Grammer : All boards’ motions adopted at Grammer AG’s annual general meeting; dividend of EUR 1.25 per share approved

Thursday June 14, 2018

Amberg, June 13, 2018 - The shareholders of Grammer AG have accepted the proposal submitted by the Executive Board and the Supervisory Board, passing a resolution to approve a dividend distribution of EUR 1.25 per share at today's annual general meeting. Over 71 percent of the voting-entitled capital was represented at Grammer AG's annual general meeting, thus exceeding the previous year's record percentage.

'Once again, we would like to allow our shareholders to participate substantially in our Company's success this year. At EUR 1.25 per share, the dividend for 2017 comes very close to the previous year's figure. The dividend proposal is based on the Company's economic performance in the previous year,' explained Hartmut Müller, Chief Executive Officer of Grammer AG, in his speech to the shareholders.

Prior to the voting process, the Executive Board presented to the shareholders the Company's figures for 2017, outlining its performance in the current year. Grammer AG's economic position remains favorable and is proceeding according to plan. In particular, Chief Executive Officer Hartmut Müller provided details on the acquisition in May 2018 of US company Toledo Molding & Die Inc., which was the Company's largest takeover to date. He also described at length the business combination agreement that had been entered into with Ningbo Jifeng and, related to this, the planned takeover bid by Grammer AG's Chinese partner, which is also its largest shareholder.

'Grammer will be gaining in Ningbo Jifeng a strong and responsible anchor shareholder that fully supports our Company's strategy. The agreement contains legally binding commitments providing a long-term and successful basis for Grammer's future and safeguards its independence and future development,' says Hartmut Müller.

A further item of the agenda was the approval by the shareholders of the restructured remuneration system for the Executive Board. The proposal for a new remuneration system for the members of the Executive Board was also duly accepted by the shareholders at the annual general meeting. Under the new remuneration system, which applies to all management staff at Grammer, remuneration is also based on the Company's profitable growth, an improvement in capital efficiency and an increase in shareholder value. For this reason, it is substantially more transparent and more performance-oriented than the previous remuneration system.

A large majority of shareholders voted to ratify the actions of the Executive Board and the Supervisory Board in 2017. Prof. Dr.-Ing. Birgit Vogel-Heuser, Director of the Institute of Automation and Information Systems at the Technical University of Munich, was elected to the Supervisory Board, after previously being appointed to the Supervisory Board in a court order on July 21, 2017. Other resolutions included the election of Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft, Nuremberg, as statutory auditors for 2018.

Company profile

Located in Amberg, Germany, Grammer AG specializes in the development and production of components and systems for automotive interiors as well as suspension driver and passenger seats for onroad and offroad vehicles.

In the Automotive Division, we supply headrests, armrests, center console systems and high-quality interior components and operating systems to premium automakers and automotive system suppliers. The Commercial Vehicle Division comprises seats for the truck and offroad seat segments (tractors, construction machinery, forklifts) as well as train and bus seats.

With 13,000 employees, Grammer operates in 19 countries around the world.

Grammer shares are listed in the SDAX and traded on the Frankfurt and Munich stock exchanges via the electronic trading system Xetra.

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