Corporate | 26 May 2011 16:50
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SMA Solar Technology AG / Key word(s): AGM/EGM
SMA Solar Technology AG Press Release Annual General Meeting of SMA Solar Technology AG approves dividend payout of EUR 3.00 per share – Full discharge granted to the Managing Board and Supervisory Board by a large majority – Dividend payout of EUR 3.00 per share authorized – Company founders Günther Cramer and Peter Drews step down from Managing Board and are elected to Supervisory Board – Günther Cramer voted chairman of Supervisory Board Niestetal, Germany, May 26, 2011 – At the 2011 Annual General Meeting of SMA Solar Technology AG (SMA/FWB: S92) in Kassel, Germany, shareholders granted full discharge to the Managing Board and Supervisory Board for the 2010 fiscal year with a clear majority of more than 99 percent. The remaining agenda items also passed with a large majority. Günther Cramer and Peter Drews, hitherto members of the Managing Board, were elected to the Supervisory Board as shareholder representatives. Pierre-Pascal Urbon succeeds Günther Cramer as CEO of SMA, in addition to maintaining his post as CFO.
The Annual General Meeting supported the proposal made by the Managing and Supervisory Boards and resolved to pay out a dividend of EUR 3.00 per qualifying bearer share. ‘SMA shares pay solid dividends and are thus highly attractive for shareholders with a long investment horizon,’ said Günther Cramer, the new chairman of SMA’s Supervisory Board. The dividend per share more than doubles that of the previous year (EUR 1.30 per share). The increase reflects the excellent results SMA achieved in 2010: sales of EUR 1.9 billion and operating profit (EBIT) of EUR 516.8 million. The dividend payout ratio is 29 percent of net profit. The depository banks will begin dividend payments on
As was previously announced, company founders Günther Cramer and Peter Drews stepped down from the Managing Board after 30 years as the company’s leaders. The change was effective with the close of the Annual General Meeting. The shareholders honored the outstanding achievement of the company’s founders with sustained applause. ‘Over the past 30 years, Günther Cramer and Peter Drews have built Germany’s most successful solar business and carefully planned the generation shift. In doing so, they have once again affirmed their extraordinary sense of dedication to the
The Annual General Meeting elected Günther Cramer and Peter Drews to the Supervisory Board by a large majority. They succeed Siegfried L. Drueker and Dr. Martin Hoppe-Kilpper, who resigned their posts on the Supervisory Board which was also effective at the end of the Annual General Meeting. Dr. Erik Ehrentraut thanked the departing members of the Supervisory Board for their positive contributions over the past year. The 12-member Supervisory Board of SMA provides equal representation of shareholders and employees. Günther Cramer and Peter Drews will join the existing members, Dr. Erik Ehrentraut, Dr. Winfried Hoffmann, Prof. (em.) Dr. Werner Kleinkauf, and Reiner Wettlaufer, in representing shareholder interests. Dr. Günther Häckl, Johannes Häde, Ulrich Meßmer, Alexander Naujoks, Joachim Schlosser and Mirko Zeidler will continue to represent the interests of employees. More than 600 shareholders attended the 2011 Annual General Meeting of SMA Solar Technology AG, and 84.6 percent of those with voting rights were present. SMA’s current shareholder structure is as follows: 29.15 percent free float, 25.20 percent Pool SMA Solar Technology AG, 7.24 percent Prof. (em.) Dr. Werner Kleinkauf, 7.05 percent Peter Drews, 7.05 percent Reiner Wettlaufer, 7.03 percent Günther Cramer, 5.76 percent Günther Cramer Foundation, 5.76 percent Peter Drews Foundation, and 5.76 percent Reiner Wettlaufer Foundation. The presentation given by the CEO at the Annual General Meeting, along with further information, can be found on SMA’s website at www.SMA.de/Hauptversammlung . In the meeting of the Supervisory Board following the Annual General Meeting, company founder Günther Cramer was elected as chairman and Dr. Erik Ehrentraut was elected deputy chairman.
About SMA
SMA Solar Technology AG
Press contact:
Investor Relations contact:
Julia Damm
Disclaimer:
This press release serves only as information and does not constitute an offer or invitation to purchase, hold, or sell any securities of SMA Solar Technology AG (the ‘Company’) or any present or future subsidiary of the Company (together with the Company, the ‘SMA Group’) nor should it form the basis of, or be relied upon in connection with, any contract to purchase or subscribe for any securities in the Company or any member of the SMA Group or commitment whatsoever.
End of Corporate News 26.05.2011 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: | SMA Solar Technology AG | |
| Sonnenallee 1 | ||
| 34266 Niestetal | ||
| Deutschland | ||
| Phone: | +49 (0)561 / 9522 – 0 | |
| Fax: | +49 (0)561 / 9522 – 100 | |
| E-mail: | info@sma.de | |
| Internet: | http://www.sma.de | |
| ISIN: | DE000A0DJ6J9 | |
| WKN: | A0DJ6J | |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart | |
| End of News | DGAP News-Service |
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