Spazio Investitori

Ordinary General Meeting of 
21 May 2025: 
incorrect media coverage.

• According to some media reports, the company proposed (after the event) the election of Mr Jean-Pierre Roth as the representative of the bearer shareholders, and even elected him as such at the Ordinary General Meeting.

  - This is wrong.
  In point 5.7 of the invitation, Swatch Group clearly proposed the election of Mr Jean-Pierre Roth as a member of the Board of Directors and the Ordinary General Meeting elected him to the Board with 86.5% of positive votes.

  Swatch Group further informed that of the 86.5% total positive votes cast by the General Meeting in favour of Mr Jean-Pierre Roth, 68.6% were positive votes by bearer shareholders.

• According to the same media, the company implemented an opaque/confusing election procedure.

  - This is wrong.
  In point 5.8 of the invitation, Swatch Group carried out a vote of the bearer shareholders for the election of Mr Steven Wood as representative of the bearer shares, as well as a vote of all shareholders (registered and bearer shares combined) on his election as member of the Board of Directors.

  Swatch Group presented the results in a transparent manner.While Mr Steven Wood was elected as the representative of the bearer shareholders with 61.9%, the Ordinary General Meeting rejected his election to the Board of Directors as representative of the bearer shareholders with 79.2% on the basis of the important reasons mentioned.

  This is fully in line with the much-cited decision of the Swiss Federal Supreme Court, which states that the General Meeting has the right to reject the election of a representative of a class of shares for important reasons.

• GreenWood Investors and its lawyer attended the Ordinary General Meeting. At the Ordinary General Meeting, Mr. Steven Wood did not introduce himself to the Board of Directors or to the shareholders. Neither GreenWood Investors nor its lawyer spoke, made any proposals or raised any objections during the Ordinary General Meeting.