Evolva Holding SA Shareholders Make Key Decisions at AGM, Opting-out Clause Rejected

In a significant annual general meeting held on 12 April 2024, shareholders of Evolva Holding SA, a company in liquidation, cast their votes on various proposals put forward by the Board of Directors and Nice & Green SA, the largest shareholder. The AGM, which saw a 47.3% turnout of outstanding shares, led to the approval of all board proposals with substantial majorities, including the controversial decisions to revoke the company’s liquidation and delisting from the stock exchange. However, a proposal to introduce an opting-out clause in the articles of association was notably rejected.

Specific outcomes from the AGM include overwhelming approval for the board's financial and management reports for the fiscal year 2023, the re-election of board members and auditors, and modification of the Articles of Association to allow for hybrid/virtual general meetings. Notably, despite Nice & Green SA’s push, the opting-out proposal was turned down when excluding their vote, highlighting shareholder wariness about removing limitations on voting rights and takeover bids.

Additionally, Evolva announced a positive outcome of the purchase price adjustment from the sale of Evolva AG to Danstar Ferment AG. Originally set at CHF 20 million, the adjustment added an additional CHF 2.117 million to the sale price, marking a financial win for the company amidst its pivotal AGM decisions.