SWITZERLAND. Dufry Group today confirmed that its Ordinary General Meeting will be held on 18 May at company offices in Basel. It had been postponed from 7 May, as reported.
The meeting will be held without the presence of shareholders, but they may exercise their rights through an Independent Voting Rights Representative. This measure makes it possible to hold the Ordinary General Meeting despite the current COVID-19 pandemic, said the company.
On the agenda are approval of financial statements for 2019; the non-payment of a dividend in 2020; the creation of additional share capital for Convertible Bonds; re-election of Directors and compensation for Directors and the Global Executive Committee, among other matters.
As reported, Dufry Group is planning for a “worst-case scenario” of a -70% fall in sales year-on-year in 2020, in which case it anticipates a return to 2019 business levels by 2022.
Last week it also announced a wide-ranging set of initiatives to strengthen its capital structure and liquidity position, in response to the impact on travel and sales of the COVID-19 crisis.
