Wacker Neuson SE: Shareholders approve healthy dividend
Wacker Neuson SE / Key word(s): Dividend/AGM/EGM
Wacker Neuson SE:
Shareholders approve healthy dividend
Dividend tripled - authorized capital renewed - business remains strong
(Munich, May 22, 2012) Shareholders of Wacker Neuson SE approved a dividend payout in the amount of EUR 0.50 per share at today's AGM (previous year: EUR 0.17). Shareholders also approved an authorized capital proposal. The option of increasing the company's share capital by up to 25 percent gives the Executive Board headroom to capitalize on opportunities that would strengthen Wacker Neuson's market position.
Proposals put forward at the AGM approved with a clear majority
At the AGM, CEO Cem Peksaglam presented an overview of fiscal 2011. He also outlined progress thus far in 2012 and detailed the company's future development framed by the current growth strategy roadmap. The information was well received by shareholders.
Cem Peksaglam also explained the benefits of creating authorized capital in the amount of 25 percent of existing share capital. This move enables the Executive Board, subject to the approval of the Supervisory Board, to issue up to 17,535,000 new shares within the next five years. Wacker Neuson SE faces stiff competition at both national and international level. The authorized capital will enable the company to potentially acquire suitable companies, in return possibly for shares in Wacker Neuson SE. It will also enable the company to issue new shares against cash contributions, thus providing it with an additional financing instrument independently of banking institutions. Shareholders approved this proposal, giving the company the option of strengthening its competitive position without impacting its finances or liquidity. The previous authorized capital expired in April 2012.
'The resolution aligns with the Group's strategy, giving us maximum flexibility on both the partnering and financial front. Although we do not currently have any concrete plans to avail of this authorized capital, it will give us the headroom to capitalize on opportunities that could improve our market position and competitiveness,' explains Cem Peksaglam. The Group has set itself ambitious growth targets through 2016. It intends to expand market share by increasing market penetration and sales capabilities, strengthen its innovative drive, and get even closer to its customers by expanding its international reach. Wacker Neuson has identified growth potential in its core markets of Europe and North America as well as in emerging markets, above all in South America, Eastern Europe and Asia. 'As economic cycles become ever shorter and individual markets and regions more volatile, we make sure to further internationalize our business to sustain continuous growth,' adds Peksaglam.
Shareholders also approved the appointment of Dr. Matthias Bruse, attorney-at-law and partner of the P+P Pöllath+Partners law firm based in Munich, to the Supervisory Board of Wacker Neuson SE. Dr. Bruse was initially judicially appointed to the Supervisory Board last year.
Further resolutions were subjected to Supervisory Board remuneration, the acquisition of treasury shares and the approval of a profit transfer agreement with an affiliate. Executive Board and Supervisory Board members' actions were also approved. The auditing company Ernst & Young, Stuttgart, was appointed as the official auditor to review the Annual and Consolidated Financial Statements for the fiscal year 2012.
Voting results from the 2012 AGM:
Your contact partner:
Wacker Neuson SE
About Wacker Neuson
End of Corporate News
22.05.2012 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
|Company:||Wacker Neuson SE|
|Phone:||+49 - (0)89 - 354 02 - 0|
|Fax:||+49 - (0)89 - 354 02 - 390|
|Listed:||Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart|
|End of News||DGAP News-Service|