Election of the Supervisory Board in the annual general meeting
The Supervisory Board of Tele Columbus AG pleads for a well-balanced composition of the controlling body
Berlin, 7 June 2019. In preparation of the election of the Supervisory Board at the annual general meeting on 21 June 2019 and with reference to the proposal with a list of own candidates submitted by United Internet AG on 31 May 2019, the Supervisory Board of Tele Columbus AG aims at finding a solution acceptable to all shareholders.
Many shareholders are concerned about the independence of the controlling body as well as an impending decline of representation of their interests and therefore fully support the list of candidates proposed by the Supervisory Board. The board shares their concerns and points out that two of the candidates proposed by United Internet are facing conflicts of interest in view of their functions in companies of the United Internet group. This fact as well as the block vote for their six candidates demanded by United Internet contradict the recommendations of the German Corporate Governance Code.
In order to duly consider the interests of all shareholders, the Supervisory Board reaffirms its list of candidates. However, the board declares its openness to increase the number of board members from six to nine and thus offer United Internet the opportunity to delegate three own candidates.
"With the help of its candidates the Supervisory Board would like to further drive the progressing transformation and repositioning of Tele Columbus AG. This includes the organic business development as well as a return to growth. Furthermore, the company has a valuable network infrastructure as well as long-term contracts with the housing industry which can be used for value-added options in the course of the expansion of fibre networks", states André Krause, Chairman of the Supervisory Board of Tele Columbus AG. "We are convinced that our proposal to increase the number of Supervisory Board members will be a solution satisfactory to all shareholders of the company and will ensure a well-balanced representation of all interests. This is an essential factor for the exploitation of the full value potential of the company."
The list of candidates proposed by the Supervisory Board of Tele Columbus AG for the election of the Supervisory Board as well as the list submitted by United Internet can be found on Tele Columbus website via the following link: https://www.telecolumbus.com/en/investor-relations/hauptversammlung-2019/
Tele Columbus AG is one of Germany's leading fibre network operators which reaches more than 3 million homes. Via its brand P?UR, the Company, offers high-speed internet including telephony and more than 250 TV channels. All of this via a digital entertainment platform that combines linear TV with video on demand entertainment. To its housing association partners the Tele Columbus Group offers tailored models of cooperation and state-of-the-art services such as telemetric and tenant portals. As a full-service partner for municipalities and regional utilities, the Company is actively supporting the fibre-based infrastructure and broadband internet expansion in Germany. For its business customers the Group offers carrier services and corporate solutions on its proprietary fibre network. Besides its headquarter in Berlin, the Company has locations in Hamburg, Leipzig, Ratingen and Unterföhring/Munich. Since January 2015, Tele Columbus AG is listed on the regulated market (Prime Standard) of the Frankfurt Stock exchange.
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