Ad hoc announcement pursuant to Art. 53 LR
November 28, 2024, Basel – Youngtimers AG (the “Company”), a Swiss-listed company (SIX: YTME), today held an Extraordinary Shareholders’ Meeting. All proposals by the Board of Directors were unanimously approved by the shareholders. Among other things, the shareholders approved the election of Mr. Yin Pan (Ben) Cheng and Mrs. Jue (Kirsten) Gao as additional members of the Board of Directors. In its subsequent constitutional meeting, the Board of Directors has appointed Ben Cheng as Vice Chairman. The shareholders also approved the introduction of a new capital band of CHF 45’368’546.58 (upper limit) and CHF 15’122’848.86 (lower limit), authorizing the Board of Directors until 27 November 2029 respectively an earlier lapse of the capital band, to increase or reduce the share capital once or several times and in any amounts within the capital band, as well as a new Conditional Capital of a maximum of CHF 4’536’000 through the issuance of a maximum of 10’800’000 new, fully paid-in bearer shares with a nominal value of CHF 0.42 each, to enable the issuance of options to members of the Board of Directors, members of the Executive Board, employees, agents, consultants or other persons, which provide services for the Company or one of its group companies. Furthermore, the Shareholders approved the amendment in the Company’s Articles of Association of the Company’s purpose, to better reflect its nature as a holding company.
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About Youngtimers AG
Youngtimers AG is listed in Switzerland (symbol YTME on SIX Swiss Exchange) and headquartered in Basel, for more information please refer to youngtimers.com
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