DGAP-News: OVB Holding AG / Key word(s): AGM/EGM Michael Rentmeister: 'Overregulation of financial advisory services will lead to old-age poverty' 03.06.2015 / 16:25 --------------------------------------------------------------------- Michael Rentmeister: "Overregulation of financial advisory services will lead to old-age poverty" - OVB 2014 - Strong balance sheet throughout Europe - Dividend increase resolved - Specific proposals for a clear overview of the need for private pensions Cologne, 3 June 2015 - Speaking in his usual candid style to shareholders, Michael Rentmeister, CEO of OVB Holding, criticised the excess regulation of the financial services industry in many European countries. "We absolutely believe that further regulations and laws will result in a steady deterioration of the pension situation throughout Europe, not just for low-earners and the poorly-educated, but also for the well-educated middle classes, i.e. around 80% of the population." Overregulation in the financial advisory segment, Rentmeister continued, will lead to more bureaucracy, higher complexity, additional costs, and, most importantly, will further reduce people's motivation to accumulate savings. Thus, Rentmeister spoke in favour of stopping all pending laws that include any form of additional regulation for product providers and brokers. He explained in detail why financial brokers perform precisely the social policy role that governments have long failed at. Rentmeister is primarily committed to improving people's savings options with "more net from the gross" and the convenient, uniform promotion of pension op-tions that are limited to a few products. He noted OVB's firm conviction that an economically sound brokerage industry is essential for financial consulting services to be customer-friendly. Thus, it will con-tinue to make suggestions for deregulation instead of simply welcoming new regu-lations. At the same time, OVB favours initiatives that mean greater transparency for consumers, such as uniform, standard product information. Review of the 2014 financial year, Q1/2015 and outlook for 2015 Following a profitable year in 2014, OVB remains on the road to growth in 2015. The internationally focused Group significantly increased earnings before interest and taxes (EBIT) year-on-year by 36.0% to EUR2.2 million. For the 2015 financial year, OVB anticipates a slight increase in operating earnings. At a minimum, it wants to match the better-than-expected earnings from 2014. Annual General Meeting passes resolutions with a large majority With attendance of 96.99%, the motions by the Executive Board and Supervisory Board were adopted unanimously or by a large majority. This included, for instance, the payment of a higher dividend (increase of 0.05 euro cents to 0.60 euro cents). The shareholders also authorised the Executive Board to buy back up to 300,000 of the treasury shares by 10 June 2020. Dr Alexander Tourneau, member of the Board of Directors of Basler Versicherungen, Bad Homburg, was newly appointed to the Supervisory Board as the successor to Jan De Meulder. About the OVB Group The OVB Group is one of Europe's leading financial service providers. Since found-ing in 1970, customer-oriented consulting for private households with regard to asset protection, asset building, pension plans and real estate acquisition has been the focus of OVB's business activities. OVB currently advises 3.2 million customers across Europe, working in cooperation with over 100 renowned product partners. OVB is presently active in 14 countries, with approximately 5,200 full-time financial consultants working for the Group. In 2014, OVB Holding AG and its subsidiaries generated total sales commission of EUR214.0 million and EBIT of EUR12.3 million. OVB Holding AG has been listed on the Frankfurt Stock Exchange (Prime Standard, ISIN DE0006286560) since July 2006. --------------------------------------------------------------------- 03.06.2015 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: OVB Holding AG Heumarkt 1 50667 Köln Germany Phone: +49 221 2015 - 0 Fax: +49 221 2015 - 264 E-mail: [email protected] Internet: www.ovb.eu ISIN: DE0006286560 WKN: 628656 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 365211 03.06.2015