DGAP-News: Progress-Werk Oberkirch AG / Key word(s): AGM/EGM Progress-Werk Oberkirch AG: Annual General Meeting adopts all resolutions by a large majority 01.06.2016 / 08:00 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- - 70 percent of share capital present - Dividend increases from EUR 1.45 to EUR 1.55 - Composition of Supervisory Board changes - Company reconfirms 2016 outlook Oberkirch, June 1, 2016 - At yesterday's 93rd Ordinary Annual General Meeting of Progress-Werk Oberkirch AG, the Management Board reported on the key developments in the 2015 fiscal year. The Board's remarks centered on the Group's continued internationalization and its record new business volume of roughly EUR 600 million. The immense success can be attributed to the Group's comprehensive expertise in cost-efficient lightweight construction and global reach. The Management Board fully reconfirmed its outlook for the current 2016 fiscal year, which forecasts Group revenue of approximately EUR 410 million and Group EBIT excluding currency effects of EUR 20 million. With a majority of more than 99 percent of the share capital present, all proposals were almost unanimously adopted by the shareholders. The agenda items included the presentation of the adopted financial statements, the appropriation of profits, the discharge of the members of the Management Board and Supervisory Board, and the appointment of the auditor for the 2016 fiscal year. The Annual General Meeting also extended its sincere appreciation to Mr. Dieter Maier, who, after 27 years as the chairman of the Supervisory Board of Progress-Werk Oberkirch AG, retired from his position effective as of the close of the Annual General Meeting. Mr. Maier's successor, Mr. Karl M. Schmidhuber, was newly appointed to the Supervisory Board and will serve for the remainder of Mr. Maier's term. Mr. Schmidhuber is a former member of the Management Board and as of the close of the 2014 Annual General Meeting had resigned from the Company after a successful 20-year career at PWO. In the Supervisory Board meeting following the Annual General Meeting, Mr. Schmidhuber was elected as chairman of the Progress-Werk Oberkirch AG's Supervisory Board. 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 roughly 97-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". --------------------------------------------------------------------------- 01.06.2016 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 --------------------------------------------------------------------------- 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 --------------------------------------------------------------------------- 468131 01.06.2016