Annual General Meeting 2011

01 Dec 2014 · 09:42 CET

Geneva, 24 March 2011 | The Annual General Meeting of Givaudan SA, the world leader in flavours and fragrances, took place on 24 March 2011. It was attended by 306 shareholders or proxies, representing 3,837,805 shares (41.56% of a total of 9,233,586 registered shares).

The Annual General Meeting approved the annual report and annual accounts for 2010 and discharged the members of the Board of Directors. It also approved on a consultative basis the company's compensation policy.

Furthermore, the Annual General Meeting approved a distribution to the shareholders of CHF 21.50 per share. The total amount of this distribution will be made out of reserves for additional paid-in capital which Givaudan shows in its balance sheet as per the end of 2010. This is the tenth consecutive dividend increase in the past ten years, since Givaudan's listing at the Swiss Stock Exchange in 2000. Pursuant to the new Swiss tax legislation, this distribution will not be subject to Swiss withholding tax and it will also not be subject to income tax on the level of the individual shareholders who hold the shares as part of their private assets and are resident in Switzerland for tax purposes.

The Annual General Meeting accepted two changes to Article 13 of the Articles of Incorporation, allowing flexible terms of office between one and three years and allowing to increase the number of board members from seven to a maximum of nine.

The Annual General Meeting elected Ms Lilian Fossum Biner, a Swedish national, as a new member for a term of three years. Ms Biner is a board member of two companies listed in Sweden, Oriflame Cosmetics SA and RNB, Retail and Brands AB. In addition, it elected Prof Henner Schierenbeck for a term of one year. Prof Schierenbeck will then have served for twelve years as a board member and will no longer stand for re-election. It re-elected also Dr Nabil Sakkab for a further term of three years.

Deloitte SA was re-elected as auditors for the financial year 2011.

For further information please contact:

Peter Wullschleger, Givaudan Investor and Media Relations
Chemin de la Parfumerie 5
1214 Vernier
T +41 22 780 9093
F +41 22 780 9090