Notice for the Annual General Meeting 2023

Munich, May 9, 2023 - LUDWIG BECK AG (ISIN DE0005199905) held its Annual General Meeting in virtual form on May 9, 2023. Shareholders and shareholder representatives had the opportunity to follow the event via video stream on a provided online portal. 3.2 million votes, or 87.5% of the share capital, were represented. All items on the agenda received very high levels of approval.

The Executive Board once again looked back on the year 2022. At the beginning of the year, consumer sentiment was far from normal because of the high levels of COVID-19 infections and the onset of the war in Ukraine. Over the summer months, however, a positive trend could be observed, before consumer sentiment deteriorated again in the last quarter.

LUDWIG BECK generated gross sales of € 83.8m at group level (previous year: € 66.0m).

Regarding the individual agenda items:
 

Dividend:
The net loss of LUDWIG BECK AG for the past fiscal year was € -0.6m due to the general economic environment. This was fully offset by withdrawals from the revenue reserves. The balance sheet profit of LUDWIG BECK AG for the 2022 fiscal year thus amounted to € 0. For this reason, the Executive Board and Supervisory Board were unable to propose a dividend distribution to the Annual General Meeting.

Other items on the agenda:
The Executive Board and Supervisory Board were discharged and BTU Treuhand GmbH, Wirtschaftsprüfungsgesellschaft, Munich, was appointed as auditor for the 2023 fiscal year. The remuneration report with the disclosures on the remuneration of the Executive Board and Supervisory Board members was also approved.

Voting results for the agenda items in detail:

Agenda item 2 "Discharge of the members of the Executive Board":

Agenda item 2a Christian Greiner: Yes-votes: 1,961,189, No-votes: 306,773. The administration's proposal to discharge the Executive Board was thus accepted with 86.47 %.

Agenda item 2b Jens Schott: Yes-votes: 1,961,029, No-votes: 306.733. The administration's proposal to discharge the Executive Board was thus accepted with 86.47 %.

Agenda item 3 "Discharge of the members of the Supervisory Board":

Agenda item 3a Dr. Bruno Sälzer: Yes-votes: 2,926,828, No-votes: 305,733. The administration's proposal to discharge the Supervisory Board was thus accepted with 90.54 %.

Agenda item 3b Sandra Pabst: Yes-votes: 2,926,828, No-votes: 305,733. The administration's proposal to discharge the Supervisory Board was thus accepted with 90.54 %.

Agenda item 3c Clarissa Käfer: Yes-votes: 2,926,698, No-votes: 305,813. The administration's proposal to discharge the Supervisory Board was thus accepted with 90.54 %.

Agenda item 3d Josef Schmid: Yes-votes: 2,926,738, No-votes: 305,773. The administration's proposal to discharge the Supervisory Board was thus accepted with 90.54 %.

Agenda item 3e Michael Neumaier: Yes-votes: 2,926,828, No-votes: 305,733. The administration's proposal to discharge the Supervisory Board was thus accepted with 90.54 %.

Agenda item 3f Michael Eckhoff: Yes-votes: 2,926,828, No-votes: 305,733. The administration's proposal to discharge the Supervisory Board was thus accepted with 90.54 %.

Agenda item 4 "Election of the auditor for the fiscal year 2023":
Yes votes: 2,927,392, No votes: 305,672. The Supervisory Board's proposal to elect BTU Treuhand GmbH, Wirtschaftsprüfungsgesellschaft, Munich, as the auditor for the fiscal year 2023 was thus accepted with 90.55 %.

Agenda item 5 "Approval of the remuneration report":
Yes-votes: 2,926,243, No-votes: 305,771. The administration's proposal to approve the remuneration report was thus accepted with 90.54 %.

Agenda item 6 a) "Amendment of section 13 of the Articles of Association to authorize the Executive Board to provide for the holding of virtual general meetings".
Yes votes: 2,924,311, no votes: 309,252. The administration's proposal was thus accepted with 90.44 %.

Agenda item 6 b) "Amendment of section 13 of the Articles of Association to enable the participation of Supervisory Board members in General Meetings by means of video and audio transmission".
Yes votes: 2,924,766, no votes: 308,787. The administration's proposal was thus accepted with 90.45 %.

Agenda item 7 "Elections to the Supervisory Board":

Agenda item 7a: Yes-votes: 2,928,531, No-votes: 171. The administration's proposal for the election of Dr Bruno Sälzer as member of the company's Supervisory Board was thus accepted with 99.99 %.

Agenda item 7b: Yes-votes: 3,231,902, No-votes: 317. The administration's proposal for the election of Mr Sebastian Hejnal as member of the company's Supervisory Board was thus accepted with 99.99 %.

Agenda item 7c: Yes-votes: 2,928,595, No-votes: 304,887. The administration's proposal for the election of Ms Clarissa Käfer as member of the company's Supervisory Board was thus accepted with 90.57 %.

Agenda item 7d: Yes-votes: 2,927,292, No-votes: 304,937. The administration's proposal for the election of Ms Sandra Pabst as member of the company's Supervisory Board was thus accepted with 90.57 %.

Agenda item 7e: Yes-votes: 2,926,403, No-votes: 305,726. The administration's proposal for the election of Dr Moritz Freiherr von Hutten zum Stolzenberg as substitute member of the company's Supervisory Board was thus accepted with 90.54 %.

 

Further information on the individual voting results can be found on the company's website at http://kaufhaus.ludwigbeck.de under Company/Investor Relations in the Corporate Events/Annual General Meeting section.
 

Contact Investor Relations:
LUDWIG BECK AG
A. Deubel
t: +49 89 23691 - 745
f: +49 89 23691 - 600

[email protected]