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MarketScreener Homepage  >  Equities  >  Xetra  >  Tele Columbus AG    TC1   DE000TCAG172

TELE COLUMBUS AG

(TC1)
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Tele Columbus : The Supervisory Board of Tele Columbus AG pleads for a well-balanced composition of the controlling body

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06/07/2019 | 10:03am EDT

07.06.2019 / 15:10
The issuer is solely responsible for the content of this announcement.

PRESS RELEASE

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/

About us

Tele Columbus AG is one of Germany's leading fibre network operators which reaches more than 3 million homes. Via its brand PŸUR, 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.

Disclaimer

This release may contain forward-looking statements. These statements reflect the Company's current knowledge and expectations and projections about future events. By their nature, forward-looking statements involve a number of risks, uncertainties, assumptions and other factors that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. Such risks, uncertainties and assumptions may cause our actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements. Accordingly, investors are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this document.

This release contains references to certain non-GAAP financial measures, such as Normalized EBITDA and Capex, and operating measures, such as RGUs, ARPU, and Unique Subscribers calculations. These non-GAAP financial and operating measures should not be viewed in isolation as alternatives to measures of the Company's financial condition, results of operations or cash flows as presented in accordance with IFRS. The non-GAAP financial and operating measures used by the Company may differ from, and not be comparable to, similarly titled measures used by other companies.

All information contained in this release has been carefully prepared. However, no reliance may be placed for any purposes whatsoever on the information contained in this document or on its completeness. No representation or warranty, express or implied, is given by or on behalf of the Company or any of its directors, officers or employees or any other person as to the accuracy or completeness of the information or opinions contained in this document and no liability whatsoever is accepted by the Company or any of its directors, officers or employees nor any other person for any loss howsoever arising, directly or indirectly, from any use of such information or opinions or otherwise arising in connection therewith. The Company does not undertake any obligation to update or revise any information contained in this release, including forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:

Silke Bernhardt
Director Corporate Communications
Phone +49 (30) 3388 4177
silke.bernhardt@pyur.com
www.telecolumbus.com

Leonhard Bayer
Senior Director Investor Relations
Telefon +49 (30) 3388 1781
leonhard.bayer@telecolumbus.de
www.telecolumbus.com

07.06.2019 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

Disclaimer

Tele Columbus AG published this content on 07 June 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 07 June 2019 14:02:07 UTC

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Sales 2019 492 M
EBIT 2019 54,0 M
Net income 2019 -7,25 M
Debt 2019 1 420 M
Yield 2019 -
P/E ratio 2019 -53,6x
P/E ratio 2020 11,1x
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Number of Analysts 7
Average target price 2,38  €
Last Close Price 1,79  €
Spread / Highest target 68,0%
Spread / Average Target 33,2%
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Timm Degenhardt Chief Executive Officer
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