In This Article:
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All proposals of Board of Directors approved
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Gilbert Ghostine re-elected as Chairman of Board of Directors; all other Board members standing for re-election confirmed
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Dividend of CHF 0.60 per registered dividend-paying share approved, representing 24% of core net income
Basel, April 15, 2025 – Sandoz (SIX:SDZ;OTCQX:SDZNY) today announced that its shareholders approved all proposals of the Board of Directors at its Annual General Meeting, including the Annual Financial Statements and Consolidated Financial Statements as well as the report on non-financial matters for the 2024 financial year. The 1,072 shareholders in attendance, together with the votes represented by the independent proxy, represented 75.73% of shares registered with voting rights.
Gilbert Ghostine, who was confirmed as Chairman of the Board of Directors, addressed the shareholders in a speech today: “I want to sincerely thank you for your trust, partnership, and belief in our vision. As an independent company, we have already made good progress, and we are proud of how far we have come. But this is just the beginning. The opportunities ahead are even greater as we are committed to continue to strengthen our leadership and create long-term value. We will continue pioneering access, driving impact, and leading the future of healthcare. None of this would be possible without the tireless efforts and dedication of our outstanding teams all over the world.”
Shareholders approved the proposed appropriation of available earnings and the dividend of 0.60 Swiss francs per registered dividend-paying share, representing 24% of core net income. The dividend will be paid, subject to deduction of Swiss withholding tax, as of April 23, 2025. The last trading day with entitlement to receive the dividend is April 16, 2025.
The AGM endorsed the change of the registered seat of Sandoz Group AG from Risch to Basel. Sandoz shareholders also approved other amendments to the Articles of Incorporation: the renewal and expansion of the capital band of up to 10% of the share capital as well as the introduction of a new authorization to create conditional share capital. Both measures support the optimization of Sandoz capital structure.
In two separate votes, shareholders approved the maximum aggregate amount of compensation for the Board of Directors for the period until the next Annual General Meeting, and the maximum aggregate amount of compensation for the members of Executive Committee for the 2026 financial year. Shareholders also endorsed the 2024 Compensation Report in an advisory vote.