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General meeting of TLG IMMOBILIEN accepts proposals - changes in the Supervisory Board

DGAP-News: TLG IMMOBILIEN AG / Key word(s): AGM/EGM/Real Estate

22.05.2019 / 13:25
The issuer is solely responsible for the content of this announcement.

General meeting of TLG IMMOBILIEN accepts proposals - changes in the Supervisory Board


- Dividend increase of 11% year-on-year approved, now EUR 0.91 per share

- Klaus Krägel, Ran Laufer and Jonathan Lurie elected as members of the Supervisory Board

- Sascha Hettrich is now the Chairperson of the Supervisory Board

Berlin, 22 May 2019 - Significant majorities of the shareholders of TLG IMMOBILIEN AG (ISIN: DE000A12B8Z4) accepted most of the proposals made by the management at the general meeting of the company on 21 May 2019:

With the backing of 99.9993% of the share capital with voting rights present, the general meeting accepted the proposed appropriation of the net retained profits of EUR 95.6 m from the 2018 financial year. In line with this resolution, a total of around EUR 94.1 m will be paid to the shareholders in the form of a dividend. This equates to EUR 0.91 per qualifying no-par value share and therefore represents an 11% increase in the dividend compared to the previous year (2018 dividend: EUR 0.82). The remaining EUR 1.5 m from the net retained profits will be carried forward as profit. As the entire dividend will be paid from the contribution account for tax purposes in the sense of Sec. 27 of the German Corporation Tax Act (KStG), it will be paid without deducting withholding tax or the solidarity surcharge and will not result in taxable income from capital assets in the sense of Sec. 20 (1) line 1 no. 1 of the German Income Tax Act (EStG).

Additionally, with a 98.1324% majority of the share capital with voting rights in attendance, the general meeting resolved to pay future dividends either in cash, in the form of shares in TLG IMMOBILIEN AG or as a combination of the two, at the discretion of each shareholder (a scrip dividend). To this end, the share capital of the company can be increased by up to EUR 10.0 m once or multiple times through the issuance of up to 10.0 m new no-par value shares in exchange for contributions in kind.

The actions of the members of the Supervisory Board and Management Board in the 2018 financial year were formally approved by the general meeting in individual votes.

Klaus Krägel and Jonathan Lurie were elected as members of the Supervisory Board with majorities of 87.2034% and 87.5664% of the share capital with voting rights in attendance respectively. Additionally, the shareholder Ouram Holding had Ran Laufer nominated for election to the Supervisory Board at the general meeting. Ran Laufer was elected to the Supervisory Board with 81.3253% of the share capital with voting rights in attendance. The three men succeed Dr Claus Nolting, who stepped down from the Supervisory Board with effect from 31 December 2018, as well as Michael Zahn and Dr Michael Bütter whose terms of office on the Supervisory Board ended at the end of the general meeting in 2019. Furthermore, there is a vacant seat on the board due to the resignation of Stefan E. Kowski on 15 May 2019. Sascha Hettrich has been named the new Chairperson of the Supervisory Board by the board.

With a 99.6876% majority of the share capital with voting rights in attendance, the general meeting appointed the Berlin office of Ernst & Young Wirtschaftsprüfungsgesellschaft GmbH to audit the financial statements and consolidated financial statements for the 2019 financial year, carry out an auditor's review of the half-year financial report for 2019 and audit other pieces of financial information throughout the year.

With a 96.8459% majority of the share capital with voting rights in attendance, the general meeting authorised the company to purchase its own shares up to the value of 10% of its share capital in future in order to continue facilitating the flexible acquisition and use of treasury shares. This replaces the previous authorisation which was set to expire in September 2019.

'As the 2018 financial year was a successful one, we can offer our shareholders attractive returns whilst reinforcing the financial foundations for the continued success of TLG IMMOBILIEN at the same time. Now, with the broad support of our shareholders, we have paved the way for our future success at the general meeting', remarks Gerald Klinck, CFO of TLG IMMOBILIEN, on the outcome of the general meeting.

'Over the past few months, we have systematically implemented the adjusted strategy of TLG IMMOBILIEN. We pressed on with our development of existing space, strategically expanded our portfolio and, among other measures, disposed of non-strategic properties from our retail portfolio. We will continue to pursue this strategy over the course of the 2019 financial year and in doing so strengthen the growth of the company', explains Jürgen Overath, COO of TLG IMMOBILIEN.

The Management Board would like to thank the departing Supervisory Board members Michael Zahn and Dr Michael Bütter for the engaging and successful work they have done for the company and wishes them all the best for the future in both a professional and private capacity. At the same time, Gerald Klinck and Jürgen Overath warmly welcome the newly elected Supervisory Board members Klaus Krägel, Ran Laufer and Jonathan Lurie and look forward to working with them. They also congratulate Sascha Hettrich as the newly appointed Chairperson of the Supervisory Board.

All documents of relevance to the 2019 general meeting will be published on the website of the company shortly: > Investor Relations > General Meeting



Christoph Wilhelm
Corporate Communications

Phone: +49 30 2470 6355
E-mail: [email protected]
Sven Annutsch
Investor Relations

Phone: +49 30 2470 6089
E-mail: [email protected]


For over 25 years, the listed company TLG IMMOBILIEN AG has owned and rented out commercial properties in selected promising locations in Germany. The company continuously develops its portfolio and actively generates value through strategic investments and selected property acquisitions. As at 31 December 2018, its portfolio contains properties worth in excess of EUR 4.1 bn. As at the same reporting date, the adjusted EPRA Net Asset Value per share amounted to EUR 26.67. The portfolio comprises office properties in cities including Berlin, Dresden, Frankfurt/Main, Leipzig and Rostock. It also contains a regionally diversified portfolio of retail properties, primarily in the neighbourhood shopping segment, in promising micro-locations as well as seven hotels in top central locations. The properties of TLG IMMOBILIEN AG stand out not only due to their excellent locations but also because of their long-term rental or lease agreements. Its highly qualified employees guarantee extensive local market expertise at its individual locations.

This publication contains forward-looking statements based on current views and assumptions of TLG IMMOBILIEN AG's management and made to the best of knowledge. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause TLG IMMOBILIEN AG's revenues, profitability or the degree to which it performs or achieves its targets, to materially deviate from what is explicitly or implicitly stated or described in this publication. Therefore, persons who obtain possession of this publication should not rely on such forward-looking statements. TLG IMMOBILIEN AG accepts no guarantee or responsibility regarding such forward-looking statements and will not adjust them to future results or developments.

22.05.2019 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.

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