Ad-Hoc
Publication of insider information
in accordance with Article 17 of Regulation (EU) No 596/2014
In the notice of the Annual General Meeting for the financial year 2021/2022 published in the Federal Gazette on 30 March 2023, the management of KPS AG proposed under agenda item 2 to distribute a dividend of EUR 0.19 per no-par value share entitled to dividend. The Executive Board and the Supervisory Board today passed a resolution, amending the proposal for the appropriation of profits. The new proposal is that the unappropriated net in-come for the financial year 2021/2022 of KPS AG in the amount of EUR 22,914,116.14 should be distributed to the shareholders.
a) to use the amount of EUR 3,741,210.00 for the distribution of a dividend of EUR 0.10 per no-par value share entitled to dividend, and
b) to carry forward the remaining amount of EUR 19,172,906.14 to new account.
The reduction of the dividend proposal is, in the management's opinion, a logical step in the interest of the company in response to the economic slowdown in the core segment of KPS and the development of the interest rate level. The additional retained earnings contribution is part of a catalogue of measures to counter these uncertainties and to preserve the company's liquidity reserves and credit lines. By taking this step, the company also ensures that it remains financially flexible, can invest in the further development of the company and can act quickly when new opportunities arise.
The chairman of the meeting will put the amended proposal for the appropriation of profits to the vote at the Annual General Meeting on 10 May 2023. Postal votes on the original proposal for the appropriation of profits that have already been submitted via the shareholder portal are thus irrelevant. However, the Company will ensure that the amended proposal for the appropriation of profits can also be voted on via postal vote in the shareholder portal within the period specified in the notice of the meeting.
Leonardo Musso
Sole member of Management Board
Unterföhring, 05 May 2023