Ordentliche Generalversammlung der Goldbach …...Source: KommTech Studie 2012, IGEM and...

Ordentliche Generalversammlung der Goldbach Group AG Goldbach-Küsnacht, 26. April 2012

© 2012 Goldbach Group 2

1. Begrüssung & Einleitung Bruno Widmer, VR-Präsident

2. Genehmigung des Geschäftsberichts mit

Jahresbericht, Jahres- und Konzernrech-

nung 2011 sowie Kenntnisnahme von den

Berichten der Revisionsstelle

/ Rückblick auf 2011 Bruno Widmer

/ Die Ereignisse im Überblick Klaus Kappeler, CEO

/ Das Finanzergebnis Stephan Bergamin, CFO

/ Ausblick 2012 Klaus Kappeler

Agenda (1/2).


3. Beschlussfassung über die Verwendung Bruno Widmer

des Bilanzgewinnes

4. Genehmigtes Kapital: Verlängerung der

Ermächtigung

5. Entlastung der Mitglieder des Verwaltungsrates

und der übrigen Geschäftsführungsorgane

6. Wahlen

7. Diverses

Agenda (2/2).


http://ap.viewsonic.com/my/products/viewphone/viewphone3/

http://www.addthis.com/bookmark.php?v=250&username=vsap


2. Genehmigung des Geschäftsberichts / Rückblick auf 2011 (Bruno Widmer)

Rückblick auf 2011.

6

/ Umsatzwachstum: CHF 446.0 Mio.

• Business Line Goldbach Media: CHF 337.7 Mio.

• Business Line Goldbach Audience: CHF 75.1 Mio.

• Business Line Goldbach Interactive: CHF 39.1 Mio.

(Corporate CHF – 6.0 Mio.)

/ EBIT Wachstum: CHF 30.0 Mio.

/ Internationaler Umsatzanteil: 13 %

© 2012 Goldbach Group

Meilensteine 2011.

7

/ January: launch of new TV portfolio

/ February: launch of Wilmaa time machine

/ March launch of Radio Spot Auditor

/ April: launch of Swiss Live TV Network

/ June: launch of Wilmaa Radio plattform

launch of TAO agency tool

/ July: launch of Goldbach Interactive Austria

sale of an additional part of ARBOmedia’s print-business

launch of local TV network representation in Romania

launch of Wilmaa EPG (Electronic Pogramme Guide)

/ August: end of ARBOmedia Squeeze-out process

/ September: launch of Goldbach Interactive Poland

/ December: management-buy-out ARBOmedia Moscow

sale of last print-business in Romania



/ Continuation of profitable growth in both segments, Online and Offline

/ Double digit growth in sales

/ Double digit growth in EBIT

/ Dependency on development of FX-rates due to international exposure

Erreichung der Ziele 2011.

Finanzresultate 2011 und Vorjahre.


Core Business Result:

The Core Business Result excludes the Print Business in Romania (as it does not belong to the group‘s core operation) as well as positive and negative one-time

items above CHF 1m, mainly in connection with acquisitions and disposals of subsidiaries.

*Operating Expenses excluding Amortization, Depreciation and Impairment

Core Business 2011 2010 2009

Net Revenue 446.0 327.2 306.5

Gross Profit 99.0 78.0 72.2

EBIT 30.1 21.7 18.6

OPEX* -65.7 -53.3 -50.1

10

Goldbach Group Performance seit dem IPO.


Quelle: Bloomberg, 25.04.2012

Entwicklung seit IPO

15. Juni 2007

Ausgabekurs CHF 42.-

Goldbach Group -42%

Offline Peers -29% (Havas, Publicis, WPP, Aegis,

PubliGroupe, Edipresse,

Tamedia, JC Decaux)

Online Peers -75% (AdLINK Internet Media, Ad

Pepper Media, ValueClick,

TradeDoubler)

SWX Media Index -45%

SPI -25%

Vergleich zu Peer-Gruppen & Benchmarks

5

10

15

20

25

30

35

40

45

50

55

60

Jun-0

7

Sep

-07

Dec-

07

Mar

-08

Jun-0

8

Sep

-08

Dec-

08

Mar

-09

Jun-0

9

Sep

-09

Dec-

09

Mar

-10

Jun-1

0

Sep

-10

Dec-

10

Mar

-11

Jun-1

1

Sep

-11

Dec-

11

Mar

-12

Goldbach Group Offline Peers Online Peers SWX Media Index SPI


2. Genehmigung des Geschäftsberichts / Die Ereignisse im Überblick (Klaus Kappeler)


/ Aim of the study:

- Finding out the awareness and image of Goldbach Group

- Comparison to the 2010 survey

/ Survey method and reporting:

- Conceived and carried out in the form of quantitative questions

- Online with follow-up calls made by DEMOSCOPE in the period from January 23rd to February 20th, 2012

- Approx. 2’000 addresses

- 107 participants

Follow-up Survey Swiss Advertising Market 2012.


/ If you think about the communication scene in Switzerland, about publishing

(electronic publishers as well), agencies and content providers: Which is the

most interesting Swiss company for you at present in this area? And which one

or two other companies from the communication scene are also of interest to

you?

Knowledge of Marketing and Communication Scene.


/ Which marketer ist the most interesting for electronic media? Are there

marketers even more interesting for electronic media?

The Most Interesting Marketers of Electronic Media.


/ If you think about the media marketing scene in Switzerland: Which company is

the most interesting Swiss company for you? And which one to two other

companies from the media marketing scene are likewise interesting to you?

The Most Interesting Media Marketing Companies.


/ Which business fields or media do you think of when you think about the

Goldbach Group (as a whole or as regards the individual companies?)

Spontaneous Associations With Goldbach Group.

17 © 2012 Goldbach Group

Continuing Strong net Revenue Growth.

1991 1997

1989 1992 1999

2000

2001

2002

2003

2004 2006

2005 2007

2008

2009

2010 1983

74.0 79.4 103.5

129.5

181.7

237.0

306.5

0.3 5.5 8.0

42.9

Sales

Radio + TV + Internet

327

2011

Goldbach Interactive

Austria

Poland

Czech Rep.

446

2012

The International Setup of Goldbach Group.

18

Offline:

Goldbach Media

(TV, Radio, Out-of-Home)

Online:

Goldbach Audience


Goldbach Mobile

Switzerland

Offline:

Goldbach Media (TV/out-of-home)

Online:

Goldbach Audience


Austria

Online:

Goldbach Interactive (Search)

Germany

WEST

Online:

Goldbach Audience

Croatia

Online:

Goldbach Audience

Serbia

Online:

Goldbach Audience

Slovenia

Adriatic EAST

Online:


Russia

Offline:

Goldbach Media (TV)

Online:

Goldbach Audience

Romania

Online:

ARBOmedia


Poland

Online:

Goldbach Czech Republic

Czech Republic

• 10 countries

• Headcounts Total: 542

• Headcounts Switzerland: 242

Status end of February 2012



Market Developments:

Swiss Advertising Market on the Level of 2006.

Quelle: Netto Werbeaufwand Schweiz der Stiftung Werbestatistik Schweiz (www.werbestatistik.ch). Semester Report Online 2011 von Media Focus für Internet. Interne Umsatzstatistiken von

Goldbach oder Schätzungen durch Goldbach für andere Medien im 2011.

in M

io.

CH

F

107 156 203 276 337 449 468 588 615 637 628 595

669 763 142 138 136 131 135 135

143 559

598 669 689 606

613 620

2299 2369

2487 2406

1915

2001 1913

3742 3921

4174 4169

3621

3902 3938

0

500

1000

1500

2000

2500

3000

3500

4000

4500

5000

0

500

1'000

1'500

2'000

2'500

3'000

3'500

4'000

4'500

5'000

2005 2006 2007 2008 2009 2010 2011e

Print total Kino OOH Teletext Radio total TV total Internet total Total Werbemarkt inkl. Online

• Print still declining

• Outdoor Advertising

on the level of 2006

• Sustainable growth in

elecronic media

http://www.werbestatistik.ch/


Switzerland:

TV Advertising Market Triples Itself Due to Private Offerings. 115

127

141

150

175

178

192

203

220

220

227

241

296

318

315 388

422 493

531

494

482

488

529

545

560

581

565

542 615 7

04

115

127

141

150

175

178

192

203

220

220

227

241

315

339

343

416

450

540

577

546

527

533

570

588

615

637

628

595

669

763

0

100

200

300

400

500

600

700

800

900

19

82

19

83

19

84

19

85

19

86

19

87

19

88

19

89

19

90

19

91

19

92

19

93

19

94

19

95

19

96

19

97

19

98

19

99

20

00

20

01

20

02

20

03

20

04

20

05

20

06

20

07

20

08

20

09

20

10

20

11e

TV Sponsoring

TV Spots

TV total

Quelle: Netto Werbeaufwand Schweiz der Stiftung Werbestatistik Schweiz (www.werbestatistik.ch). Semester Report Online 2011 von Media Focus für Internet. Interne Umsatzstatistiken von Goldbach oder

Schätzungen durch Goldbach für andere Medien im 2011.





Switzerland:

Continious Growth of Goldbach’s TV Market Share.

179 178 200 249

56 63 72

86

393 354 397 428

0%

20%

40%

60%

80%

100%

2008 2009 2010 2011e

SRG total CH-Private total Fenster total Anteil Goldbach total an TV total

• TV net revenue

Goldbach grew by

73 % to CHF 287 Mio.

(PY CHF 166 Mio.)

• organic growth

of TV net revenue

more than 20 %





Switzerland:

Special Advertising Formats Become More Important in Radio.

• Sponsoring

and special

advertising

formats double

share of total

Radio adverti-

sing revenue to

28 %

• SRG Radios

generate a third

of the segment

85% 88% 86% 84% 82% 81% 80% 80% 75% 78% 78% 78% 73% 72%

0%

20%

40%

60%

80%

100%

0

50

100

150

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011e

Radio Sponsoring total Privatradio Spot total Radio total Goldbach Anteil am Radiomarkt

CH

F 1

14

Mio

.

CH

F 1

42

Mio

.

CH

F 1

43

Mio

.

15% 13%

14% 16% 19% 20%

20% 20%

25% 22% 22% 22% 27%

28%

85% 88% 86% 84% 82% 81% 80% 80% 75% 78% 78% 78% 73% 72%



Switzerland:

Video will lead Display to Growth.

Quelle: Netto Werbeaufwand Schweiz der Stiftung Werbestatistik Schweiz (www.werbestatistik.ch). Semester Report Online 2011 von Media Focus für Internet. Interne Umsatzstatistiken von

Goldbach oder Schätzungen durch Goldbach für andere Medien im 2011.

Display split:

34% 33% 29% 34% 38% 34% 30%

17% 17% 22%

25% 28%

28% 30%

49% 49% 49% 41%

34% 38% 40%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2005 2006 2007 2008 2009 2010 2011e

Rubriken Search Display+Affiliate

11%

89%

Instream

Video

other Display/

Affiliate

advertising



PWC: Market Developments

German and Polish Advertising Market.

Source: PWC Global Entertainment & Media Outlook 2011 – 2015

0

1000

2000

3000

4000

5000

6000

7000

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Wired internet advertising Newspaper publishing advertising

Radio advertising Television advertising

Eu

ro m

illio

ns.

Germany Poland

Eu

ro m

illio

ns.

0

200

400

600

800

1000

1200

1400

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015


Goldbach goes Multi Screen:

Goldbach «Bewegtbild» in any Channel - on any Screen.

TV / AdScreen Tablet Mobile PC

Internet TV: The Media of „Digital Natives“.

26

Source: KommTech Studie 2012, IGEM and PublicaData. Daten für Personen über 15 Jahren, CH-Total

User Intensity TV (f.e. Wilmaa, Zattoo etc.)

/ Already half of the young Swiss people are using Internet TV such as Wilmaa or Zattoo

/ Over 23 % of this target group are using Internet TV once a week at least

27

2 3 5

16

49

6 7

10

26 28

2 3 5

18

23

0 2

5

16

9

1 1 2

5

NutzungInternet-TV

Täglich oderfast täglich

Mehrmals proWoche

Ungefähreinmal pro

Woche

Weniger alseinmal pro

Woche

Personen ab 15 Jahren 15-24 25-44 45-64 65+

15

20

27

0%

10%

20%

30%

40%

50%

Nutzung Internet-TV imJahresvergleich

Ante

il alle

r B

efr

agte

n

2009 2010 2011

+34%



The Goldbach Video Network ist THE Solution for

Modern, Cross Media Multi Screen Communication.

http://www.goldbachvideonetwork.com/


2. Genehmigung des Geschäftsberichts / Das Finanzergebnis (Stephan Bergamin)


/ Strong Sales growth of +35.4% despite of negative currency impacts:

- Media +61.9% (currency adjusted +62.2%)

- Audience -15.4% (currency adjusted -9.3%)

- Interactive +4.1% (currency adjusted +9.4%)

/ EBIT Margin (Core Business) increase from 6.6% to 6.7%:

- Media: From 10.2% to 10.1%

- Audience: From 2.5% to 4.9%

- Interactive: From 8.5% to 5.9%

/ EBIT growth (Core Business) compared to PY of 38.4%:

- Media +59.9%

- Audience +62.0%

- Interactive -27.0%

Financial Highlights 2011.


Explanatory comments.

/ Major Changes in Scope of Consolidation:

- After the completion of the squeeze-out procedure of ARBOmedia AG, Munich in

August 2011, Goldbach Group owns 100% of the company. Subsequently the shares of

ARBOmedia were delisted from the Stock Exchange in Frankfurt.

- In the second half-year 2011 the group sold the two remaining Romanian print

publishing companies Dunarea de Jos S.A. and Grupul de Presa Medianet S.A. With

the sale of these two companies, the disposal of the Print business in Romania is

completed.

/ Change in Presentation of Operating Segments:

- Since January 1, 2011 Goldbach Group reports in 3 Business Lines. The former Offline

Segment is renamed to Business Line Media. The former Online segment is divided

into the Business Lines Interactive and Audience. The prior year figures were adjusted

accordingly.


Impact of one-time items in 2011 and 2010.

1) Loss in relation to the sale of Print Business contains negative currency impact of CHF -1.6m

2) Figures relate to continuing operations in 2011


The Core Business Result excludes the Print Business in Romania (as it does not belong to the group‘s core operation) as well as positive and negative one-time

items above CHF 1m, mainly in connection with acquisition of ARBOmedia.

in CHFm2011

Reported

Disposal

Print

Business 1)

one-time

items

acquisition

ARBOmedia

-2011 Core

Business

delta

in CHFm

delta

in %

delta

in CHFm

delta

in %

Net Sales 446.0 - - - 446.0 116.6 35.4% 118.8 36.3%

EBITDA 37.3 - 4.0 - 33.4 8.2 28.3% 8.6 34.9%

EBIT 30.0 - -0.1 - 30.1 6.7 28.8% 8.3 38.4%

Net Profit 6.0 -2.5 0.1 - 8.4 0.9 18.7% -0.5 -6.1%

in CHFm2010

Reported 2) Print

one-time

items

acquisition

ARBOmedia

EU decision

on German

Tax Law

2010 Core

Business

Net Sales 329.4 2.2 - - 327.2

EBITDA 29.1 -0.7 5.1 - 24.7

EBIT 23.3 -0.9 2.4 - 21.7

Net Profit 5.1 -1.6 2.2 -4.5 9.0

2011

2010

Core BusinessReported


Key Figures – Reported Values.

1) Figures relate to continuing operations in 2011

* Operating Expenses excluding Depreciation, Amortization and Impairments

** Includes Financial Result, Income Taxes and Non Controlling Interests

-100,000

-

100,000

200,000

300,000

400,000

500,000

Net Sales Gross Profit OPEX* EBITDA EBITOther

Expenses**Disc Ops

(Print) Net Income

YE 2010 1) 329,394 78,563 -49,471 29,092 23,293 -17,615 -607 5,071

YE 2011 446,030 99,044 -61,716 37,328 30,007 -21,384 -2,605 6,018

in T

CH

F

+26.1%

+24.8%

+28.3 % +28.8% +18.7%

+35.4%

+21.4%


Double Digit Sales Growth – adverse FX impact.

/ Net Sales by Business Line

* Growth in Local Currency

-50,000

-

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

450,000

500,000

Media Audience InteractiveCorporate /

ConsoTotal Group

2010 208,602 88,845 37,578 -5,631 329,394

2011 337,724 75,173 39,135 -6,002 446,030

in T

CH

F

+61.9%

-15.4%

+4.1%

+35.4%+62.2%*

-9.3%*

+9.4%*

+37.9%*

-50,000

-

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

450,000

2010 2011

Interactive 37,578 39,135

Audience 88,845 75,173

Adscreen, TXT & Other 3,768 3,342

Radio 34,142 42,992

TV 170,692 291,390

Other & Consolidation -5,631 -6,002

Total Sales 329,394 446,030

Gro

wth

Ra

te:

+ 71%

+ 26%

-15%

+4%


Strong growth in TV and Radio.

/ Net Sales by Productline & Relative share of Total 3rd Sales by

Productline

Gro

wth

Rate

:

Gro

wth

Rate

:

65%10%

1%

15%

9%

52%

11%1%

25%

11%


/ Gross Profit & Gross Margin

Increase in Gross Profit of +26.1%.

-

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

100,000

2010 2011

Gross Profit 78,563 99,044

Gross Margin 23.9% 22.2%

in T

CH

F

Gross Profit +26.1%

Gross Margin -1.7 percentage

points due to Business Line

Media


/ Operating Expenses

OPEX increase of 24.9% vs Sales increase of 35.4%.

-90,000

-80,000

-70,000

-60,000

-50,000

-40,000

-30,000

-20,000

-10,000

0

10,000

20,000

2010 2011

Other Opex -11,902 -12,110

Other Operating Income 9,405 6,989

Depr.,Amort. & Impairments -5,799 -7,321

IT & Communication -3,532 -3,127

Marketing & Research -5,698 -7,172

Personnel Expenses -37,744 -46,296

Total OPEX -55,270 -69,037

in T

CH

F


EBITDA and EBIT Core Result.


The Core Business Result excludes the sold Print Business in Romania (as it did not belong to the group‘s core operation) as well as positive and negative one-time


/ EBITDA growth +34.9%

/ EBIT growth +38.4%

-

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

2010 2011

EBITDA 24,718 33,351

EBITDA Margin (in % of Net Sales)

7.6% 7.5%

in T

CH

F

EBITDA Margin -0.1

percentage points

EBITDA+34.9%

-

5,000

10,000

15,000

20,000

25,000

30,000

35,000

2010 2011

EBIT 21,744 30,086

EBIT Margin (in % of Sales)

6.6% 6.7%

in T

CH

F

EBIT Margin +0.1 percentage points

EBIT+38.4%


EBIT by Business Lines – Core Result.

in T

CH

F


The Core Business Result excludes the sold Print Business in Romania (as it did not belong to the group‘s core operation) as well as positive and negative one-time


/ Media:

/ EBIT growth +60%

/ Audience:

/ EBIT-margin doubled

/ Interactive:

/ International Roll-out

-

5,000

10,000

15,000

20,000

25,000

30,000

35,000

2010 2011

EBIT 21,256 33,987

EBIT Margin 10.2% 10.1%

EBIT+59.9%

-

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

2010 2011

EBIT 2,258 3,657


EBIT+62.0%

-

500

1,000

1,500

2,000

2,500

3,000

3,500

2010 2011

EBIT 3,185 2,326


EBIT-27.0%

2010


Impact on key figures due to the strong growth in TV. 2011

Net Sales

Gross Profit

OPEX (excl. amortization)

EBIT

/ Key Figures – Relative Share by Business Line (Core Result)

Media Audience Interactive

Media Audience Interactive

61%22%

17%

48%

25%

27%

85%

9%6%

64%

25%

11%

56%26%

18%

44%

34%

22%

80%

8%

12%

76%

15%

9%

-13,000

-11,000

-9,000

-7,000

-5,000

-3,000

-1,000

1,000

2010 2011

Financial Result -719 -857

Income Taxes -9,532 -7,767

Non Controlling Interests -7,364 -12,760

Net profit/(loss) f. disc.operations

-607 -2,605

Total -18,222 -23,989

in T

CH

F


/ Other Expenses, NCI, discontinued operations

Sale of Print and increase in Non Controlling Interests.

1) 2010: EU Decision on German Tax Law („Sanierungsklausel“) led to a one-time tax expense of TCHF 4‘492

2) In 2011 the remaining two print publishing companies were sold and therefore classified as discontinued operation. 2010 Figures were

adjusted accordingly. The 2011 figures includes Foreign Exchange Losses of CHF -1.6m previously recorded in Equity.

1)

2)


/ Net Profit, share of Goldbach Group shareholders

Net Profit increase by 18.7%.

5,071

6,018

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

2010 2011

in T

CH

F

Net Profit

+18.7%


Balance Sheet: Increased Equity.

-

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

180,000

200,000

Dec 2010 Dec 2011 Dec 2010 Dec 2011

Equity 57,171 62,073

Non-current Liabilities 42,064 35,084

Current Liabilities 99,349 100,359

Non-current Assets 59,050 47,185

Current Assets 139,534 150,331

Total 198,584 197,516 198,584 197,516

in T

CH

F

70%

30% 24 %

76%

50%

21%

29% 31%

18%

51%


Equity ratio up from 28.8% to 31.4%.

/ Equity, Equity Ratio

57.262.1

+18.8 -0.8 -2.0-12.2

+1.1

0.0

10.0

20.0

30.0

40.0

50.0

60.0

70.0

80.0

Equity Dec 10

Profit of the Year

CTA AcquisitionNCI

Dividends Other Movements

Equity Dec 11

in m

CH

F

Equity Ratio:28.8%

Equity Ratio:31.4%

0

20,000

40,000

60,000

80,000

100,000

120,000

Cash Balance YE 2010*

Operating CF Investing CF Financing CF FX Difference Cash Balance YE 2011

in T

CH

F

28'961-3'952 -17'702

-57374'359

67'625


/ Cash Flow Statement

Strong Operating Cash Flow.

* Adjusted for the discontinued operations


2. Genehmigung des Geschäftsberichts / Ausblick 2012 (Klaus Kappeler)


/ Guidance: - Single-digit sales growth - Increasing profitability and net profit

/ Depending on: - Macroeconmic development - Development of FX-rates due to international exposure

Ausblick 2012.


2. Genehmigung des Geschäftsberichts mit

Jahresbericht, Jahres- und Konzernrechnung 2011

sowie Kenntnisnahme von den Berichten der

Revisionsstelle.

Der Verwaltungsrat beantragt, den Geschäftsbericht mit Jahresbericht,

Jahres- und Konzernrechnung für das Geschäftsjahr 2011 zu genehmigen.


3. Beschlussfassung über die Verwendung des Bilanzgewinnes. Der Verwaltungsrat beantragt:

• Ausschüttung von CHF 0.71 pro Aktie aus den allgemeinen Reserven aus

Kapitaleinlage

• Vortrag auf neue Rechnung TCHF 16 956

Herleitung (Angaben in TCHF)

Gewinnvortrag 27 374

Jahresverlust – 10 508

Auflösung allgemeine Reserve aus Kapitaleinlage + 4 164

Veränderung Reserve für eigene Aktien + 90

Total zur Verfügung der Generalversammlung 21 120

Gewinnverwendung:

(i) Ausschüttung von CHF 0.71 pro Aktie aus den allgemeinen

Reserven aus Kapitaleinlage: 4 164

(ii) Vortrag auf neue Rechnung: 16 956

Total beantragte Gewinnverwendung 21 120

Total Ausschüttung 4 164

./.Anteil aus Reserven Kapitaleinlage – 4 164

Anteil übrige Reserven 0


4. Genehmigtes Kapital: Verlängerung der Ermächtigung. Der Verwaltungsrat beantragt, die bestehende Ermächtigung des Verwaltungsrates,

das Aktienkapital jederzeit durch Ausgabe von höchstens 635’380 vollständig zu

liberierenden Namenaktien zu erhöhen, um zwei Jahre, d.h. bis zum 21. Mai 2014, zu

verlängern sowie die entsprechende Statutenanpassung zu genehmigen.

Statuten neu (Änderungen werden „fett“ hervorgehoben):

Art. 3b: Genehmigtes Kapital

«Der Verwaltungsrat ist ermächtigt, jederzeit bis zum 21. Mai 2014 das Aktienkapital um

maximal CHF 794’225 (siebenhundertvierundneunzigtausendzweihundertfünfundzwanzig

Franken) durch Ausgabe von höchstens 635’380 voll zu liberierenden Namenaktien mit

einem Nennwert von je CHF 1.25 zu erhöhen. Die neuen Namenaktien unterliegen der

Eintragungsbeschränkung von Art. 6 der Statuten. Erhöhungen auf dem Weg der Fest-

übernahme sowie Erhöhungen in Teilbeträgen sind gestattet. Der jeweilige Ausgabebetrag,

der Zeitpunkt der Dividendenberechtigung und die Art der Einlagen werden vom Ver-

waltungsrat bestimmt. Über eine allfällige Zuweisung nicht ausgeübter Bezugsrechte

entscheidet der Verwaltungsrat im Interesse der Gesellschaft. Das Bezugsrecht der

Aktionäre kann ausgeschlossen werden, wenn solche neuen Aktien für die öffentliche

Platzierung, die Übernahme von Unternehmen durch Aktientausch, zur Finanzierung oder

Refinanzierung des Erwerbs von Unternehmen, Unternehmensteilen oder Beteiligungen

und von neuen Investitionsvorhaben der Gesellschaft verwendet werden sollen»


5. Entlastung der Mitglieder des Verwaltungsrates und

der übrigen Geschäftsführungsorgane

Der Verwaltungsrat beantragt, den Mitgliedern des Verwaltungsrates und

den Geschäftsführungsorganen für ihre Tätigkeit im Geschäftsjahr 2011

Entlastung zu erteilen.


6. Wahlen

6.1. Verwaltungsrat

Der Verwaltungsrat beantragt, die bisherigen Mitglieder des Verwaltungs-

rates, namentlich die Herren

Bruno Widmer,

Dr. Beat Curti,

Peter A.C. Blum,

Dr. Patrick Eberle,

Ronald Sauser,

Michael Scheeren und

Joachim Schoss

für die statutarisch vorgesehene Amtsdauer von einem Jahr als Mitglieder

des Verwaltungsrates wieder zu wählen.

6.2. Aktienrechtliche Revisionsstelle

Der Verwaltungsrat beantragt, die BDO AG, Zürich, als aktienrechtliche

Revisionsstelle für eine weitere Amtsdauer von einem Jahr zu wählen.


7. Diverses

GOLDBACH GROUP AG

Seestrasse 39

8700 Küsnacht

www.goldbachgroup.com

www.goldbachvideonetwork.com


All the opinions and forecasts contained in this presentation are expressed and made

exclusively by Goldbach Group. Opinions and forecasts are forward-looking statements

that use expressions such as "expect", "believe", "attempt", "estimate", "intend",

"assume", "try" and similar formulations. These statements express Goldbach Group's

intentions, views or current expectations and assumptions. These forward looking

statements are based on current plans, estimates and forecasts made by Goldbach

Group in good faith, but no claims are made for their future accuracy. Forward-looking

statements involve risks and uncertainties that tend to be difficult to predict and that do

not usually lie within Goldbach Group's sphere of influence, or that of persons working

with Goldbach Group. It should be noted that actual events and consequences may

differ from those expressed or contained in the forward-looking statements, or turn out

to be more negative than expressly or implicitly assumed or described in this

presentation. This presentation does not constitutes a recommendation to buy

Goldbach Group shares.

Disclaimer

Ordentliche Generalversammlung der Goldbach …...Source: KommTech Studie 2012, IGEM and...

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