PROCREDIT HOLDING AG & CO. KGAA (FRA:DE000622) ProCredit Holding AG & Co. KGaA: ProCredit Holding postpones decision on appropriation of profit for the year 2019

Directive transparence : information réglementée

26/04/2020 11:48

DGAP-Ad-hoc: ProCredit Holding AG & Co. KGaA / Key word(s): Dividend/AGM/EGM
ProCredit Holding AG & Co. KGaA: ProCredit Holding postpones decision on appropriation of profit for the year 2019

26-Apr-2020 / 11:48 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

ProCredit Holding postpones decision on appropriation of profit for the year 2019

Frankfurt am Main, 26 April 2020 - The Management Board of ProCredit General Partner AG, in consultation with the Supervisory Board, decided today not to submit a proposal to the shareholders for a resolution on the appropriation of the profit for the 2019 financial year at the Annual General Meeting of ProCredit Holding AG & Co. KGaA scheduled for May. This decision is in line with the recommendations of the European Central Bank of 27 March 2020 and the German Federal Financial Supervisory Authority of 30 March 2020 that banks should not pay a dividend for 2019 and 2020 until at least 1 October 2020. The Management Board plans to submit a proposal for the appropriation of profits to be approved by the General Meeting in the fourth quarter of 2020.

In addition, the Management Board decided today to prepare a detailed statement on the impact of the COVID-19 pandemic on the ProCredit group and to publish it on the company's website on 27 April 2020.

The decision of the Management Board, notwithstanding section 175 (1) sentence 2 of the German Stock Corporation Act (AktG), to carry out the voting on individual items subject to Annual General Meeting resolutions not at the AGM in May but rather in the last quarter of the 2020 financial year, was made with the approval of the Supervisory Board of ProCredit Holding AG & Co. KGaA.


Christian Edgardo Dagrosa, Reporting & Controlling and Investor Relations, ProCredit Holding, Tel.: +49 69 951 437 218; e-mail: Christian.Dagrosa@procredit-group.com

About ProCredit Holding AG & Co. KGaA

ProCredit Holding AG & Co. KGaA, based in Frankfurt am Main, Germany, is the parent company of the development-oriented ProCredit group, which consists of commercial banks for small and medium enterprises (SMEs). In addition to its operational focus on South Eastern and Eastern Europe, the ProCredit group is also active in South America and Germany. The company's shares are traded on the Prime Standard segment of the Frankfurt Stock Exchange. The anchor shareholders of ProCredit Holding AG & Co. KGaA include the strategic investors Zeitinger Invest and ProCredit Staff Invest (comprising the investment vehicles for ProCredit staff), the Dutch DOEN Participaties, KfW Development Bank and IFC (part of the World Bank Group). As the group's superordinated company according to the German Banking Act, ProCredit Holding AG & Co. KGaA is supervised on a consolidated level by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin) and the German Bundesbank. For additional information, visit: www.procredit-holding.com.

Important information

This announcement contains statements relating to the future business development and financial performance of ProCredit Holding, as well as statements relating to future actions or developments affecting ProCredit Holding which may constitute forward-looking statements. Such statements are based on present expectations and specific assumptions on the part of the Management of ProCredit Holding, many of which are beyond the control of ProCredit Holding. They are therefore subject to a multitude of risks, uncertainties and factors. Should one or more of these risks or uncertainties materialise, or should underlying expectations or assumptions prove incorrect, then the actual results, performance and achievements (both negative and positive) of ProCredit Holding may differ significantly from those expressed or implied in the forward-looking statement. Without prejudice to legal requirements, ProCredit Holding does not undertake any obligation to update these forward-looking statements or to correct them in the event of deviations from the expected development.

26-Apr-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language: English
Company: ProCredit Holding AG & Co. KGaA
Rohmerplatz 33-37
60486 Frankfurt am Main
Phone: +49-69-951437-0
Fax: +49-69-951437-168
E-mail: pch.info@procredit-group.com
Internet: www.procredit-holding.com
ISIN: DE0006223407
WKN: 622340
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Stuttgart, Tradegate Exchange
EQS News ID: 1029873

End of Announcement DGAP News Service

1029873  26-Apr-2020 CET/CEST