Komax Holding AG: The Komax Board of Directors rejects the proposal by Veraison SICAV to add two new members to the Board

Komax Holding AG / Komax Holding AG: The Komax Board of Directors rejects the proposal by Veraison SICAV to add two new members to the Board . Processed and transmitted by Nasdaq OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.

The Board of Directors has reviewed Veraison's proposal of 25 February 2016 for the Annual General Meeting of 12 May 2016, namely to enlarge the Board of Directors and elect two additional candidates. It has concluded that the current composition of the Board optimally meets the needs of the company. It recommends therefore that this proposal be rejected.

Komax is acknowledged to be the leader in its markets, and achieves outstanding results in its core business. The five members of the Board of Directors proposed for re-election have the expertise and experience necessary to successfully lead the company at a strategic level. Above all, the Board of Directors also has the financial expertise referred to by Veraison - David Dean is an expert in accounting and controlling, holding the corresponding federal diploma, as well as being a certified auditor. Furthermore, he has many years of experience as CFO of a listed company.

Numbering five members, Komax's Board of Directors is also of a size that is conducive to the efficient processing of business. With the structure of the company having been greatly simplified by the sale of the Solar business and the divestment of Komax Medtech, there is no short-term need for a significantly larger Board of Directors. However, both the size and composition of the Board will continue to be carefully reviewed over the next few years, just as they have been in the past.

At present, the Board of Directors feels an equal obligation to all shareholders - none of its members has any close relationship with a particular shareholder. Thanks to this independence and the focus on industrial, technological, and financial expertise, the Board of Directors has accumulated a strong performance track record that has resulted in significant value gains for shareholders in recent years. The Board of Directors is convinced that its current composition and size of five members optimally meet the needs of the company, and is therefore recommending that Veraison's proposal be rejected.

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The Komax Group is a global technology company that focuses on markets in the automation sector. As a leading manufacturer of innovative and high-quality solutions for the wire processing industry and systems for the assembly of self-medication instruments, Komax helps its customers implement economical and safe manufacturing processes, especially in the automotive supply and pharmaceutical sectors. The Komax Group employs around 1 600 people worldwide and provides sales and service support via subsidiaries and independent agents in around 60 countries.

The media release can be downloaded from the following link:

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Komax Holding AG
Industriestrasse 6 Dierikon Switzerland

WKN: 1070215 ;ISIN: CH0010702154;