General Meeting of Shareholders
The main powers of the General Meeting of Shareholders relate to:
- The appointment, suspension and dismissal of members of the Managing Board and the Supervisory Board
- Approval of the remuneration policy of the Managing Board
- Approval of the remuneration of the Supervisory Board
- The adoption of the annual financial statements and declaration of dividends on ordinary shares
- Release from liability of the members of the Managing Board and the Supervisory Board
- Issuance of shares or rights to shares, restriction or exclusion of pre-emptive rights of shareholders and repurchase or cancellation of shares
- Amendments to the Articles of Association
- Decisions of the Managing Board that would entail a significant change to the identity or character of DSM or its business
The Annual General Meeting (AGM) is held within six months of the end of the financial year in order to discuss and, if applicable, adopt the Integrated Annual Report, the annual accounts, any appointments of members of the Managing Board and the Supervisory Board, and any of the other topics mentioned above.
The AGM and, if necessary, other General Meetings of Shareholders are called by the Managing Board or the Supervisory Board. The agenda and explanatory notes are published on the company website.
According to the Articles of Association, shareholders who, individually or jointly, represent at least 1% of the issued capital have the right to request the Managing Board or the Supervisory Board to put items on the agenda. Such requests need to be received in writing by the Chairman of the Managing Board or the Chair of the Supervisory Board at least 60 days before the date of the General Meeting of Shareholders.
The AGM was held on 8 May 2020. In view of the COVID-19 measures, the AGM was held virtually in compliance with the Temporary Act COVID-19. Shareholders were given the opportunity to ask questions upfront. All questions were addressed during the AGM and posted as Q&As on the company website. The agenda was essentially similar to that of previous years. Additional topics were the remuneration report 2019 for an advisory vote, the reappointments to the Supervisory Board of Rob Routs, Eileen Kennedy and Pradeep Pant, as well as the appointment of Thomas Leysen. All topics were adopted by the Annual General Meeting of Shareholders.
