EQS-News: Pfeiffer Vacuum Technology AG: Pfeiffer Vacuum Shareholders Approve Domination and Profit and Loss Transfer Agreement with Pangea GmbH

PRESS RELEASE

Pfeiffer Vacuum Shareholders Approve Domination and Profit and Loss Transfer Agreement with Pangea GmbH

• Distribution of a dividend of 0.11 per share for fiscal 2022 decided
• Adoption of compensation report and amended compensation system for the Management Board and creation of new authorized capital 2023

Asslar, Germany, May 2, 2023. At todays Annual General Meeting, the shareholders of  Pfeiffer Vacuum Technology AG (Pfeiffer Vacuum) overwhelmingly approved the resolutions put forward by the Management Board and the Supervisory Board. In total, about 81% of share capital was represented.

Domination and profit and loss transfer agreement

Discussions between Pfeiffer Vacuums shareholders and corporate bodies centered on the domination and profit and loss transfer agreement concluded with Pangea GmbH, a wholly owned subsidiary of Busch SE. The shareholders approved the agreement with a majority of 86.58% of the share capital present at the Annual General Meeting.

Dr. Britta Giesen, CEO of Pfeiffer Vacuum, responded with the following words: We would like to warmly thank our shareholders for the great confidence they have shown in us and for the support provided for our future growth plans. 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.

Sami Busch, Co-CEO of Busch SE, commented: We are very pleased about the approval of the domination and profit and loss transfer agreement by the Annual General Meeting and thank the shareholders of Pfeiffer Vacuum for their trust placed in us. This agreement is the next important step towards further expanding the collaboration between Pfeiffer Vacuum and the Busch Group and making it even more agile as well as customer-centric. This will enable us to strengthen our market position yet again. We look forward to a close collaboration with the Management Board and the employees of Pfeiffer Vacuum."

Dividend

For fiscal 2022, the shareholders approved the distribution of a dividend of 0.11 per share (previous year: 4.08). This reduced dividend payment of around 1.1 million (compared to 40.3 million the previous year) supports the strategic course that the company is pursuing, which aims to create the basis for market share gains and healthy long-term growth through a wide-ranging investment programs.

Further resolutions

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.

Further resolutions that were adopted during the Annual General Meeting were the approval of the compensation report and the amendment of the compensation system for the members of the Management Board decided by the Supervisory Board.

The actions of the Management Board and Supervisory Board were also approved by a large majority. For fiscal year 2023, the shareholders appointed PricewaterhouseCoopers GmbH, Wirtschaftsprüfungsgesellschaft, Frankfurt am Main, as auditors of the annual financial statements and consolidated financial statements.

The Annual General Meeting was held this year as an attended event, following the virtual format that was adopted in the three preceding years as a result of the pandemic. With a view to being equipped for all future eventualities, the Annual General Meeting passed a resolution to amend the Articles of Association to authorize the Management Board to hold a virtual Annual General Meeting. Furthermore, an option for members of the Supervisory Board to participate in the Annual General Meeting through video and audio transmission in special circumstances was incorporated into the Articles of Association.

The voting results in detail can be viewed on the Pfeiffer Vacuum website at

https://group.pfeiffer-vacuum.com/agm. 
 

Contact

Pfeiffer Vacuum Technology AG

Investor Relations
Heide Erickson
T +49 6441 802 1360
Heide.Erickson@pfeiffer-vacuum.com

About Pfeiffer Vacuum

Pfeiffer Vacuum (stock exchange symbol PFV, ISIN DE0006916604) is one of the worlds leading providers of vacuum solutions. In addition to a full range of hybrid and magnetically levitated turbopumps, the product portfolio comprises backing pumps, leak detectors, measurement and analysis devices, components as well as vacuum chambers and systems. Ever since the invention of the turbopump by Pfeiffer Vacuum, the company has stood for innovative solutions and high-tech products in the analytical, industrial, research & development, semiconductor and future technologies markets. Founded in 1890, Pfeiffer Vacuum is active throughout the world today. The company employs a workforce of some 4,000 people and has more than 20 sales and service companies as well as 10 manufacturing sites worldwide.

For more information, please go to: group.pfeiffer-vacuum.com