Alcon Shareholders Approve All Binding Resolutions at the 2021 Annual General Meeting

Rhea-AI Summary

Alcon Inc. (SIX/NYSE: ALC) held its 2021 Annual General Meeting, where 70.87% of shares were represented. Mike Ball was re-elected as Chair, and all Board members up for re-election were maintained. Shareholders approved a dividend of CHF 0.10 per share, marking Alcon's first dividend. The 2020 Compensation Report was not approved in a consultative vote. Pricewaterhouse Coopers SA was re-elected as auditors. Alcon is set to announce its Q1 2021 earnings on May 4. The company emphasizes ongoing product launches and market share growth despite pandemic challenges.

Positive

• Dividend declaration of CHF 0.10 per share, marking Alcon's first dividend.
• High shareholder engagement with 70.87% of shares voting.
• Successful re-election of all Board members, indicating strong confidence in leadership.
• Continued progress in product launches and market share growth reported.

Negative

• 2020 Compensation Report was not approved in a consultative vote.

Alcon Inc. (SIX/NYSE: ALC), the global leader in eye care dedicated to helping people see brilliantly, today announced the results of its 2021 Annual General Meeting.

Given the global COVID-19 outbreak, Alcon previously directed shareholders to send their voting instructions to the independent representative, Hartmann Dreyer Attorneys-at-Law.

Shareholders showed a high level of interest and engagement in the resolutions proposed, with a total of 347,227,434 Alcon Inc. shares, corresponding to 70.87% of the shares entitled to vote, represented.

Shareholders re-elected Mike Ball as Chair of the Board of Directors and all members of the Board who stood for re-election, namely Lynn Bleil, Arthur Cummings, David Endicott, Thomas Glanzmann, D. Keith Grossman, Scott Maw, Karen May, Ines Pöschel and Dieter Spälti, for a term of one year. Shareholders also re-elected Karen May, Thomas Glanzmann and Ines Pöschel to the Compensation Committee. Discharge was granted to the members of the Board of Directors and the members of the Executive Committee for the 2020 financial year.

In two binding votes, shareholders showed strong support approving the maximum aggregate amount of compensation of the Board of Directors for the next term of office ending at the 2022 Annual General Meeting and the Executive Committee for 2022. In a non-binding consultative vote, shareholders did not approve the 2020 Compensation Report. Minutes of the meeting are available on Alcon’s Investor Relations website.

“On behalf of the entire Board of Directors, I want to thank our shareholders for their strong participation in our Annual General Meeting and for the trust you place in Alcon to continue leading on our promise of helping people See Brilliantly,” said Mike Ball. “We appreciate that our shareholders have shared their voice, and we take their input very seriously. We have a robust investor outreach program and are committed to bringing their ideas and insights into these discussions later this year. The Board is pleased with the tremendous progress the Company has achieved, despite the challenges of the global pandemic, by successfully executing new product launches, gaining market share on key products, remaining on track with strategic initiatives and maintaining full employment of its associates. As the markets recover, Alcon is well positioned with its innovative product portfolio to drive long-term shareholder value and sustainable growth.”

Alcon shareholders approved the operating and financial review of Alcon Inc., the annual financial statements of Alcon Inc. and the consolidated financial statements for 2020.

Shareholders approved the dividend declaration of CHF 0.10 per share, the Company’s first dividend. After the appropriation of the proposed dividend, an amount of CHF 160,000 will be allocated to the general reserve, and the remaining amount of available earnings will be carried forward.

Pricewaterhouse Coopers SA, Geneva, was re-elected as statutory auditors for the 2021 financial year. Hartmann Dreyer Attorneys-at-Law was re-elected as the independent representative for a term of one year, extending until the 2022 Annual General Meeting.

Alcon will announce its first-quarter 2021 earnings on May 4 after the close of the U.S. markets, with an investor call scheduled for May 5.

Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “commitment,” “look forward,” “maintain,” “plan,” “goal,” “seek,” “target,” “assume,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. An example of a forward-looking statement includes, among others, statements Alcon makes regarding the payment of a dividend.

Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties and risks that are difficult to predict. Some of these factors are discussed in our filings with the United States Securities and Exchange Commission, including our Form 20-F. Should one or more of these uncertainties or risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated. Therefore, you should not rely on any of these forward-looking statements.

Forward-looking statements in this press release speak only as of the date they are made, and we assume no obligation to update forward-looking statements as a result of new information, future events or otherwise.

ABOUT ALCON
Alcon helps people see brilliantly. As the global leader in eye care with a heritage spanning more than seven decades, we offer the broadest portfolio of products to enhance sight and improve people’s lives. Our Surgical and Vision Care products touch the lives of more than 260 million people in over 140 countries each year living with conditions like cataracts, glaucoma, retinal diseases and refractive errors. Our more than 23,000 associates are enhancing the quality of life through innovative products, partnerships with eye care professionals and programs that advance access to quality eye care. Learn more at www.alcon.com.

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FAQ

What are the key outcomes of Alcon's 2021 Annual General Meeting?

The key outcomes included the re-election of the Board, approval of a CHF 0.10 dividend, and the non-approval of the 2020 Compensation Report.

What percentage of Alcon shares were represented at the AGM?

A total of 70.87% of the shares entitled to vote were represented at the AGM.

When will Alcon announce its first-quarter 2021 earnings?

Alcon is set to announce its first-quarter 2021 earnings on May 4, after the U.S. market close.

Who was re-elected as Chair of Alcon's Board of Directors in 2021?

Mike Ball was re-elected as Chair of the Board of Directors at Alcon's 2021 AGM.

What was significant about Alcon's 2021 dividend declaration?

The dividend of CHF 0.10 per share is significant as it marks Alcon's first dividend payment to shareholders.