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VIRTUAL ANNUAL GENERAL MEETING OF KAP AG APPROVES ALL PROPOSALS

·3-min read

DGAP-News: KAP AG / Key word(s): AGM/EGM
23.09.2020 / 13:00
The issuer is solely responsible for the content of this announcement.

VIRTUAL ANNUAL GENERAL MEETING OF KAP AG APPROVES ALL PROPOSALS

Fulda, 23 September 2020 - The shareholders of KAP AG, a publicly listed, mid-sized industrial group, yesterday approved all the draft resolutions at the 34th Annual General Meeting. Due to the COVID-19 pandemic, the Annual General Meeting took place virtually for the first time. KAP AG's shareholders were able to vote on the agenda items via the shareholders' portal. All resolutions were approved by the Annual General Meeting with large majorities. Around 85% of the share capital with voting rights was represented.

Among others, the joint proposal by the Management Board and Supervisory Board on the appropriation of profits, namely to carry forward the profit in full to new account, was approved. The Group had already announced its proposal to suspend the dividend at the end of March this year. The Management Board and Supervisory Board took this decision due to the decrease in sales and earnings in the 2019 financial year and the high level of uncertainty following the outbreak of the pandemic. The Annual General Meeting's other resolutions included, among other things, the discharge of the Management Board and Supervisory Board, the election of the auditors of the financial statements and the consolidated financial statements for the 2020 financial year, and amendments to the articles of association.

"We would like to thank our shareholders for their trust in us. Overall, we are confident about the future. In the first half of the current financial year, we showed that our strategic cornerstones are the right ones. Thanks to our diversification, we succeeded in achieving good operating results despite the collapse of the global economy", emphasised Eckehard Forberich, spokesman of the Management Board of KAP AG, in his speech to shareholders.

KAP AG has published the detailed results of the voting on the agenda items in the Investor Relations section of the website on:
https://www.kap.de/en/investor-relations/general-meeting/agenda-documents



Contact

KAP AG
Dr. Alexander Riedel (CFO)
E: a.riedel@kap.de
T: +49 661 103 590

Kirchhoff Consult AG
Nicole Schüttforth
E: nicole.schuettforth@kirchhoff.de
T: +49 40 609 186 64
 

About KAP AG

KAP AG is a mid-sized German industrial group with approximately 3,000 employees. We specialise in engineered products, flexible films, IT/services, surface technologies and precision components, developing innovative industrial products and technological solutions for international companies from trade and industry. As a result of our dedicated long-term business strategy, we serve a number of attractive niche markets with sustainable growth potential. Our focus is on developing market-leading, specialised, and high-margin industrial product lines within these segments. As a reliable partner in the context of succession planning, we also acquire attractively positioned medium-sized family companies with a view to strengthening our existing segments or developing new ones. Holders of KAP shares benefit from our company's growth trajectory and continuous dividend policy.


23.09.2020 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:

KAP AG

Edelzeller Straße 44

36043 Fulda

Germany

Phone:

06611030

Fax:

0661103830

E-mail:

office@kap.de

Internet:

www.kap.de

ISIN:

DE0006208408

WKN:

620840

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange

EQS News ID:

1135609


 

End of News

DGAP News Service

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