties including, but not confined to, future global economic conditions, exchange rates, legal provisions, market conditions, activities by competitors and other factors outside Sonova’s control. Should one or more of these risks or un¬certainties materialize or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. Each forward-looking statement speaks only as of the date of the particular statement, and Sonova undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law.

About Sonova

Sonova, headquartered in Stäfa, Switzerland, is a leading provider of innovative hearing care solutions. The Group operates through its core business brands Phonak, Unitron, Hansaton, Advanced Bionics and AudioNova. Sonova offers its customers one of the most comprehensive product portfolios in the industry – from hearing instruments to cochlear implants to wireless communication solutions.

Pursuing a unique vertically integrated business strategy, the Group operates through three core businesses – hearing instruments, audiological care and cochlear implants – along the entire value chain of the hearing care market. The Group’s sales and distribution network, the widest in the industry, comprises over 50 own wholesale companies and more than 100 independent distributors. This is complemented by Sonova’s audiological care business, which offers professional audiological services through a network of around 3,500 locations in 19 key markets.

Founded in 1947, the Group has a workforce of over 15,000 dedicated employees and generated sales of CHF 2.92 billion in the financial year 2019/20 as well as a net profit of CHF 490 million. Across all businesses, and by supporting the Hear the World Foundation, Sonova pursues its vision of a world where everyone enjoys the delight of hearing and therefore lives a life without limitations.

For more information please visit www.sonova.com and www.hear-the-world.com.

Sonova shares (ticker symbol: SOON, Security no: 1254978, ISIN: CH0012549785) have been listed on the SIX Swiss Exchange since 1994. The securities of Sonova have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or under the applicable securities laws of any state of the United States of America, and may not be offered or sold in the United States of America except pursuant to an exemption from the registration requirements under the U.S. Securities Act and in compliance with applicable state securities laws, or outside the United States of America to non-U.S. Persons in reliance on Regulation S under the U.S. Securities Act.