Novartis shareholders approve all resolutions proposed by Board of Directors
(Thomson Reuters ONE) -
Novartis International AG /
Novartis shareholders approve all resolutions proposed by Board of Directors
. Processed and transmitted by NASDAQ OMX Corporate Solutions.
The issuer is solely responsible for the content of this announcement.
* Shareholders approve 19(th) consecutive dividend increase to CHF 2.70 (+4%)
per share for 2015
* Dr. Joerg Reinhardt confirmed by shareholders as Chairman of the Novartis
Board of Directors as well as all other members who have stood for re-
election; Ton Buechner and Elizabeth Doherty elected as new members of the
Board
* Shareholders authorize the Board of Directors to execute share buybacks
within the framework of a seventh share repurchase program that will allow
Novartis to repurchase shares for cancellation up to a maximum of CHF 10
billion
* Shareholders approve all other proposals of the Board of Directors,
including the 2015 compensation report as well as future Board and Executive
Committee compensation
Basel, February 23, 2016 - More than 97% of Novartis shareholders today followed
the Board of Directors' recommendations for all proposed resolutions at the
Group's Annual General Meeting. A total of 1,776 shareholders were present at
the meeting held in Basel, representing approximately 61.6% of the issued shares
of Novartis.
Shareholders approved the nineteenth consecutive dividend increase per share
since the creation of Novartis in 1996, with an increase of 4% to CHF 2.70 for
2015 compared to CHF 2.60 for 2014. Payment for the 2015 dividend will be made
with effect from February 29, 2016.
Votes on Compensation for the Members of the Board of Directors and the
Executive Committee
Shareholders approved in two separate binding votes the total maximum amount of
compensation for the members of the Board of Directors covering the period from
the 2016 AGM to the 2017 AGM and the total maximum amount of compensation in
respect of 2017 for the members of the Executive Committee. Furthermore,
shareholders endorsed in an advisory vote the 2015 Compensation Report.
Annual re-election and election of Members of the Board
A large majority of shareholders re-elected Dr. Joerg Reinhardt as Chairman of
the Board of Directors and each member of the Board of Directors who stood for
re-election for one year. Further, shareholders elected Ton Buechner and
Elizabeth Doherty as new members of the Board of Directors. Dr. Verena Briner
decided not to stand for re-election. The Board of Directors thanks her for her
services and commitment to Novartis as a Director and member of the Board of
Director's Risk Committee.
In addition, shareholders re-elected the following members of the Board of
Directors to the Compensation Committee for one year: Srikant Datar, Ph.D., Ann
Fudge, Enrico Vanni, Ph.D. and William T. Winters. The Committee will be chaired
by Enrico Vanni and each member will serve until the end of the next Annual
General Meeting.
Furthermore, in line with the Board of Director's recommendation, shareholders
also approved the cancelation of 49,878,180 shares repurchased on the second
trading line under the sixth share repurchase program in the financial year
2015 and to reduce the share capital accordingly by CHF 24,939,090, from CHF
1,338,496,500 to CHF 1,313,557,410.
For a detailed listing of all resolutions presented at the 2016 Annual General
Meeting, please visit:
https://www.novartis.com/sites/www.novartis.com/files/2016-novartis-agm-
notice.pdf
Disclaimer
The foregoing release contains forward-looking statements that can be identified
by terminology such as "authorize," "will," "recommendations," "advisory,"
"recommendation," or similar expressions, or by express or implied discussions
regarding the potential future impact on Novartis of the matters described in
this release, including matters involving the seventh share repurchase program
and involving compensation of the Board of Directors and the Executive
Committee. You should not place undue reliance on these statements. Such
forward-looking statements reflect the current views of management regarding
future events, and involve known and unknown risks, uncertainties and other
factors that may cause actual results to be materially different from any future
results, performance or achievements expressed or implied by such statements.
There can be no guarantee as to the ultimate outcome of the matters described in
this release. In particular, management's expectations regarding these matters
could be affected by, among other things, unexpected impacts of these matters on
Novartis, including on its management and on its financial results; the
potential impact of these matters on the competitiveness of Novartis or
competition in general; the public reaction to these matters; the impact that
the foregoing factors could have on the values attributed to the Novartis
Group's assets and liabilities as recorded in the Group's consolidated balance
sheet, and other risks and factors referred to in Novartis AG's current Form 20-
F on file with the US Securities and Exchange Commission. Should one or more of
these risks or uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those anticipated, believed,
estimated or expected. Novartis is providing the information in this press
release as of this date and does not undertake any obligation to update any
forward-looking statements contained in this press release as a result of new
information, future events or otherwise.
About Novartis
Novartis provides innovative healthcare solutions that address the evolving
needs of patients and societies. Headquartered in Basel, Switzerland, Novartis
offers a diversified portfolio to best meet these needs: innovative medicines,
eye care and cost-saving generic pharmaceuticals. Novartis is the only global
company with leading positions in these areas. In 2015, the Group achieved net
sales of USD 49.4 billion, while R&D throughout the Group amounted to
approximately USD 8.9 billion (USD 8.7 billion excluding impairment and
amortization charges). Novartis Group companies employ approximately 119,000
full-time-equivalent associates. Novartis products are available in more than
180 countries around the world. For more information, please visit
http://www.novartis.com.
Novartis is on Twitter. Sign up to follow (at)Novartis at
http://twitter.com/novartis.
Novartis Media Relations
Central media line : +41 61 324 2200
Eric Althoff Dermot Doherty
Novartis Global Media Relations Novartis Global Media Relations
+41 61 324 7999 (direct) +41 61 696 8653 (direct)
+41 79 593 4202 (mobile) +41 79 536 9755 (mobile)
eric.althoff(at)novartis.com dermot.doherty(at)novartis.com
e-mail: media.relations(at)novartis.com
Novartis Investor Relations
Central phone: +41 61 324 7944 North America:
Samir Shah +41 61 324 7944 Richard Pulik +1 212 830 2448
Pierre-Michel Bringer +41 61 324 1065 Sloan Pavsner +1 212 830 2417
Thomas Hungerbuehler +41 61 324 8425
Isabella Zinck +41 61 324 7188
e-mail: investor.relations(at)novartis.com e-mail:
investor.relations(at)novartis.com
Media release (PDF):
http://hugin.info/134323/R/1988528/730102.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Novartis International AG via GlobeNewswire
[HUG#1988528]
Unternehmensinformation / Kurzprofil:
Datum: 23.02.2016 - 13:20 Uhr
Sprache: Deutsch
News-ID 452660
Anzahl Zeichen: 9136
contact information:
Town:
Basel
Kategorie:
Business News
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