NEWS RELEASE
Zug, June 14, 2011
Shareholders of Private Equity Holding approve all proposals by the Board of Directors by a large majority
At the Annual General Meeting of Private Equity Holding AG held on June 14, 2010 in Zug, the shareholders approved all the proposals of the Board of Directors by a large majority. Bernhard Schürmann was elected to the Board of Directors as a new member. All proposals by the shareholder group Mantra/Wyser-Pratte were rejected. The Board of Directors understands this as confirmation of its long-term oriented strategy.
Dr. Hans Baumgartner, Dr. Hans Christoph Tanner and Martin Eberhard were re-elected to the Board of Directors. Bernhard Schürmann, an independent asset manager and Senior Partner at a well-known asset management boutique in Zurich, was elected to the Board of Directors. KPMG AG, Zurich, were re-elected as statutory auditors.
PEH will continue its distribution policy with a payment of CHF 2 per share. The shareholders approved a payment out of share capital, which is tax-exempt for individuals in Switzerland. Shareholders also approved the tax-exempt cancellation of 209'500 shares (which represents approximately 5% of the capital).
The proposals by the shareholder group Mantra/Wyser-Pratte, which were widely presented via the media prior to the annual general meeting, were rejected by majorities ranging between 68% and 76%. Dr. Hans Baumgartner, Chairman of the Board of Directors says:
"The long-term oriented strategy pursued by the Board of Directors was clearly confirmed by the shareholders today. I thank all shareholders for their continued support. We will do our best together with the manager of PEH, Alpha Associates, to ensure Private Equity holding AG will perform above-average in the long run and be in a position to pay an attractive annual dividend to its shareholders."
The agenda items, the proposals of the Board of Directors and the presentation which was shown at the Annual General Meeting are published on www.peh.ch.
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Private Equity Holding AG (SIX: PEHN), managed by Alpha Associates, offers investors the opportunity to invest, within a simple legal and tax optimized structure, in a broadly diversified and professionally managed private equity portfolio.
For further information, please contact:
Peter Wolfers, Investor Relations, peter.wolfers@peh.ch, phone +41 41 726 79 80, http://www.peh.ch
