ASSLAR (dpa-AFX) - Pfeiffer Vacuum Technology AG (PFFVF.PK, PVTCY.PK), a manufacturer of vacuum solutions, announced that its shareholders at Tuesday's Annual General Meeting, approved the domination and profit and loss transfer agreement concluded with Pangea GmbH, a subsidiary of Busch SE.
For fiscal 2022, the shareholders also approved the distribution of a reduced dividend of 0.11 euro per share, compared to previous year's 4.08 euros.
In the meeting, the resolutions put forward by the Management Board and the Supervisory Board were approved. In total, about 81% of share capital was represented.
The company noted that the shareholders approved the agreement with Pangea with a majority of 86.58% of the share capital present at the Annual General Meeting.
They also approved the adoption of compensation report and amended compensation system for the Management Board and creation of new authorized capital 2023.
Britta Giesen, CEO of Pfeiffer Vacuum, said, 'The approval of the concluded domination and profit and loss transfer agreement now provides us the necessary legal basis for a more flexible and effective cooperation with the Busch Group. It enables us to forge ahead with greater momentum on a day-to-day basis to unlock the potential that is inherent in our mutual connection.'
Authorized capital 2023 replaces the existing authorized capital 2018, which was due to expire on May 23, 2023 in view of its prescribed time limit. This allows Pfeiffer Vacuum to continue to act flexibly on the market and to make use of opportunities for growth at any time.
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