EQS-News

Notice for the Annual General Meeting 2024

EQS-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG / Key word(s): AGM/EGM Notice for the Annual General Meeting 2024 16.05.2024 / 08:45 CET/CEST The issuer is solely responsible for the content of this announcement. Notice for the Annual General Meeting 2024

 

Munich, May 15, 2024 - LUDWIG BECK AG (ISIN DE0005199905) held its Annual General Meeting in virtual form on May 15, 2024. Shareholders and shareholder representatives had the opportunity to follow the event via video stream on a dedicated online portal. 3.3 million votes, i.e. 90.0% of the share capital, were represented. With the exception of the discharge of the Chairman of the Executive Board, all proposed resolutions on the agenda items were approved.

The Executive Board looked back again on the year 2023. The ongoing conflict in Ukraine continued to impact the global economy. Rising energy costs and high inflation again characterised LUDWIG BECK's business development in 2023. The retail sector, especially the fashion industry, suffered from subdued consumer sentiment and was adversely affected by extreme weather conditions and rail strikes. These events aggravated the economic burdens.

LUDWIG BECK generated gross sales of € 86.5m at group level (previous year: € 83.8m).

The individual items on the agenda:

Dividend:
After LUDWIG BECK AG has not distributed any dividends to shareholders in the last five years due to multiple crises, the Supervisory Board and Executive Board propose to distribute a dividend of € 0.15 per share, i.e. € 554k, the first time again for the 2023 fiscal year.

Further items on the agenda:
The Executive Board and Supervisory Board were discharged and Rödl & Partner GmbH, Wirtschaftsprüfungsgesellschaft, Munich, was appointed as auditor for the 2024 fiscal year. The remuneration report with the disclosures on the remuneration of the members of the Executive Board and Supervisory Board was also approved.

Voting results for the agenda items in detail:

Agenda item 2 "Appropriation of net retained profits:
Yes-votes: 1,917,565, No-votes: 1,409,336. The administration's proposal of the appropriation of net retained profits was thus accepted with 57.64 %