13.06.2018
Grammer AG DE0005895403
DGAP-News: All boards' motions adopted at Grammer AG's annual general meeting; dividend of EUR 1.25 per share approved
DGAP-News: Grammer AG / Key word(s): AGM/EGM
All boards' motions adopted at Grammer AG's annual general meeting; dividend
of EUR 1.25 per share approved
13.06.2018 / 20:13
The issuer is solely responsible for the content of this announcement.
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All boards' motions adopted at Grammer AG's annual general meeting; dividend
of EUR 1.25 per share approved
Amberg, June 13, 2018 - The shareholders of Grammer AG have accepted the
proposal submitted by the Executive Board and the Supervisory Board, passing
a resolution to approve a dividend distribution of EUR 1.25 per share at
today's annual general meeting. Over 71 percent of the voting-entitled
capital was represented at Grammer AG's annual general meeting, thus
exceeding the previous year's record percentage.
"Once again, we would like to allow our shareholders to participate
substantially in our Company's success this year. At EUR 1.25 per share, the
dividend for 2017 comes very close to the previous year's figure. The
dividend proposal is based on the Company's economic performance in the
previous year," explained Hartmut Müller, Chief Executive Officer of Grammer
AG, in his speech to the shareholders.
Prior to the voting process, the Executive Board presented to the
shareholders the Company's figures for 2017, outlining its performance in
the current year. Grammer AG's economic position remains favorable and is
proceeding according to plan. In particular, Chief Executive Officer Hartmut
Müller provided details on the acquisition in May 2018 of US company Toledo
Molding & Die Inc., which was the Company's largest takeover to date. He
also described at length the business combination agreement that had been
entered into with Ningbo Jifeng and, related to this, the planned takeover
bid by Grammer AG's Chinese partner, which is also its largest shareholder.
"Grammer will be gaining in Ningbo Jifeng a strong and responsible anchor
shareholder that fully supports our Company's strategy. The agreement
contains legally binding commitments providing a long-term and successful
basis for Grammer's future and safeguards its independence and future
development," says Hartmut Müller.
A further item of the agenda was the approval by the shareholders of the
restructured remuneration system for the Executive Board. The proposal for a
new remuneration system for the members of the Executive Board was also duly
accepted by the shareholders at the annual general meeting. Under the new
remuneration system, which applies to all management staff at Grammer,
remuneration is also based on the Company's profitable growth, an
improvement in capital efficiency and an increase in shareholder value. For
this reason, it is substantially more transparent and more
performance-oriented than the previous remuneration system.
A large majority of shareholders voted to ratify the actions of the
Executive Board and the Supervisory Board in 2017. Prof. Dr.-Ing. Birgit
Vogel-Heuser, Director of the Institute of Automation and Information
Systems at the Technical University of Munich, was elected to the
Supervisory Board, after previously being appointed to the Supervisory Board
in a court order on July 21, 2017. Other resolutions included the election
of Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft, Nuremberg, as
statutory auditors for 2018.
Company profile
Located in Amberg, Germany, Grammer AG specializes in the development and
production of components and systems for automotive interiors as well as
suspension driver and passenger seats for onroad and offroad vehicles.
In the Automotive Division, we supply headrests, armrests, center console
systems and high-quality interior components and operating systems to
premium automakers and automotive system suppliers. The Commercial Vehicle
Division comprises seats for the truck and offroad seat segments (tractors,
construction machinery, forklifts) as well as train and bus seats.
With 13,000 employees, Grammer operates in 19 countries around the world.
Grammer shares are listed in the SDAX and traded on the Frankfurt and Munich
stock exchanges via the electronic trading system Xetra.
Contact:
GRAMMER AG
Ralf Hoppe
Phone: 0049 9621 66 2200
[email protected]
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13.06.2018 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.
Archive at www.dgap.de
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Language: English
Company: Grammer AG
Georg-Grammer-Str. 2
92224 Amberg
Germany
Phone: +49 (0)9621 66-0
Fax: +49 (0)9621 66-1000
E-mail: [email protected]
Internet: www.grammer.com
ISIN: DE0005895403, DE0005895403
WKN: 589540, 589540
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Munich;
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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695269 13.06.2018
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