DGAP-News: SHW AG / Key word(s): AGM/EGM
SHW AG postpones the Annual General Meeting for 2020
Aalen, 17 March 2020 SHW AG will not convene the Annual General Meeting as scheduled on 5 May 2020. The reason for this decision lies in the current outbreak of the coronavirus (SARS-CoV-2). SHW AG places the highest priority on protecting the health of shareholders and employees alike. The postponement of the Annual General Meeting will lead to a delay in the payment of the dividend. The proposed dividend of € 0.04 per share may only be distributed once the Annual General Meeting has passed a resolution to this effect. Depending on the course of future events, an effort will be made to convene the Annual General Meeting in the summer of 2020.
The Company was established in 1365, making it one of the oldest industrial companies in Germany. Today, SHW AG is a leading automotive supplier, providing products that make a substantial contribution to reducing fuel consumption and, consequently, to lowering CO2 emissions. In its Pumps and Engine Components business segment, the SHW Group develops and produces pumps for passenger vehicles (including circuit boards) and Truck & Off-Highway applications (e.g., trucks, agricultural and construction machinery, stationary engines and wind farms) as well as engine components. The Brake Discs business segment develops and produces monobloc ventilated brake discs made of cast iron and composite brake discs made of a combination of an iron friction ring and an aluminium pot. The SHW Group's customers include renowned automobile manufacturers, manufacturers of commercial, agricultural and construction vehicles as well as other suppliers to the automotive industry. Currently, the SHW Group has five production sites in Germany located in Bad Schussenried, Aalen-Wasseralfingen, Hermsdorf, Tuttlingen-Ludwigstal and Neuhausen ob Eck, plus sites in Brazil (São Paulo), China (Kunshan), Canada (Toronto) and Romania (Timişoara). With just over 1,600 employees, the Company achieved group sales of over € 430 million in the fiscal year 2019. Further information is available at www.shw.de.
Telephone: +49 0 7361 502 420
This press release contains forward-looking statements that are based on current assumptions and forecasts made by the management of SHW AG. Various known and unknown risks, uncertainties and other factors can result in the actual results, financial position and development or performance of the Company deviating considerably from the appraisals specified here. The Company assumes no obligation to update future-oriented statements of this nature or adapt them to future events or developments.
This announcement is for information purposes only and does neither constitute an offer to sell, purchase, exchange or transfer any securities nor a solicitation of any offer to sell, purchase, exchange or transfer any securities. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States absent of any registration or an exemption from registration under the Securities Act. SHW AG does not intend to register any securities referred to herein under the Securities Act or with any securities regulatory authority of any state or other jurisdiction in the United States in connection with this announcement.
|Phone:||+49 7361 502-1|
|Fax:||+49 7361 502-852|
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Hanover, Munich (m:access), Stuttgart, Tradegate Exchange|
|EQS News ID:||999865|
|End of News||DGAP News Service|