DGAP-Adhoc: Continental AG: Postponement of Annual Shareholders' Meeting 2020
DGAP-Ad-hoc: Continental AG / Key word(s): AGM/EGM Due to the developing Coronavirus situation and the requirement to cancel large meetings involving more than 1,000 participants put in place by the Health Ministry of the state of Lower Saxony since March 11, 2020, the Executive Board of Continental AG has decided to postpone the Annual Shareholders' Meeting which was planned to take place in Hanover on April 30, 2020. The Annual Shareholders' Meeting is expected to take place within the period of 8 months after the start of the fiscal year, as prescribed by applicable regulation. The exact date will be communicated in due course. The postponement will delay the required approvals by the Supervisory Board and Annual Shareholders' Meeting on the planned spin-off of 100% of Vitesco Technologies (formerly the Powertrain division) with subsequent listing. Upon securing these approvals, Continental AG will strive for an implementation of the spin-off and the subsequent listing as soon as practicable. Other activities related to the spin-off of Vitesco Technologies will not be affected. The postponement of the Annual Shareholders' Meeting will also result in a delay of the resolution on the appropriation of net income for the fiscal year 2019. Such resolution by the Annual Shareholders' Meeting is required for the payment of the proposed dividend of €4.00 per no-par-value share. Contact: Person making the notification: Bernard Wang, Head of IR
13-March-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | Continental AG |
Vahrenwalder Straße 9 | |
30165 Hannover | |
Germany | |
Phone: | +49 (0)511 938-1068 |
Fax: | +49 (0)511 938-1080 |
E-mail: | [email protected] |
Internet: | www.continental-corporation.com/de |
ISIN: | DE0005439004 |
WKN: | 543900 |
Indices: | DAX |
Listed: | Regulated Market in Frankfurt (Prime Standard), Hamburg, Hanover, Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Tradegate Exchange; Luxembourg Stock Exchange, SIX |
EQS News ID: | 997067 |
End of Announcement | DGAP News Service |
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997067 13-March-2020 CET/CEST
Continental AG Stock
Based on 2 Buy predictions and 1 Sell predictions the sentiment towards Continental AG is rather balanced.
As a result the target price of 66 € shows a slightly positive potential of 11.45% compared to the current price of 59.22 € for Continental AG.