Praktiker AG：8th Ordinary General Meeting of Praktiker AG
Hamburg – 29 May 2013. At the eighth Ordinary General Meeting of Praktiker AG held today, Wednesday, in Hamburg, all eight shareholder representatives on the Supervisory Board have been newly elected. Six Supervisory Board members, including the former Chairman, Dr. Erhard F. Grossnigg, were confirmed in their offices. New members on the Supervisory Board are Hans Schmitz, entrepreneur from Bornheim, and Gerhard Sandler, independent business consultant from Hinterbrühl near Vienna. Dr. HaraldWiedmann and Alexander Eichner did not run for election again. For the new appointments, the criteria of the German Corporate Governance Code were taken into account which consider professional competence in the same way as diversity requirements. In this context, two of the eight Supervisory Board members representing the shareholders are women.
By approving the respective motions, the Shareholder Meeting, among others, authorised the Management Board to proceed to capital increases with a scope of up to 57 million euro within the next five years if required and if certain conditions are fulfilled. To this effect, the authorised and the contingent capital were adjusted to the share capital which has meanwhile nearly doubled, and the corresponding authorisations were restated. These anticipatory resolutions increase the company’s financial flexibility.
To offer a competitive remuneration structure to the Management Board members and executives of Praktiker AG, the General Meeting in addition approved a stock option programme with a waiting period of four years and a total volume of nine million euro. A motion presented to move the domicile of Praktiker AG to Hamburg where the new Group headquarters have been operating since mid 2012 had been withdrawn by the Management Board before the beginning of the meeting.
At the shareholder meeting, 30.5 percent of the capital carrying voting rights were represented.