EGL: Unchanged dividends approved at the Annual General Meeting of Shareholders

At EGL AG's 54th General Annual Meeting, Chairman Heinz Karrer, CEO Hans Schulz and CFO Andreas Rudolf presented the annual financial statement and result for 2009/10 to the 198 shareholders in attendance (93.58% of shareholder votes). As already communicated in December, the result was disappointing at CHF 25.3 million (2008/09: CHF 186.4 million). Reasons were lower gross margins due to a difficult market environment, the weak euro vis-à-vis the Swiss franc, and the outage of the nuclear power plant Bugey, as well as exit costs from the Energy Plus power plant project.

EGL shareholders approved the annual financial statement for 2009/10 and also voted for dividend continuity with an unchanged dividend of CHF 18.00 per share. The EGL Board of Directors was granted approval for their actions and KPMG AG was confirmed as the auditor for a further year.

Shareholders re-elected five board members, Heinz Karrer (Chairman), Rolf Bösch (Vice-Chairman), Peter Derendinger, as well as Dominik Koechlin and Andrew Walo for another three-year term. Having reached the age limit of 65, Benedikt Weibel did not run for re-election. In the future the Board of Directors will consist of five members. As a result, Hansueli Sallenbach also did not stand for another term. The Board of Directors thanks Messrs. Weibel and Sallenbach for their valuable contributions.

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EGL is a European energy trading company with its own assets. EGL is a leader in proprietary trading, in the sale of standardised products, and in the development of structured products and innovative services for customers. EGL is accredited to trade on all the major European energy exchanges and listed on the SIX Swiss Exchange. Its head office is in Dietikon near Zurich (Switzerland). It also has a local presence in many parts of Europe through its more than twenty subsidiaries.

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