Lloyd Fonds : Shareholders approve dividend of 16 Cent per share at the annual general meeting; Dr. Stefan Rindfleisch new chairman of the Supervisory Board

Shareholders approve dividend of 16 Cent per share at the annual general meeting; Dr. Stefan Rindfleisch new chairman of the Supervisory Board

• Profit transfer agreement and authorized capital approved

Hamburg, May 24, 2017. At this year's annual general meeting, the shareholders of Lloyd Fonds AG approved (99,7 percent) the proposal put forward by the Supervisory Board and the Management Board to distribute a dividend of EUR 0.16 per share for 2016 (previous year: EUR 0.07). This resolution was based on the net profit for 2016 of EUR 3.3 million determined in accordance with the German Commercial Code for the year ending December 31, 2016. This translates into an unappropriated surplus of EUR 3.9 million under the German Commercial Code. Net profit calculated in accordance with IFRS stands at EUR 3.2 million.

On the basis of the dividend-entitled share capital of EUR 9.2 million, the total payout stands at EUR 1.5 million. This is equivalent to a dividend return of around 5.3 percent for the shareholders (closing price on March 20, 2017: EUR 3.04). Consequently, around 45 percent of the unappropriated surplus under the German Commercial Code is being paid out.

The balance of EUR 1.8 million is being carried forward, meaning that Lloyd Fonds AG has an unappropriated surplus of a total of EUR 2.4 million after the dividend distribution. 'We are pleased to be able to pay out a good dividend to our shareholders for the second consecutive year and will be doing everything in our power to continue this dividend policy in the future,' says Dr. Torsten Teichert, CEO of Lloyd Fonds AG.

Dr. Stefan Rindfleisch elected new chairman of the Supervisory Board

At the annual general meeting, the shareholders elected Dr. Stefan Rindfleisch to the Supervisory Board for the first time (99,9 percent). In the ensuing meeting of the Supervisory Board, he was elected chairman to take over from Prof. Dr. Eckart Kottkamp. Rindfleisch, an attorney from Hamburg, has a proven track record in shipping. In particular, he specializes in maritime finance and has been involved in numerous national and international fleet finance transactions, syndication and restructuring as well as container finance.

Profit transfer agreement and authorized capital approved

The shareholders approved a profit transfer agreement between Lloyd Shipping GmbH and the parent company Lloyd Fonds AG (99,9 percent). Under this agreement, the profit generated by Lloyd Shipping GmbH will be taxed at the level of Lloyd Fonds AG in the future. In this way, it will be possible to utilize the unused tax losses arising in the past to lower the group's tax rate.

In addition, the shareholders approved the creation of authorized capital up to EUR 4,6 million (98,7 percent). With the increase for the company's share capital to be increased to up to EUR 4.6 million will heighten the company's flexibility and create additional scope for action in the shareholders' best interests.