WIESBADEN (dpa-AFX) - Aareal Bank AG (AAALF.PK) said that its Annual General Meeting has rejected the partial replacement of Supervisory Board members, as proposed by two shareholders.
At Tuesday's virtual Annual General Meeting, about 69 per cent of the share capital present at the Meeting voted against the demand for removal of three Supervisory Board members (including Chairman Marija Korsch) put forward by shareholders Till Hufnagel and Petrus Advisers Investments Fund L.P. in requests for extension of the agenda.
The large majority of other shareholders thus supported Aareal Bank's position, which it had outlined prior to the Meeting, that the demand for a partial replacement of Supervisory Board members has not been substantiated.
The Annual General Meeting also granted formal approval to the Supervisory Board and the Management Board for the 2020 financial year, with majorities of approximately 68 to 89 per cent.
The dividend proposal of 0.40 euros per share for 2020 was resolved with about 99 per cent of votes cast.
However, the required majority vote was not reached for the remuneration system for the Management Board, with about 37 per cent of votes in favour.
Copyright RTT News/dpa-AFX
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