Annual General Meeting approves all proposals of the Board of Directors

Rümlang,

Shareholders have approved all proposals at the Annual General Meeting of Kaba Holding AG. Therewith, all statutory amendments necessary as a result of the adoption of the Minder Initiative have already been implemented this year by Kaba Holding AG.

For the first time, all Board members, the Chairman of the Board and members of the Compensation Committee were individually re-elected for a period of one year at the Kaba Holding AG Annual General Meeting. This new approach is part of the statutory amendments that had to be made in conjunction with the implementation of the Minder Initiative. Other relevant statutory changes were also approved by the Annual General Meeting. The discharge for the acts of the Board of Directors and Executive Committee for the last financial year was formally granted. Shareholders also broadly approved the Compensation Report in an advisory vote.

Thus, the shareholders at Kaba Holding AG’s Annual General Meeting have accepted all of the proposals by the Board of Directors. In total, 450 shareholders were present at the assembly, directly or indirectly representing 2'313'747 voting shares.

A distribution of CHF 11.00 per registered share from reserves from capital contributions, instead of a dividend, was approved. At 49.6%, the payout ratio is within the target range set by the Board of 40% to 60% of consolidated net profit.

For further information:

Beat Malacarne, CFO, Phone +41 44 818 90 61
Saskia Hengartner, Communications Manager, Phone +41 44 818 92 01