Yesterday the Annual General Meeting (AGM) of Shareholders of Bank Sarasin & Co. Ltd approved all the resolutions submitted by the Board of Directors. A dividend payout was deferred until the acquisition of Rabobank's majority shareholding in Sarasin has been completed by Safra. The earnings were therefore assigned to profit brought forward. Pim W. Mol was re-elected for a term of office lasting until the transaction is closed.
At the AGM the shareholders approved the annual report and the consolidated financial statements for 2011, as well as discharging the Board of Directors and Executive Committee. Pim W. Mol was re-elected for a term of office lasting until the transaction is closed. The meeting also confirmed Ernst & Young AG as Statutory and Group Auditors.
The annual profit has been allocated to the profit brought forward. Shareholders approved the motion for a dividend payout to be suspended until the acquisition of Rabobank's majority shareholding in Sarasin has been completed by Safra and the mandatory Extraordinary General Meeting (EGM) has been convened. The date of the EGM will be announced once the transaction is closed. The next ordinary AGM of shareholders will take place on 26 March 2013.