Fulda, 23 September 2020 – The shareholders of KAP AG, a publicly listed, mid-sized industrial group, yesterday approved all the draft resolutions at the 34th Annual General Meeting. Due to the COVID-19 pandemic, the Annual General Meeting took place virtually for the first time. KAP AG’s shareholders were able to vote on the agenda items via the shareholders’ portal. All resolutions were approved by the Annual General Meeting with large majorities. Around 85% of the share capital with voting rights was represented.
Among others, the joint proposal by the Management Board and Supervisory Board on the appropriation of profits, namely to carry forward the profit in full to new account, was approved. The Group had already announced its proposal to suspend the dividend at the end of March this year. The Management Board and Supervisory Board took this decision due to the decrease in sales and earnings in the 2019 financial year and the high level of uncertainty following the outbreak of the pandemic. The Annual General Meeting’s other resolutions included, among other things, the discharge of the Management Board and Supervisory Board, the election of the auditors of the financial statements and the consolidated financial statements for the 2020 financial year, and amendments to the articles of association.
“We would like to thank our shareholders for their trust in us. Overall, we are confident about the future. In the first half of the current financial year, we showed that our strategic cornerstones are the right ones. Thanks to our diversification, we succeeded in achieving good operating results despite the collapse of the global economy”, emphasised Eckehard Forberich, spokesman of the Management Board of KAP AG, in his speech to shareholders.
KAP AG has published the detailed results of the voting on the agenda items in the Investor Relations section of the website on:
Dr. Alexander Riedel (CFO)
T: +49 661 103 590
Kirchhoff Consult AG
T: +49 40 609 186 64
About KAP AG
KAP AG is a mid-sized German industrial group with approximately 3,000 employees. We specialise in engineered products, flexible films, IT/services, surface technologies and precision components, developing innovative industrial products and technological solutions for international companies from trade and industry. As a result of our dedicated long-term business strategy, we serve a number of attractive niche markets with sustainable growth potential. Our focus is on developing market-leading, specialised, and high-margin industrial product lines within these segments. As a reliable partner in the context of succession planning, we also acquire attractively positioned medium-sized family companies with a view to strengthening our existing segments or developing new ones. Holders of KAP shares benefit from our company’s growth trajectory and continuous dividend policy.