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APG|SGA cancels dividend - General Meeting without physical attendance
Following a strong start to the year, the direct impact of the COVID -19 - measures introduced in mid-March have resulted in a sharp fall in sales for APG|SGA. It is currently impossible to predict how long this situation will continue. The Board of Directors has therefore reassessed the situation and will propose to the ordinary General Meeting of 14 May 2020 that the dividend of CHF 11 per share originally planned and announced be cancelled.
In this exceptional crisis situation it is important to remain functional and safeguard liquidity in the interests of our customers, market partners and employees. Therefore, as well as the introduction of short-time working and a salary reduction of the Management, further comprehensive measures to reduce costs and investment were quickly agreed.
The Board of Directors and Management are confident that APG|SGA is very robust overall and will come out of this crisis stronger with its proven business model. The medium and longer-term prospects for Out of Home media and for APG|SGA as a leading provider in the on the analogue and digital market remain positive.
The Board of Directors has also decided that, on the basis of the federal government’s COVID-19 Ordinance 2, the ordinary General Meeting of 14 May 2020 will be held without the physical attendance of shareholders or their representatives in order to protect the shareholders and employees. APG|SGA shareholders will be able to exercise their rights through the independent proxy, either in writing or electronically.
Contact
APGISGA AG, Media Office
T+41 58 220 70 71, media@apgsga.ch
