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Cicor Shareholders Approve All Proposals, Successful Completion of Share Purchase Agreement
July 19, 2021 | Cicor Technologies Ltd.Estimated reading time: 2 minutes
Cicor Technologies Ltd. shareholders approved all proposals at the Extraordinary General Meeting of Cicor Technologies Ltd. on July 16, 2021. The Board of Directors was also informed that the closing of the share purchase agreement between HEB Swiss Investment AG and OEP 80 B.V. has taken place.
At the Extraordinary General Meeting of Cicor Technologies Ltd. at which, due to the ongoing corona pandemic, shareholders could only exercise their voting rights by means of a proxy and instructions to the independent proxy, the shareholders approved all proposals. The meeting elected Ms. Norma Corio and Mr. Konstantin Ryzhkov as new members of the Board of Directors. Mr. Konstantin Ryzhkov was also elected as a new member of the Remuneration Committee.
Furthermore, the proposal to increase the total remuneration of the Board of Directors, due to the increase of the number of members of the Board of Directors from four to five, was approved. The independent proxy Etude Athemis, Rue Jaquet-Droz 32, 2300 La Chaux-de-Fonds, was also elected for the term of office up to and including the next Annual General Meeting.
The Board of Directors was informed on Friday July 16, 2021 that the closing of the share purchase agreement between HEB Swiss Investment AG, Zurich, Switzerland, and OEP 80 B.V., Amsterdam, The Netherlands, has taken place. Dr. Rüdiger Merz, the representative of the previous major shareholder HEB Swiss Investment AG, has therefore resigned from the Board of Directors of Cicor Technologies Ltd. as announced.
In the constitutive meeting of the Board of Directors, which also took place on July 16, 2021, it was noted that with the execution of the share purchase agreement the condition precedent for the elections of Ms. Norma Corio and Mr. Konstantin Ryzhkov is fulfilled. Additionally, Ms. Norma Corio was admitted to the Audit Committee at the constituent Board meeting.
The Board of Directors expresses its sincere thanks to Dr. Rüdiger Merz for his commitment and to HEB Swiss Investment AG for its longstanding commitment to Cicor. It also extends a warm welcome to the newly elected Board members Norma Corio and Konstantin Ryzhkov.
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