Annual Report 2002

5.9 Highest total compensation
The highest total compensation (including employee contributions
to AHV), which was paid by VP Bank to a single
member of the Board of Directors in the 2002 financial
year, amounted to TCHF 338 in addition to an allotment of
533 bearer shares valued at a total of TCHF 80.
page 44 | vp bank | annual report 2002
6. Shareholders’ participation
6.1 Voting-rights and representation restrictions
Each registered and each bearer share of VP Bank AG,
regardless of the respective par value, is entitled to one
vote at the company’s annual general meeting of shareholders.
All shareholders may either attend in person or
have their shares represented by some other shareholder
by force of a written power of attorney (proxy). The company
has enacted no voting-rights restrictions or statutory
group clauses.
6.2 Statutory quorums
Amendments to the company’s articles of incorporation
with regard to a change in the relationships of bearer
shares to registered shares (Art. 4 para. 2 of the articles of
incorporation), as well as to the provisions governing the
limitation on entry of registered shares into the company’s
share register (Art.7 para. 2 of the articles of incorporation)
require the approval of at least two-thirds of all outstanding
VP Bank voting rights.
6.3 Convocation of the general meeting of
shareholders
The convocation of a general meeting of shareholders
occurs in accordance with valid legal provisions and the
conditions laid down in Art. 11 of the company’s articles
of incorporation.