Corporate | 13 May 2011 15:19
|
Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG / Key word(s): AGM/EGM
Press release on the Annual General Meeting 2011 Venue: Hotel Hilton München Park, Am Tucherpark 7, 80538 Munich Munich, May 13, 2011 – LUDWIG BECK AG (ISIN DE 0005199905) held its Ordinary Annual General Meeting on May 12, 2011 attended by nearly 600 shareholders and shareholders' representatives who represented approximately 80 % of the share capital and thus 2,965,442 votes. All agenda items met with nearly 100 % approval. The Executive Board once again looked back to the record year 2010 in which the LUDWIG BECK Group was able to generate results from ordinary business activities (EBT) of EUR 9.9m thus clearly outperforming the results of the previous year (EUR 6.4m). The Annual General Meeting approved the proposal on the appropriation of the balance sheet profit of LUDWIG BECK AG in the amount of approximately EUR 3.0m submitted by the Executive Board and the Supervisory Board. Accordingly, shareholders will receive a EUR 0.35 dividend per share. All in all, the distribution of approximately EUR 1.3m for 3,695,000 dividend-bearing shares was resolved nearly 100 %. The Executive Board and the Supervisory Board were discharged and the other agenda items were approved by a very large majority as well. BTU Treuhand GmbH, Wirtschaftsprüfungsgesellschaft, Munich, was appointed as auditor for the fiscal year 2011. 'According to our key financial ratios the fiscal year 2010 was the most successful year in the company's history', Dieter Münch, CFO at LUDWIG BECK AG stated. 'It is our goal to treat shareholders and ourselves to a further sales and earnings increase on the occasion of our company's 150 th anniversary', Münch concluded. Election to the Supervisory Board Member of the Supervisory Board Dr. Lutz Helmig resigned from his office with effect as of the conclusion of the Annual General Meeting 2011. Regarding the new election of a shareholders' representative, the Annual General Meeting approved the proposal of the Supervisory Board and elected Ms. Edda Kraft to the Supervisory Board of LUDWIG BECK as shareholders' representative. Positive forecast confirmed The management of LUDWIG BECK AG has confirmed its expectations for the current fiscal year 2011 and anticipates earnings before taxes (EBT) to reach between EUR 9.0m and EUR 11.0m and is very pleased by the current sales and earnings development as of today. The voting on the individual agenda items produced the following results:
Agenda item 2 'Appropriation of balance sheet profit':
Further information on the detailed voting results is available at LUDWIG BECK AG's website www.ludwigbeck.de.
Investor Relations contact:
Group accounting contact:
End of Corporate News 13.05.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
| Language: | English | |
| Company: | Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG | |
| Marienplatz 11 | ||
| 80331 München | ||
| Deutschland | ||
| Phone: | +49 (0)89 2 36 91-0 | |
| Fax: | +49 (0)89 2 36 91-600 | |
| E-mail: | info@ludwigbeck.de | |
| Internet: | www.ludwigbeck.de | |
| ISIN: | DE0005199905 | |
| WKN: | 519990 | |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard), München; Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart | |
| End of News | DGAP News-Service |
|
|
| 124657 13.05.2011 |