Due to the restrictions on gatherings caused by the COVID-19 pandemic, the Executive Board and the Supervisory Board determined today to make use of the new legal regulations to limit the effects of the pandemic of March 27, 2020 and to conduct the 2020 Annual General Meeting virtually, without the physical presence of shareholders. The Annual General Meeting remains scheduled for May 27, 2020.
In addition, the Executive Board and the Supervisory Board decided today on an adjustment of the original dividend proposal. At the time the annual financial statements were prepared on February 28, 2020, the intention was to recommend a dividend of €1.00 per share, which would have been unchanged from the previous year. Since then the global effects of the pandemic have increased significantly. As a result of the corresponding increase in uncertainty surrounding the further business performance of the Vossloh Group, the Executive Board and the Supervisory Board determined to propose to the Annual General Meeting the suspension of the dividend payments for the 2019 fiscal year. The adjusted proposal for the appropriation of profit will contribute significantly to the strengthening of Vossloh AG’s balance sheet.
The invitation to the Annual General Meeting together with the corresponding agenda is expected to be disclosed in the German Federal Gazette (Bundesanzeiger) and published on the Vossloh AG website (www.hauptversammlung.vossloh.com) on April 20, 2020.
Werdohl, April 16, 2020
Contact information for the media:
Gundolf Moritz (Mirnock Consulting)
Phone: (+49-23 92) 52-608
Contact information for investors:
Dr. Daniel Gavranovic
Phone: (+49-23 92) 52-609
Vossloh is active in rail technology markets worldwide. The Company’s core business is rail infrastructure. The Group activities are organized into the three divisions of Core Components, Customized Modules and Lifecycle Solutions. In the 2019 fiscal year, Vossloh achieved sales of €916.4 million with an average of 3,786 employees.