DGAP-News: TLG IMMOBILIEN AG / Key word(s): AGM/EGM/Real Estate
- Proposals of the Management and Supervisory Boards adopted with significant majorities
- Dividend increased by around 11% to EUR 0.80 per no-par value share with dividend entitlements compared to the previous year
- Management Board authorised to implement additional capital-related measures
- Mr Frank D. Masuhr elected to the Supervisory Board
Berlin, 24 May 2017 - The Annual General Meeting of TLG IMMOBILIEN AG held yesterday supported the growth strategy chosen by the company. The shareholders in attendance adopted all of the proposals of the Management Board and Supervisory Board with significant majorities. Besides the regular matters relating to the end of the 2016 financial year, the resolutions in question concerned, for example, the raising of capital in order to finance the future growth of TLG IMMOBILIEN AG.
With the approval of 99.9997% of the voting registered capital present, the General Meeting accepted the proposal concerning the appropriation of the retained profits from the 2016 financial year of around EUR 60.8 m. In line with this resolution, a total amount of around EUR 59.3 m will be paid to the shareholders in the form of a dividend. This corresponds to EUR 0.80 per no-par value share with dividend entitlements and is around 11% higher than the dividend paid in the previous year (EUR 0.72 per no-par value share with dividend entitlements). The remaining EUR 1.5 m will be carried forward as profit. The dividend will be paid in full from the tax reserve account in the sense of § 27 of the German Corporate Tax Act (KStG). Therefore, no capital gains tax or solidarity surcharge will be deducted and no taxable income from capital assets will result according to § 20 para. 1 line 1 no. 1 of the German Income Tax Act (EStG).
With significant majorities of 99.9% and 98.8% of the voting registered capital of the company represented at the General Meeting, the actions of the members of the Management Board and Supervisory Board in the 2016 financial year were formally approved.
With a 99.8% majority of the voting registered capital present, the Berlin office of Ernst & Young Wirtschaftsprüfungsgesellschaft GmbH was once again appointed to audit the annual and consolidated financial statements for the 2017 financial year and to review the half-yearly financial report 2017.
Furthermore, Mr Frank D. Masuhr was appointed to the Supervisory Board with a majority of 98.5% of the voting registered capital present. Mr Masuhr was judicially appointed as the successor of Mr Alexander Heße who left the board of his own volition as at the General Meeting in 2016.
Additionally, the adjustment of the remuneration of the Supervisory Board was passed with a 99.96% majority of the voting registered capital present.
With majorities of 94.5% and 84.7% of the voting registered capital present, the creation of another Authorised Capital 2017 and the authorisation of the Management Board to issue convertible bonds, option bonds, participation rights and/or profit participation bonds (or combinations of these instruments), as well as the creation of a new Contingent Capital 2017, were approved.
Profit and loss transfer agreements between TLG IMMOBILIEN AG and its five subsidiaries were also upheld by unanimous resolutions.
'Once again we were able to see out a financial year with great success and strong indicators and enjoyed the unwavering confidence of our shareholders. In light of the resolutions passed yesterday, we feel more than encouraged with our decision to pursue a growth strategy', says Peter Finkbeiner, member of the Management Board of TLG IMMOBILIEN AG.
Niclas Karoff, also a member of the Management Board of TLG IMMOBILIEN AG, adds: 'We are determined to continue to expand our platform significantly in future through property acquisitions, whereby we will remain true to our standards of quality and value proposition as we always do.'
All documents relating to the Annual General Meeting 2017 are available on the website of the company:
About TLG IMMOBILIEN AG
As at 31 March 2017, the property value amounted to EUR 2.2 bn. As at the same reporting date, the EPRA Net Asset Value per share amounted to EUR 18.62.
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.
|Company:||TLG IMMOBILIEN AG|
|Phone:||030 - 2470 - 50|
|Fax:||030 - 2470 - 7337|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|