Encavis AG AGM Decides to Retain Earnings for Accelerated Growth

Encavis AG AGM Decides to Retain Earnings for Accelerated Growth

(IN BRIEF) Hamburg-based renewable energy operator Encavis AG (listed on the MDAX) recently concluded its Annual General Meeting (AGM) by resolving to retain its entire consolidated earnings, bolstering the company’s internal resources to propel accelerated growth. The decision reflects Encavis AG’s commitment to supporting its ambitious expansion plans through enhanced equity. Moreover, all members of the Management Board and the Supervisory Board received discharge with overwhelming majority approvals, alongside the clear endorsement of the amended compensation system for Management Board members. Ayleen Oehmen-Görisch from CMS Hasche Sigle Partnerschaft von Rechtsanwälten und Steuerberatern mbB was elected to the Supervisory Board, succeeding Mr. Albert Büll, while Dr. Marcus Schenck from Lazard Asset Management (Deutschland) GmbH was re-elected. Dr. Rolf Martin Schmitz, Chairman of the Supervisory Board, expressed gratitude for shareholder interest amid the ongoing takeover situation and highlighted a productive discussion on the company’s future during the physical AGM in Hamburg-Heimfeld. Detailed voting results and AGM materials are available for download on Encavis AG’s website.

(PRESS RELEASE) HAMBURG, 10-Jun-2024 — /EuropaWire/ — In the recent Annual General Meeting (AGM) of Encavis AG, a Hamburg-based wind and solar park operator listed on the MDAX, decisions were made with a focus on reinforcing the company’s growth trajectory. The AGM, held on June 5, 2024, saw the resolution to retain the entirety of Encavis AG’s consolidated earnings, redirecting them towards the support of the group’s accelerated growth rather than distributing them as dividends. This move aims to bolster the company’s resources from within, facilitating its ambitious expansion plans.

The AGM also saw significant support from shareholders, with clear majorities granting discharge to all members of the Management Board and the Supervisory Board. Additionally, the amended compensation system for Management Board members received overwhelming approval, following the endorsement of the audited compensation report for the financial year 2023 by shareholders.

A notable development was the election of Ayleen Oehmen-Görisch, attorney at law at CMS Hasche Sigle Partnerschaft von Rechtsanwälten und Steuerberatern mbB in Frankfurt/Main, to the Supervisory Board of Encavis AG. This appointment, met with a substantial majority of shareholder votes, marks a transition on the board, succeeding Mr. Albert Büll and aligning with the company’s planned change towards a “Staggered Board” structure.

Furthermore, Dr. Marcus Schenck, Head of DACH and member of the Global Management Committee Financial Advisory of Lazard Asset Management (Deutschland) GmbH, based in Munich, was re-elected to the Supervisory Board of Encavis AG, also backed by a significant majority of shareholders.

Dr. Rolf Martin Schmitz, Chairman of the Supervisory Board, expressed satisfaction with the shareholders’ continued interest in the AGM, especially amidst the ongoing takeover situation involving KKR, Viessmann, and ABACON. The meeting provided a platform for robust discussions regarding the company’s future growth prospects and the progress of the takeover process.

Detailed voting results and the speech text, along with corresponding presentation charts from the Management Board of the AGM, are available for download on Encavis AG’s website at the provided link.

About Encavis:
The Encavis AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) is a producer of electricity from Renewable Energies listed on the MDAX of Deutsche Börse AG. As one of the leading independent power producers (IPP), ENCAVIS acquires and operates (onshore) wind farms and solar parks in twelve European countries. The plants for sustainable energy production generate stable yields through guaranteed feed-in tariffs (FIT) or long-term power purchase agreements (PPA). The Encavis Group’s total generation capacity currently adds up to more than 3.5 gigawatts (GW), of which around 2.2 GW belong to the Encavis AG, which corresponds to a total saving of around 0.8 million tonnes of CO2 per year stand-alone for the Encavis AG. In addition, the Group currently has around 1.2 GW of capacity under construction, of which around 830 MW are own assets.

Within the Encavis Group, Encavis Asset Management AG offers fund services to institutional investors. Another Group member company is Stern Energy S.p.A., based in Parma, Italy, a specialised provider of technical services for the installation, operation, maintenance, revamping and repowering of photovoltaic systems across Europe.

Encavis is a signatory of the UN Global Compact as well as of the UN PRI network. Encavis AG’s environmental, social and governance performance has been awarded by two of the world’s leading ESG rating agencies. MSCI ESG Ratings awarded the corporate ESG performance with their “AA” level and ISS ESG with their “Prime” label (A-).

Additional information can be found on www.encavis.com

Media Contact:

Jörg Peters
Head of Corporate Communications & Investor Relations
Tel.: + 49 40 37 85 62 242
E-Mail: IR@encavis.com
http://www.encavis.com

SOURCE: Encavis AG

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