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PRESS RELEASE: ESTAVIS AG: Shareholder Meeting of ESTAVIS AG Backs Management's Growth Course

DGAP-News: ESTAVIS AG / Key word(s): AGM/EGM ESTAVIS AG: Shareholder Meeting of ESTAVIS AG Backs Management's Growth Course

13.01.2014 / 09:43

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- Shareholders approve increase in authorised capital and fresh contingent capital - Election of new supervisory board - Bright outlook for the ongoing financial year

Berlin, 13 January 2014 - The shareholders of Estavis AG confirmed the policy of the company's senior management with a large majority at shareholder meeting on last friday. The occasion also saw the resignation of incumbent supervisory board members Dr. Karl-Josef Sthr (Chairman), Rolf Elgeti and Dr. Philipp K. Wagner from their posts as expected after a previous announcement. The shareholder meeting resolved with a large majority to appoint Alexandra Timoschenko, Andr Pernhold and Thomas Bergander to the supervisory body. Thomas Bergander will serve as next chairman of the supervisory board of Estavis AG.

Fresh Capital Authorised for Continued Expansion

Another resolution passed by the shareholder meeting concerned a share capital increase. For one thing, the shareholder approved a conditional capital increase of up to 4,136,631.00 euros through the issuance of up to 4,136,631 new no-par-value bearer shares. On the other hand, they approved an authorised capital of up to 9,116,469.00 euros for future corporate actions. 'The shareholders voted in favour of our business model, thereby clearing the way for the continued expansion of Estavis,' said Torsten Ceijka, member of the board of Estavis AG.

Bright Outlook for the Ongoing Financial Year

Following the turnaround in the 2012 / 2013 financial year, which saw Estavis turn a profit again with a consolidated income of 1.5 million euros, the management board is committed to further expansion. 'In the ongoing financial year, we are stepping up our activities in the two strategic core areas of privatisation and portfolio management. 'The successful performance of the company during the previous financial year permits us to build on a sound foundation,' announced Jacopo Mingazzini, another board member of Estavis AG.

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PRESS RELEASE: ESTAVIS AG: Shareholder Meeting of ESTAVIS AG Backs Management's Growth Course