DJ DGAP-HV: Dialog Semiconductor Plc: Bekanntmachung der Einberufung zur Hauptversammlung am 30.04.2020 in London mit dem Ziel der europaweiten Verbreitung gemäß §121 AktG
DGAP-News: Dialog Semiconductor Plc / Bekanntmachung der Einberufung zur
Hauptversammlung
Dialog Semiconductor Plc: Bekanntmachung der Einberufung zur
Hauptversammlung am 30.04.2020 in London mit dem Ziel der europaweiten
Verbreitung gemäß §121 AktG
2020-04-03 / 15:05
Bekanntmachung gemäß §121 AktG, übermittelt durch DGAP
- ein Service der EQS Group AG.
Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich.
Dialog Semiconductor Plc GB-London ISIN: GB0059822006
Notice of Annual General Meeting
*NOTICE IS HEREBY GIVEN* that the Annual General
Meeting (*AGM*) of Dialog Semiconductor Plc (the
*Company* or *Dialog*) will be held at Reynolds Porter
Chamberlain LLP, Tower Bridge House, St Katharine's
Way, London E1W 1AA on Thursday 30 April 2020 at 2pm
BST (3pm CEST) for the purpose of transacting the
following business:
To consider and, if thought fit, to pass the following
Resolutions of which Resolutions 1 to 10 (inclusive)
will be proposed as ordinary resolutions and
Resolutions 11 to 17 (inclusive) will be proposed as
special resolutions:
*RESOLUTION 1 - Receipt of the Company's Report and
Accounts*
THAT the Annual Report and Accounts for the financial
year ended 31 December 2019 be and are hereby received.
*RESOLUTION 2 - Approval of Directors' Remuneration
Report*
THAT the Directors' Remuneration Report, set out at
pages 92 to 93 and 100 to 106 of the Annual Report and
Accounts for the financial year ended 31 December 2019,
be and is hereby approved.
*RESOLUTION 3 - Re-appointment of Deloitte LLP as
Auditor of the Company*
THAT Deloitte LLP be and is hereby re-appointed as
Auditor of the Company.
*RESOLUTION 4 - Authority to agree the Auditor's
remuneration*
THAT the Directors be and are hereby authorised to
agree the remuneration of the Auditor.
*RESOLUTION 5 - Re-appointment of Richard Beyer as a
Director of the Company*
THAT Richard Beyer be and is hereby re-appointed as a
Director of the Company.
*RESOLUTION 6 - Re-appointment of Michael Cannon as a
Director of the Company*
THAT Michael Cannon be and is hereby re-appointed as a
Director of the Company.
*RESOLUTION 7 - Re-appointment of Mary Chan as a
Director of the Company*
THAT Mary Chan be and is hereby re-appointed as a
Director of the Company.
*RESOLUTION 8 - Appointment of Joanne Curin as a
Director of the Company*
THAT Joanne Curin be and is hereby appointed as a
Director of the Company.
*RESOLUTION 9 - Directors' authority to allot shares*
THAT the Directors be and are hereby generally and
unconditionally authorised pursuant to section 551 of
the Companies Act 2006 (the *Act*) to exercise all the
powers of the Company to allot shares in the Company
and to grant rights to subscribe for or to convert any
securities into shares in the Company up to an
aggregate nominal amount of GBP2,310,180 provided that
this authority shall (unless previously renewed, varied
or revoked) expire at the earlier of 15 months from the
date of this Resolution and the conclusion of the next
Annual General Meeting of the Company after the passing
of this Resolution save that the Company may before
such expiry make any offers or agreements which would
or might require shares in the Company to be allotted
or rights to subscribe for or to convert any securities
into shares in the Company to be granted after such
expiry and the Directors may allot shares and grant
rights to subscribe for or to convert any securities
into shares in the Company pursuant to any such offer
or agreement as if the authority conferred by this
Resolution had not expired.
*RESOLUTION 10 - Additional authority to allot shares
in connection with a rights issue*
THAT, in addition to Resolution 9, the Directors be and
are hereby generally and unconditionally authorised
pursuant to section 551 of the Act to exercise all the
powers of the Company to allot equity securities
(within the meaning of section 560 of the Act) in
connection with a rights issue in favour of ordinary
shareholders where the equity securities respectively
attributable to the interests of all ordinary
shareholders are proportionate (as nearly as may be) to
the respective numbers of ordinary shares held by them
up to an aggregate nominal amount (when added to any
allotments made under Resolution 9) of GBP4,620,360
provided that this authority shall (unless previously
renewed, varied or revoked) expire at the earlier of 15
months from the date of this Resolution and the
conclusion of the next Annual General Meeting of the
Company after the passing of this Resolution save that
the Company may before such expiry make any offers or
agreements which would or might require relevant
securities to be allotted after such expiry and the
Directors may allot relevant securities pursuant to any
such offer or agreement as if the authority conferred
by this Resolution had not expired.
*RESOLUTION 11 - Disapplication of pre-emption rights*
THAT, subject to and conditional upon Resolution 9
and/or, as the case may be, Resolution 10 being passed,
the Directors be and are hereby empowered to allot
equity securities (as defined in section 560 of the
Act) for cash under the authority conferred by
Resolutions 9 and/or 10 (as applicable) and/or to sell
ordinary shares held by the Company as treasury shares
as if section 561 of the Act did not apply to any such
allotment or sale, provided that such authority shall
be limited to:
(a) the allotment of equity securities in
connection with an offer of equity
securities (but, in the case of the
authority granted under Resolution 10, by
way of a rights issue only):
* to the holders of ordinary shares in
proportion (as nearly as may be practicable)
to their respective holdings; and
* to holders of other equity securities as
required by the rights of those securities or
as the Directors otherwise consider necessary,
but subject to such exclusions or other arrangements as
the Directors may deem necessary or expedient in
relation to treasury shares, fractional entitlements,
record dates, legal or practical problems in or under
the laws of any territory or the requirements of any
regulatory body or stock exchange; and
(b) the allotment of equity securities or sale
of treasury shares (otherwise than pursuant
to part (a) of this Resolution) to any
person up to an aggregate nominal amount of
GBP346,527.
The authority granted by this Resolution will expire at
the conclusion of the Company's next Annual General
Meeting after the passing of this Resolution or, if
earlier, 15 months from the date of this Resolution,
save that the Company may before such expiry make
offers or agreements which would or might require
equity securities to be allotted (or treasury shares to
be sold) after such expiry and the Directors may allot
equity securities (or sell treasury shares) pursuant to
any such offer or agreement as if the authority
conferred by this Resolution had not expired.
*RESOLUTION 12 - Additional disapplication of
pre-emption rights*
THAT, subject to and conditional upon Resolution 9
and/or, as the case may be, Resolution 10 being passed,
the Directors be and are hereby empowered, in addition
to any authority granted under Resolution 11, to allot
equity securities (as defined in section 560 of the
Act) for cash under the authority conferred by
Resolutions 9 and/or 10 (as applicable) and/or to sell
ordinary shares held by the Company as treasury shares
as if section 561 of the Act did not apply to any such
allotment, provided that this power shall be:
(a) limited to the allotment of equity
securities or sale of treasury shares up to
a nominal amount of GBP346,527; and
(b) used only for the purposes of financing (or
refinancing, if the authority is to be used
within six months after the original
transaction) a transaction which the
Directors determine to be an acquisition or
other capital investment of a kind
contemplated by the Statement of Principles
on Disapplying Pre-Emption Rights most
recently published by the Pre-Emption Group
prior to the date of this Notice of AGM.
The authority granted by this Resolution will expire at
the conclusion of the Company's next Annual General
Meeting after the passing of this Resolution or, if
earlier, 15 months from the date of this Resolution,
save that the Company may before such expiry make
offers or agreements which would or might require
equity securities to be allotted (or treasury shares to
be sold) after such expiry and the Directors may allot
equity securities (or sell treasury shares) pursuant to
any such offer or agreement as if the authority
conferred by this Resolution had not expired.
*RESOLUTION 13 - Authority to enter into contingent
forward share purchase contract with Barclays Bank PLC*
THAT, in accordance with section 694 of the Act and
conditional on the passing of at least one of
Resolutions 14, 15 and 16, the terms of a proposed
contingent forward share purchase contract to be
entered into between the Company and Barclays Bank PLC
(*Barclays*) for the purchase by the Company of up to
10,395,809 ordinary shares of 10 pence each in the
capital of the Company (in the form produced to the AGM
and initialled by the Chairman for the purpose of
identification) (the *Barclays Agreement*) be and are
hereby approved and the Company be and is hereby
authorised to enter into the Barclays Agreement.
The maximum aggregate number of shares which may be
purchased under the Barclays Agreement and such other
contingent forward share purchase contracts which may
be approved pursuant to Resolutions 14 and/or 15 and/or
16 is 10,395,809, representing approximately 15% of the
issued ordinary share capital of the Company as at 25
March 2020 (being the last practicable date prior to
publication of this Notice of AGM).
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The authority conferred by this Resolution to enter
into the Barclays Agreement shall (unless previously
renewed, varied or revoked) expire on the day which is
immediately prior to the next Annual General Meeting of
the Company or on 30 June 2021, whichever is the
earlier.
*RESOLUTION 14 - Authority to enter into contingent
forward share purchase contract with Goldman Sachs
International*
THAT, in accordance with section 694 of the Act and
conditional on the passing of at least one of
Resolutions 13, 15 and 16, the terms of a proposed
contingent forward share purchase contract to be
entered into between the Company and Goldman Sachs
International (*Goldman Sachs*) for the purchase by the
Company of up to 10,395,809 ordinary shares of 10 pence
each in the capital of the Company (in the form
produced to the AGM and initialled by the Chairman for
the purpose of identification) (the *Goldman Sachs
Agreement*) be and are hereby approved and the Company
be and is hereby authorised to enter into the Goldman
Sachs Agreement.
The maximum aggregate number of shares which may be
purchased under the Goldman Sachs Agreement and such
other contingent forward share purchase contracts which
may be approved pursuant to Resolutions 13 and/or 15
and/or 16 is 10,395,809, representing approximately 15%
of the issued ordinary share capital of the Company as
at 25 March 2020 (being the last practicable date prior
to publication of this Notice of AGM).
The authority conferred by this Resolution to enter
into the Goldman Sachs Agreement shall (unless
previously renewed, varied or revoked) expire on the
day which is immediately prior to the next Annual
General Meeting of the Company or on 30 June 2021,
whichever is the earlier.
*RESOLUTION 15 - Authority to enter into contingent
forward share purchase contract with HSBC Bank plc*
THAT, in accordance with section 694 of the Act and
conditional on the passing of at least one of
Resolutions 13, 14 and 16, the terms of a proposed
contingent forward share purchase contract to be
entered into between the Company and HSBC Bank plc
(*HSBC*) for the purchase by the Company of up to
10,395,809 ordinary shares of 10 pence each in the
capital of the Company (in the form produced to the AGM
and initialled by the Chairman for the purpose of
identification) (the *HSBC Agreement*) be and are
hereby approved and the Company be and is hereby
authorised to enter into the HSBC Agreement.
The maximum aggregate number of shares which may be
purchased under the HSBC Agreement and such other
contingent forward share purchase contracts which may
be approved pursuant to Resolutions 13 and/or 14 and/or
16 is 10,395,809, representing approximately 15% of the
issued ordinary share capital of the Company as at 25
March 2020 (being the last practicable date prior to
publication of this Notice of AGM).
The authority conferred by this Resolution to enter
into the HSBC Agreement shall (unless previously
renewed, varied or revoked) expire on the day which is
immediately prior to the next Annual General Meeting of
the Company or on 30 June 2021, whichever is the
earlier.
*RESOLUTION 16 - Authority to enter into contingent
forward share purchase contract with Merrill Lynch
International*
THAT, in accordance with section 694 of the Act and
conditional on the passing of at least one of
Resolutions 13, 14 and 15, the terms of a proposed
contingent forward share purchase contract to be
entered into between the Company and Merrill Lynch
International (Merrill Lynch) for the purchase by the
Company of up to 10,395,809 ordinary shares of 10 pence
each in the capital of the Company (in the form
produced to the AGM and initialled by the Chairman for
the purpose of identification) (the *Merrill Lynch
Agreement*) be and are hereby approved and the Company
be and is hereby authorised to enter into the Merrill
Lynch Agreement.
The maximum aggregate number of shares which may be
purchased under the Merrill Lynch Agreement and such
other contingent forward share purchase contracts which
may be approved pursuant to Resolutions 13 and/or 14
and/or 15 is 10,395,809, representing approximately 15%
of the issued ordinary share capital of the Company as
at 25 March 2020 (being the last practicable date prior
to publication of this Notice of AGM). The authority
conferred by this Resolution to enter into the Merrill
Lynch Agreement shall (unless previously renewed,
varied or revoked) expire on the day which is
immediately prior to the next Annual General Meeting of
the Company or on 30 June 2021, whichever is the
earlier.
*RESOLUTION 17 - Notice period for general meetings*
That a general meeting of the Company other than an
annual general meeting may be called on not less than
14 clear days' notice.
By order of the Board
Tim Anderson
Company Secretary Dialog Semiconductor Plc
Tower Bridge House St Katharine's Way London E1W 1AA
3 April 2020
Registered in England and Wales No. 3505161
*Notes to Notice of AGM*
*1. Documents provided*
This notice of the AGM (*Notice of AGM*) is being sent
to all members and all CI Holders as defined in the
Articles (the CI Holders together with the members, the
*Shareholders*).
A separate letter from the CEO of the Company (the
*Letter to Shareholders*) incorporating further details
of how Shareholders may attend and vote at the AGM and
important notes for AGM registration, proxy appointment
and voting instructions (*Important Notes*) is
available on the Company's website:
https://www.dialog-semiconductor.com
- Company - Investor Relations - Annual General Meeting
and is included with the Notice of AGM sent to
Shareholders.
*2. Entitlement to attend and vote*
The Company, pursuant to the Articles, specifies that
only those Shareholders entered in the register of
members of the Company or the CI Register (as defined
in the Articles) (together the *Registers of Members*)
at 2pm BST (3pm CEST) on 28 April 2020, or if this
meeting is adjourned, in the appropriate Registers of
Members 48 hours before the time of any adjourned
meeting, shall be entitled to attend and vote at the
AGM in respect of the number of shares (or in the case
of CI Holders, interests in shares) registered in their
name at that time. Changes to the entries in the
Registers of Members after 2pm BST (3pm CEST) on 28
April 2020, or if this meeting is adjourned, in the
Registers of Members less than 48 hours before the time
of any adjourned meeting, shall be disregarded in
determining the rights of any person to attend or vote
at the meeting.
*3. Personal attendance*
Shareholders wishing to attend the AGM in person should
request an Admission Card by following the procedure
described at section 1 ('Request for an Admission
Card') in the reply form attached to the Letter to
Shareholders (the *Reply Form*).
*4. Proxies*
Shareholders who are unable to attend the AGM may
appoint one or more proxies (who need not be a
Shareholder) to exercise all or any of their rights to
attend, speak and vote at the AGM, provided that each
proxy is appointed to exercise the rights attached to a
different share/CI or shares/ CIs held by their
appointer. A Shareholder may only appoint a proxy or
proxies by following the procedure described at section
2 ('Appointment of Proxy and Voting Instructions') in
the Reply Form. A proxy appointment must be received no
later than 2pm BST (3pm CEST) on 28 April 2020. Further
details in relation to the appointment of proxies are
given in the Reply Form and Important Notes.
*5. Questions at the AGM*
Under section 319A of the Act, any member attending the
AGM has the right to ask questions. The Company must
answer any such question relating to the business being
dealt with at the meeting unless:
* answering the question would interfere unduly
with the preparation for the AGM or involve
the disclosure of confidential information;
* the answer has already been given on a website
in the form of an answer to a question; or
* it is undesirable in the interests of the
Company or the good order of the AGM that the
question be answered.
*6. Number of issued shares and total voting rights*
As at 25 March 2020 (being the last practicable date
prior to publication of this Notice of AGM) the
Company's issued share capital (excluding treasury
shares) comprised 69,305,392 ordinary shares of 10
pence each carrying one vote each and having an
aggregate nominal value of GBP6,930,539. Therefore the
total voting rights in the Company as at 25 March 2020
are 69,305,392.
*7. Nominated persons*
Any person to whom this Notice of AGM is sent who is a
person nominated under section 146 of the Act to enjoy
information rights (a *Nominated Person*) may have a
right, under an agreement between them and the
Shareholder by whom they were nominated, to be
appointed (or to have someone else appointed) as a
proxy for the AGM. If a Nominated Person has no such
proxy appointment right or does not wish to exercise
it, they may, under any such agreement, have a right to
give instructions to the Shareholder as to the exercise
of voting rights.
The statement of the rights of Shareholders in relation
to the appointment of proxies in note 4 to this Notice
of AGM does not apply to Nominated Persons. The rights
described in that note can only be exercised by
Shareholders.
*8. Corporate representatives*
A corporation which is a member can appoint one or more
corporate representatives who may exercise on its
behalf all its powers as a member provided that no more
than one corporate representative exercises power over
the same share/CI. Any corporate Shareholder who wishes
(or who may wish) to appoint more than one corporate
representative should contact Martina Zawadzki by email
at dialog_agm@art-of-conference.de or by telephone on
+49 (0) 711 5087 7107.
*9. Website giving information regarding the AGM*
A copy of this Notice of AGM, and the other information
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required by section 311A of the Act, can be found at https://www.dialog-semiconductor.com - Company - Investor Relations - Annual General Meeting. *10. Website publication of audit concerns* Pursuant to Chapter 5 of Part 16 of the Act (sections 527 to 531), where requested by a member or members meeting the qualification criteria set out at note 11 to this Notice of AGM, the Company must publish on its website a statement setting out any matter that such members propose to raise at the meeting relating to the audit of the Company's accounts (including the Auditor's Report and the conduct of the audit) that are to be laid before the meeting. Where the Company is required to publish such a statement on its website: * it may not require the members making the request to pay any expenses incurred by the Company in complying with the request; * it must forward the statement to the Company's auditor no later than the time the statement is made available on the Company's website; and * the statement may be dealt with as part of the business of the meeting. The request: * may be in hard copy form or by fax (see note 12 to this Notice of AGM); * must either set out the statement in full or, if supporting a statement sent by another member, clearly identify the statement which is being supported; * must be authenticated by the person(s) making it; and * must be received by the Company at least one week before the AGM. *11. Qualification criteria* In order to be able to exercise the members' right to require the Company to publish audit concerns (see note 10 to this Notice of AGM) the relevant request must be made by: * a member or members having a right to vote at the AGM and holding at least 5% of total voting rights of the Company; or * at least 100 members having a right to vote at the AGM and holding, on average, at least GBP100 of paid up share capital in the Company. The Company wishes to extend these rights to the CI Holders, and all references in notes 10 to 12 to this Notice of AGM to a member or members should therefore be construed accordingly. For information on voting rights, including the total number of voting rights, see note 6 to this Notice of AGM and the website referred to in note 9 to this Notice of AGM. *12. Submission of requests and authentication requirements* Where one or more members wish to request the Company to publish audit concerns (see note 10 to this Notice of AGM) such request must be made in accordance with one of the following ways: * a hard copy request which is signed by the relevant member(s), states their full name(s) and address(es) and is sent to Dialog Semiconductor Plc c/o Art-of-Conference Martina Zawadzki, Böblinger Str. 26, 70178 Stuttgart, Germany; or * a request which is signed by the relevant member(s), states their full name(s) and address(es) and is sent to fax number +49 (0) 711 4709-713 marked for the attention of Martina Zawadzki. *13. Documents available for inspection* Copies of the Executive Director's service contract, Non-executive Directors' letters of appointment and each of the contingent forward share purchase contracts referred to in Resolutions 13, 14, 15 and 16 will be available for inspection during normal business hours at the Company's registered office from the date of this Notice of AGM (or in the case of the contingent forward share purchase contracts referred to in Resolutions 13, 14, 15 and 16 from no later than 15 April 2020) until the AGM's conclusion and will also be available for inspection at the AGM venue immediately prior to and during the AGM itself. *14. Communication* Except as provided above, Shareholders who have general queries about the AGM should contact Martina Zawadzki by email at dialog_agm@art-of-conference.de. No other methods of communication will be accepted. You may not use any electronic address provided either: * in this Notice of AGM; or * in any related documents (including the Letter to Shareholders), to communicate with the Company for any purposes other than those expressly stated. *Explanatory Notes for Resolutions to be proposed at AGM* *Resolutions* Resolutions 1 to 10 (inclusive) are proposed as ordinary resolutions. To pass these Resolutions more than 50% of the votes cast on each Resolution must be in favour. Resolutions 11 to 17 are proposed as special resolutions. To pass a special resolution not less than 75% of the votes cast on the Resolution must be in favour. *Resolution 1 - Receipt of Report and Accounts* The Directors must present the Company's Annual Report and Accounts for the financial year ended 31 December 2019 to the AGM. The Annual Report and Accounts for the financial year ended 31 December 2019 are also available on the Company's website: https://www.dialog-semiconductor.com - Company - Investor Relations - Annual Reports. Please note that the Directors do not propose to declare a dividend. *Resolution 2 - Approval of Directors' Remuneration Report* In accordance with section 439 of the Act, Shareholders are required to approve a resolution on the Directors' Remuneration Report. The vote on Resolution 2 is advisory. The Directors' Remuneration Report is set out at pages 92 to 93 and 100 to 106 of the Annual Report and Accounts for the financial year ended 31 December 2019 which is available on the Company's website: https://www.dialog-semiconductor.com - Company - Investor Relations - Annual Reports. *Resolutions 3 and 4 - Re-appointment and remuneration of Auditor* Deloitte LLP is required by section 489(1) of the Act to retire at the AGM and seek re-appointment. The Act also requires Shareholders to determine the manner in which the Auditor is remunerated. Resolution 4 gives authority to the Directors to determine the Auditor's remuneration. *Resolutions 5, 6 and 7 - Re-appointment of Directors* Pursuant to the Articles one third of the Directors shall retire at each AGM and, in line with best practice, those Non-executive Directors who have been members of the Board for in excess of nine years are subject to annual re-election. Accordingly, each of Richard Beyer, Michael Cannon and Mary Chan are retiring at the AGM and are each offering themselves for re-appointment in accordance with the Articles. Biographical details for each of them are set out below, and a separate Resolution is proposed for each reappointment. The Board has confirmed that Richard Beyer, Michael Cannon and Mary Chan, who are each seeking re-appointment as an Independent Non-executive Director, continue to perform effectively and demonstrate commitment to their roles. Therefore the Board considers that each of Richard Beyer, Michael Cannon and Mary Chan should be re-appointed as their wider, current and relevant business experience allows them to contribute effectively to the leadership of the Company. *Richard Beyer* Chair and Independent Non-executive Director Rich joined the Board in February 2013 as an Independent Non-executive Director and was appointed Chairman in July 2013. Rich has a long-standing career in the technology sector. He was the Chairman and CEO of Freescale Semiconductor from 2008 to 2012. Prior to this, he held successive positions as CEO and Director of Intersil Corporation, Elantec Semiconductor and FVC.com. He has also held senior leadership positions at VLSI Technology and National Semiconductor Corporation. In 2012, he was Chairman of the Semiconductor Industry Association Board of Directors and served for three years as a member of the US Department of Commerce's Manufacturing Council. He previously served on the Boards of Analog Devices, Microsemi Corporation (now Microchip Technology), Credence Systems Corporation (now LTX-Credence), XCeive Corporation and Signet Solar. Rich served three years as an officer in the United States Marine Corps. He earned Bachelor's and Master's degrees in Russian from Georgetown University, and an MBA in marketing and international business from Columbia University Graduate School of Business. _External appointments:_ Rich currently serves on the Board of Micron Technology Inc. *Michael Cannon* Independent Non-executive Director, Chair of the Remuneration Committee and member of the Nomination Committee. Mike joined the Board in February 2013. His career in the high-tech industry spans 30 years. He was President, Global Operations of Dell from February 2007 until his retirement in 2009. Prior to joining Dell, Mike was the CEO of Solectron Corporation, an electronic manufacturing services company, which he joined as CEO in 2003. From 1996 until 2003 Mike was CEO of Maxtor Corporation, a disk drive and storage systems company, and successfully led the NASDAQ IPO of Maxtor in 1998. Mike previously held senior management positions at IBM and Control Data Corporation and was on the board of directors of the US-China Business Council. Mike studied Mechanical Engineering at Michigan State University and completed the Advanced Management Program at Harvard Business School. _External appointments:_ Mike currently serves on the boards of Seagate Technology as the Lead Independent Director and chairman of the Nominating and Governance committee, and on the Lam Research Corporation board on the Audit committee and the Nominating and Corporate Governance committee. *Mary Chan* Independent Non-executive Director, member of the Nomination Committee and member of the Remuneration Committee. Mary joined the Board in December 2016. Her career has spanned executive leadership roles at some of the world's most successful international firms, including AT&T, Alcatel-Lucent, Dell Inc. and General Motors Corporation (*GM*). At Dell, between 2009 and 2012, Mary led the company's Enterprise Mobility Solutions and Services business in the USA. Prior to this, at
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Alcatel-Lucent, Mary served as Executive Vice President of the company's 4G LTE Wireless Networks business. Most recently at GM, Mary served between 2012 and 2015 as President, Global Connected Consumers & OnStar Service. She holds both Bachelor and Master of Science degrees in Electrical Engineering from Columbia University. _External appointments:_ Mary is a managing partner at VectoIQ, LLC., and currently serves as an Independent Director on the Boards of Magna International, Microelectronics Technology Inc. and SBA Communications Corporation. *Resolution 8 - Appointment of Director* In addition to the Directors required to retire by rotation at the AGM and those Directors subject to annual reappointment, the Articles require that any additional director appointed by the Board shall hold office only until the next following AGM, at which they shall retire and seek appointment from Shareholders. Joanne Curin, having been appointed by the Board as a Director on 1 August 2019, is offering herself for appointment in accordance with the Articles. Jo's biographical details are set out below. *Joanne Curin* Independent Non-executive Director, member of the Audit Committee. Joanne joined the Board in August 2019. Joanne comes to Dialog with over 20 years of experience as a CFO and non-executive director, with a deep background in finance and an international career spanning global large-scale public companies listed in the UK and Australia. In her previous roles as CFO across a wide array of markets and sectors, Joanne has been highly effective at initiating and leading strategic, operational and process changes that have delivered considerable shareholder value, and has successfully led a number of complex multi-billion dollar M&A transactions. Joanne has a bachelor's degree in commerce from the University of Auckland and is a member of the Institute of Chartered Accountants in New Zealand. _External appointments:_ Joanne is a founding member of Stirling Industries Plc. *Resolution 9 - Directors' authority to allot shares* The purpose of Resolution 9 is to renew the Directors' authority to issue shares until the conclusion of the next Annual General Meeting up to an aggregate nominal value of GBP2,310,180 equating to 23,101,797 shares. The nominal amount of relevant securities to which this authority will relate represents approximately one third of the issued share capital of the Company of 69,305,392 shares as at 25 March 2020 (being the last practicable date prior to publication of this Notice of AGM). As at 25 March 2020, the Company held 7,076,747 ordinary shares in treasury. *Resolution 10 - Additional authority to allot shares in connection with a rights issue* UK investor guidelines (the Investment Association Share Capital Management Guidelines) make it acceptable to give authority to the Directors to issue up to a further third of the issued share capital (over and above the authority granted under Resolution 9) provided it is only applied on the basis of a rights issue. If any of the additional authority in Resolution 10 is used, all the Directors of the Company wishing to remain in the office shall stand for re-election at the next Annual General Meeting of the Company. *Resolutions 11 and 12 - Disapplication of pre-emption rights* If the Directors wish to issue shares or sell treasury shares for cash they have to abide by the statutory pre-emption rights in the Act. This means that, subject to limited exceptions (including shares allotted under the Company's share and incentive schemes, which are themselves subject to limits), the Directors have to offer any shares they want to issue or treasury shares they want to sell for cash to existing Shareholders first. Resolution 11 seeks to give the Directors authority to disapply the statutory pre-emption rights where (i) the share issue relates to a pre-emptive issue (in which case all holders of ordinary shares would be made an offer to participate anyway); or (ii) where the allotment or transfer or sale of treasury shares for cash is limited to equity securities having a maximum aggregate nominal value of GBP346,527 equating to 3,465,270 shares which is equivalent to approximately 5% of the Company's issued share capital of 69,305,392 shares (excluding treasury shares), as at 25 March 2020 (being the last practicable date prior to publication of this Notice of AGM). Resolution 12 will empower the Directors, in addition to the authority set out in Resolution 11, to allot ordinary shares in the capital of the Company for cash or sell treasury shares for cash (other than pursuant to an employee equity incentive share scheme) on a non pre-emptive basis provided that the power shall be (i) limited to allotments or sales of up to a maximum nominal value of GBP346,527 (equivalent to approximately 5% of the Company's issued share capital (excluding treasury shares) as at 25 March); and (ii) used only for the purposes of financing (or refinancing, if the authority is to be used within six months after the original transaction) a transaction which the Directors determine to be an acquisition or other capital investment of a kind contemplated by the Statement of Principles on disapplying pre-emption rights most recently published by the Pre-Emption Group prior to the date of this Notice of AGM. Resolutions 11 and 12 are in line with the template resolutions published by the Pre-Emption Group in May 2016. The Directors do not have any present intention of exercising the authority granted by Resolutions 11 and 12 and do not intend to issue more than 7.5% of the issued share capital of the Company (excluding treasury shares) on a (non-exempt) non pre-emptive basis, save as permitted in connection with an acquisition or specified capital investment as described above, in any rolling three-year period without prior consultation with Shareholders. *Resolutions 13, 14, 15 and 16 - Contingent forward share purchase contracts or off-market purchases of own shares* If passed, Resolutions 13, 14, 15 and 16 (each a *Buyback Resolution* and together the *Buyback Resolutions*), give authority for the Company to enter into a contingent forward share purchase contract (each a *Contingent Forward Share Purchase Contract* and together the *Contingent Forward Share Purchase Contracts*) with each of Barclays, Goldman Sachs, HSBC and Merrill Lynch (each a *Broker* and together the *Brokers*) to purchase from one or more of such Brokers, in aggregate, up to 10,395,809 of its ordinary shares, representing approximately 15% of the Company's issued ordinary share capital as at 25 March 2020 (being the last practicable date prior to publication of this Notice of AGM). The purpose of the Contingent Forward Share Purchase Contracts is to permit the Company to make off-market purchases of the Company's ordinary shares as a method of returning surplus cash to Shareholders. Any such purchases will be made out of the Company's distributable profits. The Directors will only exercise the Company's rights under the Contingent Forward Share Purchase Contracts if they believe at that time that purchases pursuant to such contracts would be in the best interests of the Shareholders generally and could result in an increase in earnings per ordinary share. The price per share to be paid by the Company to any Broker would be equal to or less than the Average VWAP (as defined below) for the relevant trading period. The Company may not make market purchases of its shares authorised in accordance with section 701 of the Act because the Frankfurt Stock Exchange (*FSE*) is not a recognised investment exchange for the purpose of section 693 of the Act. Therefore, if the Company wishes to make a purchase of its shares it must do so in accordance with the provisions for 'off-market' purchases of shares set out in the Act. Under sections 693 and 694 of the Act, the Company is not permitted to make off-market purchases of its shares unless it obtains advance Shareholder approval of the terms of the contract pursuant to which it is to purchase its own shares. Such contract may be (as is proposed here) a contingent purchase contract under which, subject to conditions, the Company may become entitled or obliged to purchase shares. The Buyback Resolutions, which are proposed as special resolutions, therefore seek the approval of the terms of the Contingent Forward Share Purchase Contracts to be entered into with Barclays, Goldman Sachs, HSBC and Merrill Lynch. Interests in the Company's shares (CIs) (rather than shares) are traded and settled on the FSE. Although the Cls are generally referred to as shares, in this Explanatory Note the distinction is made between the shares in the capital of the Company and Cls where relevant. If the Company wishes to exercise its rights to purchase shares pursuant to any of the Contingent Forward Share Purchase Contracts (a *Share Purchase Transaction*), the Company must give notice in writing (a *Transaction Notice*) to each of the Brokers, specifying the terms on which the Company is willing to purchase shares for that Share Purchase Transaction, including the minimum and maximum total cost of the shares to be purchased from the Broker by the Company, the earliest and latest dates on which the Broker can as principal purchase Cls on the FSE and whether the price per share to be paid by the Company to the Broker will be either: 1. equal to the average of the daily volume weighted average price paid for Cls on the FSE for each day during the agreed trading period (as converted into USD$) (*Average VWAP*), less a percentage discount (the *Percentage Discount*); or 2. equal to the Average VWAP less a percentage (the *Profit Share Percentage*) of the difference between (i) the price that will be paid by the Broker to acquire the Cls, and (ii) Average VWAP.
(MORE TO FOLLOW) Dow Jones Newswires
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In the Transaction Notice, the specified maximum total
cost of the shares to be purchased from the Broker by
the Company in any one Share Purchase Transaction will
be no more than USD $250 million, or EUR EUR 225
million.
Upon receipt of the Transaction Notice from the
Company, each Broker will provide the Company with the
following information in writing in relation to the
price (the Price Notice):
* in relation to 1 above, the Percentage
Discount the Broker is willing to give; or
* in relation to 2 above, the Profit Share
Percentage the Broker is willing to give,
following which the Company will inform the Brokers
which Broker has provided a Price Notice on the most
favourable pricing terms to the Company (the *Preferred
Broker*).
If two or more Brokers provide a Price Notice on the
same terms (each a *Tied Broker*), such that there is
no one Broker who has provided a Price Notice on the
most favourable pricing terms to the Company, each Tied
Broker will submit a revised Price Notice (each a
*Revised Price Notice*) to the Company. The Tied Broker
who submits a Revised Price Notice on the most
favourable pricing terms to the Company shall be the
Preferred Broker.
In the event that two or more Tied Brokers provide a
Revised Price Notice on the same terms, such that there
is no one Tied Broker who has provided a Revised Price
Notice on the most favourable pricing terms to the
Company, the Tied Broker who is first in time to submit
a Revised Price Notice shall be the Preferred Broker.
The Company and the Preferred Broker will (subject to
no termination event occurring under the terms of the
Contingent Forward Share Purchase Contract) then
proceed with the relevant Share Purchase Transaction as
set out below.
Notwithstanding the foregoing, a Broker will not be
obliged to provide a Price Notice (or a Revised Price
Notice) if it would be unable to perform its
obligations in respect of a Share Purchase Transaction
without being in breach of applicable law, rule or
regulation.
Following the purchase of the relevant number of Cls as
principal by the Preferred Broker on the FSE and the
transfer of the legal title to the corresponding number
of shares to the Preferred Broker from Clearstream
Banking AG (the operator of the electronic clearing and
settlement system for securities on the FSE which holds
legal title to the shares in the capital of the Company
listed on the FSE to which holders of Cls are
beneficially entitled), the Preferred Broker will sell
the shares to the Company for a price per share which
is equal to or less than Average VWAP (as set out in
more detail above) for the relevant trading period (and
as part of such settlement process, the underlying Cls
will be extinguished).
Each Contingent Forward Share Purchase Contract
incorporates the provisions of a 2002 Master Agreement
in the form published by the International Swaps and
Derivatives Association, Inc. (as amended by the
relevant Contingent Forward Share Purchase Contract and
including certain termination events which may apply to
a Share Purchase Transaction). In accordance with their
terms, each of the Contingent Forward Share Purchase
Contracts shall expire on the day which is immediately
prior to the next Annual General Meeting of the Company
or on 30 June 2021 whichever is the earlier, but
without affecting any Share Purchase Transaction which
has only been partly completed on such date.
The Company will announce the details of each Share
Purchase Transaction in accordance with its ongoing
regulatory obligations.
The Company may either cancel any shares it purchases
pursuant to the Contingent Forward Share Purchase
Contracts or may transfer them into treasury (and may
subsequently sell them or transfer them out of treasury
in order to satisfy the Company's share incentive
schemes or cancel them).
Although the Company intends to enter into the
Contingent Forward Share Purchase Contracts on or about
the date of the AGM on 30 April 2020 (assuming the
Buyback Resolutions are passed and the relevant Broker
has received any outstanding internal approvals
required), the authority granted by a Buyback
Resolution to enter into a Contingent Forward Share
Purchase Contract will expire on the day which is
immediately prior to the next Annual General Meeting of
the Company or on 30 June 2021 (whichever is the
earlier). The Company will continue to be able to
purchase shares under any Contingent Forward Share
Purchase Contract entered into before the day which is
immediately prior to the next Annual General Meeting
and 30 June 2021 (whichever is the earlier) and under
which a Share Purchase Transaction has only been partly
completed on such date.
A copy of each of the proposed Contingent Forward Share
Purchase Contracts will be available at the AGM on 30
April 2020. Copies will also be available for
inspection at the Company's registered office at Tower
Bridge House, St Katharine's Way, London E1W 1AA during
usual business hours from no later than 15 April 2020
until the date of the AGM and at the AGM itself.
From the date of the 2016 Annual General Meeting of the
Company to 25 March 2020 (being the last practicable
date prior to publication of this Notice of AGM), the
Company has, pursuant to the shareholder authorities
granted at the 2016, 2017, 2018 and 2019 Annual General
Meetings of the Company, purchased 11,560,563 of its
ordinary shares, 4,483,816 of which have been
cancelled.
*Resolution 17 - Notice period for general meetings*
The Articles allow the Directors to call general
meetings other than Annual General Meetings on 14 clear
days' notice. However, the Companies (Shareholders'
Rights) Regulations 2009 (the *Regulations*) require
that all general meetings be held on 21 days' notice,
unless Shareholders agree to a shorter notice period,
and the Company has met the requirements for electronic
voting under the Regulations. Resolution 17 seeks to
renew the authority granted by Shareholders at last
year's Annual General Meeting which preserved the
Company's ability to call general meetings, other than
Annual General Meetings, on 14 clear days' notice, such
authority to be effective until the Company's next
Annual General Meeting, when a similar resolution will
be proposed. The Directors confirm that the shorter
notice period would not be used as a matter of course
for such meeting, but only where flexibility is merited
by the business of the meeting and it is thought to be
to the advantage of Shareholders as a whole. An
electronic voting facility will be made available to
all Shareholders for any meeting held on such notice.
Dialog Semiconductor Plc
Tower Bridge House
St Katharine's Way
London
E1W 1AA
United Kingdom
www.dialog-semiconductor.com
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Sprache: Deutsch
Unternehmen: Dialog Semiconductor Plc
Tower Bridge House / St. Katharine's Way
00000 London E1W 1AA
Großbritannien
E-Mail: Jose.Cano@diasemi.com
Internet: https://www.dialog-semiconductor.com/
ISIN: GB0059822006
Ende der Mitteilung DGAP News-Service
1015081 2020-04-03
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April 03, 2020 09:05 ET (13:05 GMT)
