AGM Resolutions Approved with Large Majorities / Company’s Strategic Approach Opening Additional Market Potential
Filderstadt, 11 March 2015 – The All for One Steeb AG annual general meeting (AGM) held on 11 March 2015 approved all of the company’s proposed resolutions with large majorities. In addition to the creation of new authorised capital following the December 2013 capital increase against a non-cash contribution that excluded subscription rights, and the early renewal of the authority to repurchase shares of company stock that was scheduled to expire in March 2016, another important resolution was to increase the dividend from 50 euro cents per share (AGM 2014) to 70 euro cents per share. Accordingly, the amount of the distribution will be approximately EUR 3.5 million for the total of 4,982,000 shares entitled to dividends. In relation to the 2013/14 Group earnings after tax of EUR 8.8 million (2012/13: EUR 5.6 million), the dividend payout ratio of 40% is approximately the same as in the prior year (2013/14: 43%). Some 83% of the share capital was represented at the meeting.
Just as all of the proposals on the agenda received resounding approval, the strategic approach that the company is taking earned a great deal of praise as well. All for One Steeb CEO Lars Landwehrkamp: »Were it not for our shareholders’ years of trust and confidence in us, we would never be where we are today: the Number 1 in the German-speaking SAP market. With S/4HANA, SAP has introduced a new generation of enterprise software, which, together with the new SAP Cloud solutions, opens up significant additional market opportunities for us. Along with that, we also want to continue with our successful buy & build strategy so that we can considerably expand our position and create added value over the course of those major structural changes that our industry is facing«, added Landwehrkamp. The price of All for One Steeb AG stock rose 93% from EUR 15.75 to EUR 30.40 during the past financial year 2013/14.