Ordinary General Meeting of Swiss National Insurance Company
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Swiss National Insurance Company held its Ordinary General Meeting
today in Basel, which was chaired by Dr RenÃ© Theler, Chairman of the
Board of Directors. The shareholders approved the 2008 annual report
and the annual financial statements. The General Meeting agreed to
the Board of Directors' proposal to carry out a share split and to
issue a stock dividend. Current members Dr Andreas von Planta,
Dr Walter GrÃ¼ebler and Peter E. Merian were re-elected to the Board
of Directors for another four-year term and Dr Bruno H. Letsch was
newly elected to the Board of Directors.
The 257 shareholders present represented 381,206 registered shares.
Including proxy shares, a total of 462,367 shares were represented.
This corresponds to 44.03% of shareholder votes.
The General Meeting approved the split of registered shares at a
ratio of 1:20 as proposed by the Board of Directors. The par value
per share is now CHF 0.40 (previously CHF 8). Trading of the split
shares is planned to begin on the SIX Swiss Exchange from 26 May
2009. By making the shares more tradable, the share split will enable
increased liquidity on the exchange and improve the situation for
small shareholders due to the stock dividend that was also approved.
Ordinary capital increase for the distribution of a stock dividend
After the split, the company's share capital will remain unchanged at
CHF 8,400,000. This will be increased by CHF 420,000 (5%) to CHF
8,820,000 through an ordinary capital increase via the issue of
1,050,000 registered shares with a par value of CHF 0.40 a share. The
General Meeting approved this proposal today in order to allow for
the distribution of a stock dividend. The additional share capital
will be created through a transfer of free reserves into share
capital - that is, without an inflow of funds from shareholders.
Issuing shares without charge in the form of a stock dividend aims to
support Nationale Suisse's strong capital base. Thus the stock
dividend will increase Nationale Suisse's risk capacity and room to
manoeuvre in the current challenging economic environment.
After close of trading on 25 May 2009 shareholders will be given one
subscription right for each outstanding share (at a par value of CHF
0.40). 20 subscription rights entitle the shareholder to subscribe
for one new share (with a par value of CHF 0.40) free of charge. This
means that a shareholder who has previously held one share can
subscribe for a new share without purchasing additional subscription
rights. In principle, shareholders have the option of automatically
subscribing for the new shares at a ratio of 20:1, selling the
distributed subscription rights and realising the corresponding cash
proceeds, or buying additional subscription rights to acquire new
shares. The subscription rights are planned to be traded on the SIX
Swiss Exchange from 26 May to 4 June 2009.
The new shares from the stock dividend issue are scheduled to be
delivered and booked into custody accounts on 10 June 2009.
Change of the company name: Swiss National Insurance Company Ltd
Because of statutory requirements, the legal form of the company must
be included in the company name by the end of 2009 at the latest.
Therefore, through a change to the Articles of Association, the name
has been changed to "Swiss National Insurance Company Ltd".
Board of Directors: continuity and new strength through the election
of Dr Bruno H. Letsch
Current members Dr Andreas von Planta, Dr Walter GrÃ¼ebler and Peter
E. Merian were re-elected to the Board of Directors for an additional
term of four years.
Dr. Bruno H. Letsch was elected as a new member of the Board of
Directors. Until 2005, Dr Letsch spent many years at Swiss Re in a
number of asset management roles. He is regarded as a proven expert
in investment, and with his knowledge and experience he will be an
effective addition and support to the National Suisse Board of
Nationale Suisse is an innovative, The headquarters of Swiss
international Swiss insurer providing National Insurance Company Ltd
first-rate risk and pension solutions is in Basel. Nationale Suisse
and tailored niche products. The Group is listed on the SIX Swiss
has gross premiums of CHF 1.67 Exchange (NATN). On 31
billion, about 30% of which come from December 2008 the Group
their subsidiaries in Germany, employed 1,775 persons (FTEs).
Belgium, Italy and Spain.
You can access this media release on Swiss National Insurance
our website www.nationalesuisse.ch Company wishes to point out
under Medien/Medienmitteilung. that any forward-looking
statements in this report are
based on projections,
estimates and assumptions. The
influence of uncertain and
and certain risks may mean
that actual performance
deviates significantly from
Sophia Schor Nationale Suisse
Media relations Steinengraben 41
Tel. +41 61 275 23 86 4003 Basel
Fax +41 61 275 22 21 www.nationalesuisse.ch
Annual General Meeting 18.05.2009
Publication of Semi-Annual Report 16.09.2009
Media conference to announce financial 16.09.2009
results at Hotel Park Hyatt, Zurich
Financial analysts' conference at 16.09.2009
Hotel Park Hyatt, Zurich
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Steinengraben 41 Basel
WKN: 1081197; ISIN:
CH0010811971; Index: SMCI, SPI, SPIEX;
Listed: Main Market in SIX Swiss Exchange;