Dear minority shareholder of Grundfos Holding A/S
Grundfos is a company where traditions matter. For the past many years, the Annual General Meeting of Grundfos Holding A/S has been held on the last Friday of April. This year that is the 24th of April 2020.
In Denmark and the rest of the world we are battling COVID-19 and the restrictions it puts on our business. In order to control the spread of infection with COVID-19, the Danish Minister for Health has issued an executive order limiting assemblies with more than 10 participants, which impedes our ability to conduct the Annual General Meeting in 2020 as usual.
Grundfos takes its responsibility for the joint safety of all shareholders and employees seriously in light of COVID-19 and the Danish authorities’ measures to control the risk of spreading the infection. For that reason, the Board of Directors of Grundfos Holding A/S has decided to conduct the Annual General Meeting of the company this year as tradition prescribes on the 24th April 2020, but allow all shareholders to participate and exercise their shareholders’ rights at the General Meeting electronically, instead of attending the General Meeting in person.
The Board of Directors will encourage the shareholders to limit their physical participation as much as possible and to attend the General Meeting electronically, giving the ability to follow and participate by webcast. In addition, the Board of Directors of the company will take further measures to ensure compliance with applicable rules, as following:
- Reduction and limitation of the number of mandatory representatives of management, the chair of the meeting, minute taker, access control, advisors, sound and light staff and technicians needed to run the General Meeting;
- Provide adequate availability to several individual rooms on the location and make a video link to the main room available in each separate room where no more than 10 persons are allowed access; and
- Inform the local authorities in respect of carrying out the General Meeting, including the approach regarding facilities and availability of premises, in order to ensure that the meeting is conducting lawfully.
Please feel free to reach out to me or Andreas F. Brandt with questions or comments in this respect.
Chairman of the Board of Directors, Grundfos Holding A/S