Amsterdam 8 June 2023. Cabka N.V. (together with its subsidiaries “Cabka”, or the “Company”), a company specialized in transforming hard to recycle plastic waste into innovative Reusable Transport Packaging (RTP), listed at Euronext Amsterdam, announces that at its Annual General Meeting (AGM) of shareholders, held today at Euronext Amsterdam, all resolutions were duly passed.
At the Annual General Meeting, in total 11,559,768 votes could be validly cast representing 47.23 % of the total issued and outstanding share capital of 24,477,991 shares (of which 97,778 special shares).
Management gave an overview of the current business and the General Meeting voted in favor of Cabka’s remuneration report, adopted the audited 2022 financial statements and agreed with the proposed distribution of EUR 0.15 of which EUR 0.05 in cash and EUR 0.10 in ordinary shares. The members of the Management Board and the Supervisory Board in office in the financial year 2022 were discharged for the performance of their relevant duties. Frank Roerink was appointed as a member of the Management Board and CFO. BDO Audit & Assurance B.V. was reappointed as external auditor of the Company for the financial year 2023 and the remuneration policies for the Management Board and the Supervisory Board as well as the authorization for repurchasing and issuing of shares were adopted.
All agenda items were adopted with a (rounded) percentage of 100.0%, an overview of the exact votes casted is provided on the next page.
Management provided a business update and stated that based on Cabka’s strong fundamentals it reiterates the mid-term guidance. Barring unforeseen circumstances, for 2023 Cabka expects to deliver on single digit sales growth, with a recovery of EBITDA margin towards 13-15%.
Financial Calendar 2023
- 13 June Capital Markets Day
- 17 August Ex-Dividend* Date
- 18 August Dividend* Record Date
- 22 August Publication Half Year Results 2023
- 25 August Dividend* Payment Date
- 19 October Trading Update Q3 2023
- 20 March 2024 Publication Preliminary Results 2023
* Reference to ‘dividend’ refers to proposed distribution
Overview of votes casted per voting item Cabka AGM 8 June 2023
| # | Agenda item | For | Against | Withheld |
| 2b | Remuneration report for the management board and supervisory board for the financial year 2022 (advisory vote) | 11,557,218 | 510 | 2,040 |
| 2c | Adoption of the company and consolidated financial statements for the financial year 2022 including appropriation of the net result for the financial year 2022 | 11,557,218 | 510 | 2,040 |
| 2d | Distribution in relation to the financial year 2022 and related amendments of the articles of association | 11,556,749 | 510 | 2,509 |
| 3a | Discharge of the managing directors for the financial year 2022 | 11,557,218 | 510 | 2,040 |
| 3b | Discharge of the supervisory directors for the financial year 2022 | 11,557,218 | 510 | 2,040 |
| 4 | Reappointment of the external auditor for the financial year 2023 | 11,557,218 | 510 | 2,040 |
| 5 | Appointment of managing director | 11,557,127 | 510 | 2,131 |
| 6 | Amendment of the remuneration policy of the supervisory board | 11,556,702 | 1,026 | 2,040 |
| 7 | Amendment of the remuneration policy of the management board | 11,556,233 | 1,026 | 2,509 |
| 8 | Authorization of the management board, subject to approval of the supervisory board, to repurchase ordinary shares | 11,557,218 | 510 | 2,040 |
| 9a. | Designation of the management board, subject to approval of the supervisory board, as the competent body to (i) issue ordinary shares | 11,554,658 | 2,601 | 2,509 |
| 9b. | Designation of the management board, subject to approval of the supervisory board, as the competent body to restrict or exclude pre-emptive rights upon issuance of ordinary shares | 11,556,658 | 601 | 2,509 |
For more information, please contact:
David Brilleslijper, Investor & Press contact
IR@cabka.com, or D.Brilleslijper@cabka.com,
+316 109 42514
www.investors.cabka.com
Commercial contact: info@cabka.com
www.cabka.com
About Cabka
Cabka is in the business of recycling plastics from post-consumer and post-industrial waste into innovative reusable transport packaging (RTP), like pallets- and large container solutions enhancing logistics chain sustainability. ECO products are mainly construction and road safety products produced exclusively out of post-consumer waste.
Cabka is leading the industry in its integrated approach closing the loop from waste, to recycling, to manufacturing. Backed by its own innovation center it has the rare industry knowledge, capability, and capacity of making maximum use bringing recycled plastics back in the production loop at attractive returns. Cabka is fully equipped to exploit the full value chain from waste to end-products.
Cabka is listed at Euronext Amsterdam as of 1 March 2022 under the CABKA ticker with international securities identification number NL00150000S7.
Disclaimer
The content of this press release may include statements that are, or may be deemed to be, ‘’forward-looking statements’’. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms ‘’believes’’, ‘’estimates’’, ‘’plans’’, ‘’projects’’, ‘’anticipates’’, ‘’expects’’, ‘’intends’’, ‘’may’’, ‘’will’’ or ‘’should’’ or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Company’s current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company’s business, results of operations, financial position, liquidity, prospects, growth, or strategies.
Readers are cautioned that any forward-looking statements are not guarantees of future performance. Given these uncertainties, the reader is advised not to place any undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of publication of this press release. The Company undertakes no obligation to publicly update or revise the information in this press release, including any forward-looking statements, except as may be required by law.
This document contains information that qualifies as inside information within the meaning of Article 7(1) of Regulation (EU) No 596/2014 on market abuse.
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