Corporate Governance Shareholders’ rights Details of share capital are given in the Group financial statements (see note (19)). In principle, resolutions of the General Meeting are passed by absolute majority of the voting shares represented. A majority of at least three quarters of the voting shares represented at the General Meeting is required for: an amendment to the Articles of Association, an increase in the share capital, the buyback of shares, the restriction or cancelation of the subscription right, mergers with other companies, transformation of the company into another legal form or the dissolution of the company. Auditors The examinations of the Group financial statements and the financial statements of Hilti Corporation are conducted by PricewaterhouseCoopers AG, St. Gallen (leading auditor). The company was reappointed in March 2020 for the 2020 year. The auditor-in-charge has been responsible for the mandate from 2019 following a partner rotation after the 2018 year. In respect of the 2020-year, audit fees of PricewaterhouseCoopers amount to CHF 2.2 million whereas the non-audit fees amount to CHF 0.2 million. Total audit fees of the Group, including audits not performed by PricewaterhouseCoopers, amount to CHF 2.6 million. 2020 Financial Report | 93