DGAP-News: Progress-Werk Oberkirch AG / Key word(s): AGM/EGM Progress-Werk Oberkirch AG: Annual General Meeting approves all resolutions with a large 20.05.2015 / 10:58 --------------------------------------------------------------------- - Almost 82 percent of share capital represented - Annual General Meeting resolves dividend payment of EUR 1.45 - International expansion proceeded as planned in 2014 - 2015 outlook confirmed Oberkirch, May 20, 2015 - Yesterday's 92nd Ordinary Annual General Meeting of Progress-Werk Oberkirch AG approved all resolutions with majorities from 98 to 100 percent of the share capital represented. The agenda included the presentation of the adopted financial statements, the appropriation of profits, the discharge of members of the Management and Supervisory Boards, the appointment of the auditor for fiscal year 2015, and resolutions to cancel the existing authorized capital, the creation of a new authorized capital, and the corresponding changes to the Articles of Association. Additionally, the Annual General Meeting approved changes to the Articles of Association relating to amendments to the Supervisory Board's compensation and the new securitization of the shares. At the Reithalle at the Kulturforum in Offenburg, PWO AG's Speaker of the Management Board, Dr. Volker Simon, explained the key developments of fiscal year 2014 to shareholders, shareholder representatives, and guests. The focus of his comments was on the Group's internationalization strategy, which it is pursuing consistently. Meanwhile, the Group achieves more than two-thirds of its revenue outside of Germany. The Group continues to expand its locations in the Czech Republic, China, and Mexico to further strengthen its global position. With regard to the current 2015 fiscal year, Dr. Simon confirmed the most recent outlook. The Group expects revenues of approximately EUR 400 million and an EBIT of roughly EUR 19 million. Progress-Werk Oberkirch AG The Management Board PWO company profile PWO is one of the world's leading developers and manufacturers of advanced metal components and systems in lightweight construction for automobile safety and comfort. The company has developed a unique knowledge in the forming and joining of metals over the course of its 95-year history since it was founded in 1919. The German location at Oberkirch today employs around 1,500 staff members. The Group is globally represented with further sites in China, Canada, Mexico, and the Czech Republic. It employs around 3,100 staff members worldwide. PW0 is a partner to the global automotive industry for the development and production of innovative products in the divisions of "Mechanical components for electrical and electronic applications", "Safety components for airbags, seats and steering" and "Components and subsystems for vehicle bodies and chassis". --------------------------------------------------------------------- 20.05.2015 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Progress-Werk Oberkirch AG Industriestraße 8 77704 Oberkirch Germany Phone: +49 (0)7802 84-0 Fax: +49 (0)7802 84-273 E-mail: [email protected] Internet: www.progress-werk.de ISIN: DE0006968001 WKN: 696800 Listed: Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich End of News DGAP News-Service --------------------------------------------------------------------- 359703 20.05.2015