Francotyp-Postalia Holding AG
Francotyp-Postalia Holding AG: FP sees no need for an Extraordinary General Meeting
DGAP-News: Francotyp-Postalia Holding AG
/ Key word(s): AGM/EGM/Statement
P R E S S R E L E A S E FP sees no need for an Extraordinary General Meeting Berlin, 09.02.2020 Under the German Stock Corporation Act, the Annual General Meeting has no authority to appoint or dismiss members of the Management Board. To date, no resolution has been passed on a nonconfidence-vote. Consequently, the Management Board currently understands the request to mean that the shareholder wishes to bring forward a non-confidence-vote by this request and that this should be the subject of the Extraordinary General Meeting. The Management Board is of the opinion that, in the interests of the Company, the expense of an additional General Meeting should be avoided if possible. It will therefore examine whether the Ordinary General Meeting, originally scheduled for June 17, 2020, can be held at an earlier date. The Management Board welcomes the fact that the Company’s shareholders are following the strategic development of Francotyp-Postalia Holding AG with great interest. The Company points out that, contrary to what might be assumed from the letter from the shareholder, the Annual General Meeting has so far neither withdrawn its confidence into the Management Board nor into the CEO. A change in the Board of Management at this time, taking into account the current strategic projects, is neither in the interest of the Company, its employees and customers, nor in the interest of the shareholders. The Management Board takes the concerns of the shareholder seriously, but still assumes that the strategic goals can be achieved overall. The transformation process of the company is progressing, and adjustments have already been made in sub-projects where there have been delays. Accordingly, the Management Board is adhering to the ACT strategy and its successful implementation and believes in the associated goals. The company intends to further strengthen its core business and significantly expand its market share. To achieve this, substantial investments were made, particularly in the past fiscal year, in new employees, products, sales support and new structures, processes and systems. At the same time, new business fields are being further developed. As an expert in secure digital communication, FP is also further expanding its presence in growth markets such as IoT and digital signatures. The Company has significantly improved its cost and efficiency structures and expects to achieve increased EBITDA and positive free cash flow for the past fiscal year. Investments in the Group’s reorganization will continue to show further improvements in earnings in 2020.
Maik Laske Follow us on Social Media: About Francotyp-Postalia (FP) Contact: Francotyp-Postalia Holding AG Maik Laske Head of Treasury / M&A / Investor Relations Telefon: +49 (0)30 220 660 296 Telefax: +49 (0)30 220 660 425 E-Mail: ir@francotyp.com
09.02.2020 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | Francotyp-Postalia Holding AG |
Prenzlauer Promenade 28 | |
13089 Berlin | |
Germany | |
Phone: | +49 (0)30 220 660 410 |
Fax: | +49 (0)30 220 660 425 |
E-mail: | ir@francotyp.com |
Internet: | www.fp-francotyp.com |
ISIN: | DE000FPH9000 |
WKN: | FPH900 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 971209 |
End of News | DGAP News Service |