DJ EQS-Adhoc: Medacta announces pay cuts to BoD and GEM members and publishes 2020 AGM invitation
EQS Group-Ad-hoc: Medacta Group SA / Key word(s): AGMEGM
Medacta announces pay cuts to BoD and GEM members and publishes 2020 AGM
invitation
17-Apr-2020 / 19:48 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.
*Press Release *
*Medacta announces pay cuts to Board of Directors and Group Executive
Management members and publishes 2020 AGM invitation*
*- BOD and GEM decided voluntary to reduce their 2020 annual compensation to
soften the economic impact of the Coronavirus pandemic;*
*- Annual General Meeting (AGM) will take place on 19 May 2020 at the
headquarters in Castel San Pietro, Switzerland, in accordance with the
COVID-19-Ordinance 2. *
_CASTEL SAN PIETRO_, _17 April 2020_ - _Ing. Francesco Siccardi, CEO of
Medacta, says "The COVID-19 Outbreak is heavily impacting all of us and is
rapidly evolving around the world, we must respond to this Coronavirus
pandemic with every action within our control to protect our business. In
this regard, I would like to thank our members of the Board of Directors
(BoD) and Group Executive Management (GEM) to agree in reducing their 2020
compensation and further extend the measures in place to fight this crisis".
_
*2020 pay cuts to Board of Directors and Group Executive Management members*
To further respond at the pandemic and soften the financial impact in our
business, both the Board of Directors and the Group Executive Management
decided to cut their 2020 total compensation.
Our Founder and Chairman of the BoD, Dr. Alberto Siccardi and our Chief
Executive Officer Ing. Francesco Siccardi decided to reduce their 2020 total
compensation by 50%. The other members of the BoD and GEM will reduce their
total compensation by 20%.
*Medacta publishes 2020 AGM invitation*
Medacta Group SA will hold its AGM on 19 May 2020 in accordance with the
provisions as stipulated in the Ordinance of the Federal Council of
Switzerland on the policies for fighting the coronavirus (COVID-19-Ordinance
2). Accordingly, shareholders are not allowed to attend the Annual General
Meeting in person. Shareholders will only be able to vote their shares by
giving a power of attorney and related voting instructions to the
independent proxy, either by returning the proxy form or by exercising their
voting rights online as per the instructions provided in the invitation
letter.
The Board is proposing the re-election of Dr. Alberto Siccardi as Chairman
of the Board of Directors. All current board members stand for re-election,
except for Mr. Marco Gadola as previously communicated.
The Board is also proposing the election of the members of the Remuneration
Committee and the approval of the compensation for the member of the Board
of Directors and the Group Executive Management. Further motions include the
election for the financial year 2020 of the Independent Proxy Holder and
Auditors.
All details on the motions can be found in the invitation to the Annual
General Meeting 2020 at
https://www.medacta.com/EN/agm [1].
*Contact*
Medacta Group SA
Corrado Farsetta, CFO
Phone: +41 91 696 60 60
investor.relations@medacta.ch
*About Medacta:*
Medacta is an international company specializing in the design and
production of innovative orthopaedic products and the development of
accompanying surgical techniques for joint replacement, spine surgery, and
sports medicine. Established in 1999 in Switzerland, Medacta's products and
surgical techniques are characterized by innovation. Medacta is a pioneer in
developing new offerings on the basis of minimally invasive surgical
techniques, in particular its Anterior Minimally Invasive Surgery ("AMIS")
technique for hip replacements. Medacta has leveraged its orthopaedic
expertise and comprehensive understanding of the human body to develop the
sophisticated "_MySolutions_" technology, which offers surgeons highly
personalized pre-operative planning and implant placement methodologies by
creating advanced personalized kinematic models and 3D planning tools for
use in hip, knee, shoulder and spine procedures.
End of ad hoc announcement
Language: English
Company: Medacta Group SA
Strada Regina
6874 Castel San Pietro
Switzerland
Phone: +41 91 696 6060
E-mail: info@medacta.ch, investor.relations@medacta.ch
Internet: www.medacta.com
ISIN: CH0468525222
Listed: SIX Swiss Exchange
EQS News ID: 1024541
End of Announcement EQS Group News Service
1024541 17-Apr-2020 CET/CEST
1: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=acdad2a9c03bb1e0d5f646d648b76785&application_id=1024541&site_id=vwd&application_name=news
(END) Dow Jones Newswires
April 17, 2020 13:49 ET (17:49 GMT)
