Grammer : Dividend of EUR 0.75 per share approved at Grammer AG's Annual General Meeting
July 12, 2019 at 08:30 am EDT
Share
DGAP-News: Grammer AG / Key word(s): AGM/EGM
Dividend of EUR 0.75 per share approved at Grammer AG's Annual General Meeting
12.07.2019 / 14:28
The issuer is solely responsible for the content of this announcement.
Dividend of EUR 0.75 per share approved at Grammer AG's Annual General Meeting
Amberg, July 12, 2019 - The shareholders of Grammer AG today voted on the motions submitted by the Executive Board and the Supervisory Board at this year's Annual General Meeting. In particular, the distribution of a dividend of EUR 0.75 per share was approved by a large majority. Likewise, a large majority of the shareholders voted in favor of ratifying the actions of the Executive Board and the Supervisory Board in 2018 and once again elected Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft, Nuremberg, as the independent auditors for 2019. The Annual General Meeting postponed a vote on the creation of new authorized capital with the option of partially excluding the shareholders' preemptive subscription rights until a future Annual General Meeting. This was in response to the request of the majority shareholder, who, as a result of the indirect transfer of its Grammer shareholding to Ningbo Jifeng Auto Parts Co., Ltd. is dependent on the grant of approvals from the Chinese supervisory authorities. A resolution on the authorization of authorized capital would interfere with the current approval procedure, or at least delay it significantly. This would not be in Grammer's interest in view of the effort involved.
More than 86 percent of the voting share capital was represented at Grammer AG's Annual General Meeting, thus exceeding the previous year's record percentage.
"2018 as well as 2019 to date have been marked by major challenges facing the entire automotive industry both at the sector and macroeconomic level. Grammer AG has held its ground in this difficult market environment but is also feeling the economic impact. Our organic growth in 2018 in the automotive segment was somewhat slower than in the previous year. However, with the distribution of the dividend, we are acknowledging the Group's strong position and allowing shareholders to participate in the Company's success," said Manfred Pretscher, Chief Executive Officer of Grammer AG.
Company profile
Located in Amberg, Germany, Grammer AG specializes in the development and production of components and systems for automotive interiors as well as suspended driver and passenger seats for onroad and offroad vehicles.
In the Automotive Division, we supply headrests, armrests, center console systems, high-quality interior components, operating systems and innovative thermo-plastic solutions to premium automakers and automotive system suppliers.
The Commercial Vehicles Division comprises seats for the truck and offroad seat segments (tractors, construction machinery, forklifts) as well as train and bus seats.
With over 15,000 employees, Grammer operates in 19 countries around the world. Grammer shares are listed in the Prime Standard and traded on the Frankfurt and Munich stock exchanges via the electronic trading system Xetra.
Contact:
GRAMMER AG
Boris Mutius
Phone: 0049 9621 66 2886
investor-relations@grammer.com
12.07.2019 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:
Grammer AG
Georg-Grammer-Str. 2
92224 Amberg
Germany
Phone:
+49 (0)9621 66-0
Fax:
+49 (0)9621 66-1000
E-mail:
investor-relations@grammer.com
Internet:
www.grammer.com
ISIN:
DE0005895403, DE0005895403
WKN:
589540, 589540
Listed:
Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange
GRAMMER AG is a Germany-based company that is active in the automobiles and auto parts sector. The Company develops and manufactures components and systems for automobile interiors, as well as driver and passenger seats. It is organized into two business segments: Automotive and Seating Systems. The Automotive segment supplies headrests, armrests, and center consoles, and the Seating Systems segment provides driver seats for trucks and off-road vehicles, including tractors and agricultural machinery, construction machinery and fork-lifts, as well as driver and passenger seating solutions for trains, coaches and inter-urban buses. The Company operates approximately 40 product and distribution sites in Europe, North America, Latin America, Asia and Africa.
GRAMMER AG 
