Wacker Construction Equipment AG / AGM/EGM/Dividend
04.06.2008
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Change to Wacker Neuson SE approved
AGM ratifies EUR 0.50 payout per share
(Munich, June 4, 2008) The Annual General Meeting of Wacker Construction
Equipment AG yesterday resolved to change the Groups name and legal form
to Wacker Neuson SE (Societas Europaea). Shareholders also authorized the
Executive and Supervisory Board proposal to pay out dividends of EUR 0.50
per eligible share. The actions of the Executive and Supervisory Boards
were officially approved for fiscal 2007.
Change of name and legal form to Wacker Neuson SE
Around 250 shareholders with a total of 59,129,679 voting rights were
represented at Wackers first AGM as a listed company. Measured against the
authorized capital qualified for dividends, comprising 70.14 million
shares, this brought attendance to 84.30 percent. Dr. Georg Sick, Group CEO
and President, expressed his satisfaction with Wackers performance during
fiscal 2007: 'In the year of its IPO and merger with Neuson Kramer
Baumaschinen AG, our company has made good on its promise to capital market
players and set new sales and profit records.' The shareholders then
approved changing the name and legal form of Wacker Construction Equipment
AG from a German stock corporation (Aktiengesellschaft) to a European
company (Societas Europaea). Once the change has been entered in the German
Register of Companies, the company will be known as Wacker Neuson SE.
Dividend approval and contingent share buy-back resolution
For fiscal 2007, Wacker has resolved to pay out a dividend of EUR 0.27 plus
a bonus of EUR 0.23, totaling EUR 0.50 per eligible share. At 70.14 million
eligible shares (previous year: 39.15 million), this increases overall
payout by 44.5 percent, from EUR 24.27 million to EUR 35.07 million. The
company received authorization to purchase up to 7,014,000 treasury shares
on the stock market, subject to prior approval by the Supervisory Board.
This authorization is valid until December 2, 2009. Additionally, the
Executive Board, with the approval of the Supervisory Board, received
authorization to resell treasury shares purchased through the buy-back
program subject to the exclusion of subscription rights, and to use these
funds for acquisitions for instance.
Favorable outlook
Wacker continued to pursue its growth-oriented strategy during the first
quarter of the current fiscal year. 'The development of first-quarter sales
and earnings was shaped by the high planned levels of Group investment and
sales activities,' Sick explains. Despite a climate of increasing
uncertainty, the company reiterates its confidence in its medium to
long-term prospects and confirms it is aiming at further sales and earnings
growth.
Voting on key agenda items at Wackers 2008 AGM:
Agenda item/Voting rights present/For/Approval (percent)/Against/
Abstentions
Profit allocation 59,095,283 59,089,863 99.99% 1,992 3,428
Official approval of
Executive Board actions 57,562,911 57,552,399 99.99% 6,282 4,230
Official approval of
Supervisory Board
actions 36,625,368 36,614,566 99.98% 6,572 4,230
Appointment of auditors 59,095,283 59,089,250 99.99% 1,960 4,073
Contingent share buy-back
resolution and resale
of treasury stock 59,095,283 58,888,787 99.99% 6,413 200,083
Change to
Wacker Neuson SE 59,095,283 57,418,270 97.79% 1,299,031 377,982
Performance of the
resolutions 59,095,283 59,088,935 99.99% 675 5,673
About Wacker Neuson:
Completed in 2007, the merger between the parent company Wacker
Construction Equipment AG and Neuson Kramer Baumaschinen AG has created a
major global manufacturer of light and compact equipment. With over 30
affiliates and more than 180 sales and service stations across the globe,
the new company offers an unparalleled product portfolio. All products
manufactured by the new organization will in future be branded Wacker
Neuson. The exceptions to this in Europe are Kramer all-wheel loaders and
the Weidemann brand, which will be retained and further developed for the
agricultural industry. With over 300 product categories and extensive
rental, spare parts and repair services, Wacker Neuson is the partner of
choice among professional users in construction, gardening, landscaping and
agriculture, as well as among municipal bodies and companies in the
industrial and recycling sectors.
Your contact partner:
Wacker Construction Equipment AG
Imre Szerdahelyi
Head of Corporate Communication
Preussenstr. 41 , 80809 Munich, Germany
Tel. +49 - (0)89 - 354 02 - 251
imre.szerdahelyi@eu.wackergroup.com
www.wackerneuson.com
DGAP 04.06.2008
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Language: English
Issuer: Wacker Construction Equipment AG
Preußenstr. 41
80809 München
Deutschland
Phone: +49 - (0)89 - 354 02 - 0
Fax: +49 - (0)89 - 354 02 - 390
E-mail: info@eu.wackergroup.com
Internet: www.wackergroup.com
ISIN: DE000WACK012
WKN: WACK01
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Hannover, Düsseldorf, Hamburg, München, Stuttgart
End of News DGAP News-Service
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DGAP-News: Wacker Construction Equipment AG: Change to Wacker Neuson SE approved
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