Interdealer broker Compagnie Financière Tradition today posted an invitation for its Annual General Meeting to be held at the registered office of the Company, Lausanne, on Wednesday, 19 May 2021, at 3.30 pm.
Directors’ compensation is among the topics to be put to vote at the AGM. The Board of Directors proposes that shareholders approve the maximum aggregate compensation for Directors for the 2022 calendar year, namely CHF 370,000.
Also, the Board of Directors proposes that shareholders approve the maximum aggregate compensation for the members of the Executive Board for the 2022 calendar year, namely CHF 17,000,000.
The Board of Directors proposes that each of the following Directors who are standing for re-election or election be individually re-elected or elected to office for a term of one year ending at the next Annual General Meeting:
- Mr Patrick Combes
- Mr François Carrard
- Mr Hervéde Carmoy
- Mr Jean-Marie Descarpentries
- Mr Christian Goecking
- Mr Robert Pennone
- Mr Urs Schneider
- Mr Eric Solvet
- Mr Marco Illy
- Mr Alain Blanc-Brude
The Board of Directors proposes that Mr Patrick Combes be re-elected as Chairman of the Board for a term of one year and that Mr François Carrard and Mr Christian Goecking be re-elected as members of the Remuneration Committee for a term of one year.
The Board of Directors is proposing the distribution of a dividend in the form of (1) a cash dividend and (2) a distribution of treasury shares held by the Company, on the following terms:
- Upon presentation of coupon No. 26, each Compagnie Financière Tradition SA bearer share held at the close of trading on the day immediately preceding the ex-dividend date, scheduled for 21 May 2021, shall entitle the bearer to receive a cash payment of CHF 5.00 per bearer share with a nominal value of CHF 2.50, up to a maximum of 7,624,385 shares (excluding treasury shares held by the Company at the date of the General Meeting).
- Upon presentation of coupon No. 27, a dividend, to be deducted from the legal reserve from capital contributions, will be paid as follows : each Compagnie Financière Tradition SA bearer share held at the close of trading on the business day immediately preceding the ex-dividend date, scheduled for 21 May 2021, shall be allotted one bearer share of Compagnie Financière Tradition SA, from the holding of treasury shares, for every 75 No. 27 coupons held.
Let’s recall that, for 2020, the Group reported adjusted consolidated revenue amounted to CHF 981.2 million in 2020 compared with CHF 1,012.4 million in 2019. The result, however, increased by 2.4% at constant exchange rates with the interdealer broking business (IDB) up 2.6% at constant exchange rates to CHF 946.8 million while the Forex trading business for retail investors in Japan (Non-IDB) was down 3.0% to CHF 34.4 million.
Reported operating profit for the year was up 35.9% at constant exchange rates to CHF 84.1 million compared with CHF 65.5 million in 2019, for an operating margin of 9.3% and 7.1% respectively.
For 2020, profit before tax was CHF 86.9 million compared with CHF 72.4 million in 2019.
Consolidated net profit was CHF 74.6 million compared with CHF 64.3 million in 2019 with a Group share of CHF 70.9 million against CHF 60.4 million in 2019, an increase of 24.4% at constant exchange rates.