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PRESS RELEASE: Dividend of EUR 0.75 per share approved at Grammer AG's Annual General Meeting

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DGAP-News: Grammer AG / Key word(s): AGM/EGM
Dividend of EUR 0.75 per share approved at Grammer AG's Annual General
Meeting

2019-07-12 / 14:28
The issuer is solely responsible for the content of this announcement.

*Dividend of EUR 0.75 per share approved at Grammer AG's Annual General
Meeting*

*Amberg, July 12, 2019 *- The shareholders of Grammer AG today voted on the
motions submitted by the Executive Board and the Supervisory Board at this
year's Annual General Meeting. In particular, the distribution of a dividend
of EUR 0.75 per share was approved by a large majority. Likewise, a large
majority of the shareholders voted in favor of ratifying the actions of the
Executive Board and the Supervisory Board in 2018 and once again elected
Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft, Nuremberg, as the
independent auditors for 2019. The Annual General Meeting postponed a vote
on the creation of new authorized capital with the option of partially
excluding the shareholders' preemptive subscription rights until a future
Annual General Meeting. This was in response to the request of the majority
shareholder, who, as a result of the indirect transfer of its Grammer
shareholding to Ningbo Jifeng Auto Parts Co., Ltd. is dependent on the grant
of approvals from the Chinese supervisory authorities. A resolution on the
authorization of authorized capital would interfere with the current
approval procedure, or at least delay it significantly. This would not be in
Grammer's interest in view of the effort involved.

More than 86 percent of the voting share capital was represented at Grammer
AG's Annual General Meeting, thus exceeding the previous year's record
percentage.

"2018 as well as 2019 to date have been marked by major challenges facing
the entire automotive industry both at the sector and macroeconomic level.
Grammer AG has held its ground in this difficult market environment but is
also feeling the economic impact. Our organic growth in 2018 in the
automotive segment was somewhat slower than in the previous year. However,
with the distribution of the dividend, we are acknowledging the Group's
strong position and allowing shareholders to participate in the Company's
success," said Manfred Pretscher, Chief Executive Officer of Grammer AG.

*Company profile*

Located in Amberg, Germany, Grammer AG specializes in the development and
production of components and systems for automotive interiors as well as
suspended driver and passenger seats for onroad and offroad vehicles.
In the Automotive Division, we supply headrests, armrests, center console
systems, high-quality interior components, operating systems and innovative
thermo-plastic solutions to premium automakers and automotive system
suppliers.
The Commercial Vehicles Division comprises seats for the truck and offroad
seat segments (tractors, construction machinery, forklifts) as well as train
and bus seats.
With over 15,000 employees, Grammer operates in 19 countries around the
world. Grammer shares are listed in the Prime Standard and traded on the
Frankfurt and Munich stock exchanges via the electronic trading system
Xetra.

Contact:
GRAMMER AG
Boris Mutius
Phone: 0049 9621 66 2886
investor-relations@grammer.com

2019-07-12 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: Grammer AG
Georg-Grammer-Str. 2
92224 Amberg
Germany
Phone: +49 (0)9621 66-0
Fax: +49 (0)9621 66-1000
E-mail: investor-relations@grammer.com
Internet: www.grammer.com
ISIN: DE0005895403, DE0005895403
WKN: 589540, 589540
Listed: Regulated Market in Frankfurt (Prime Standard), Munich;
Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg,
Stuttgart, Tradegate Exchange
EQS News ID: 840679

End of News DGAP News Service

840679 2019-07-12



(END) Dow Jones Newswires

July 12, 2019 08:29 ET ( 12:29 GMT)
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