Ethos maintains its support for the independent members on the board at the extraordinary general meeting of Sika, which will take place on 24.07.2015 called by the Burkard Family. Ethos recommends the refusal of all the propositions of the Burkard Family. In particular, Ethos refuses the dismissal of the Chairman of the board and two board members who have demonstrated their loyalty and commitment to Sika's independence. They have acted in the interest of the company, its shareholders other than the Burkard Family, which hold 84% of the share capital, as well as of its employees and other stakeholders.
The extraordinary general meeting was called by the Burkard Family to dismiss the Chairman (Paul Hälg) and two board members (Monika Ribar and Daniel Sauter). The meeting is also called to elect a new member to the board (Max Roesle) proposed by the Burkard Family to take over the Chairmanship.
Ethos is clearly opposed to these different board changes. The Foundation maintains its confidence in the six independent members of the board and in the executive committee of Sika. Finally, Ethos recommends to vote for the 2015 remuneration proposed for the members of the board.
Ethos urges all the shareholders to exercise their voting rights at this important meeting. It is crucial that minority shareholders massively vote to defend the long term interests of Sika.
The minority shareholders hold bearer shares. Those who want to exercise their voting rights must ask their depositary bank to send them an entry card for the meeting. This card enables them to either participate in person in the meeting or to be represented by another person. The Ethos Foundation will participate in the general meeting and will represent any shareholders that wish so. To this effect, the shareholders must give proxy to “Ethos Foundation, PO Box, 1211 Geneva 1”. Ethos will vote in accordance with the recommendations that are included in its proxy voting report.