Ad hoc announcement pursuant to Art. 53 LR

Tornos Annual General Meeting approves all Board of Directors’ proposals

At the 2019 Annual General Meeting held on April 10, the shareholders of Tornos Holding Ltd. approved all proposals of the Board of Directors.

The shareholders of Tornos Holding Ltd. held their Annual General Meeting in Moutier on April 10, 2019. 43 shareholders were present, representing 14'739'927 shares or 74.15% of the share capital. The shareholders approved the annual report and financial statements for 2018 as well as the proposal to carry forward the balance sheet result to new account. The shareholders also approved the tax-free dividend of CHF 0.28 per share.

François Frôté, Michel Rollier and Walter Fust were reelected as members of the Board of Directors for a term of one year. The shareholders also confirmed François Frôté as Chairman of the Board of Directors and elected Till Fust to succeed Frank Brinken on the Board of Directors. PricewaterhouseCoopers AG, Neuchâtel, was confirmed as statutory and Group auditor for a further year. The shareholders also approved the remuneration report for the 2018 financial year, as well as the total remuneration awarded to the Board of Directors and General Management for the period to the 2020 Annual General Meeting.

Tornos started the new year with a very good order backlog. However, the recent geopolitical developments are causing considerable uncertainty, which makes it very difficult to formulate assessments and forecasts for 2019 at present. Nevertheless, the Tornos Group is sticking to its targets for 2019 and is confident of achieving good results in the current financial year too.