Progress-Werk Oberkirch AG: PWO conducts its first-ever virtual Annual General Meeting

DGAP-News: Progress-Werk Oberkirch AG / Key word(s): AGM/EGM
29.07.2020 / 10:27
The issuer is solely responsible for the content of this announcement.


Oberkirch, July 29, 2020 - For the first time, PWO has held its Annual General Meeting in a purely virtual form in order to protect the health of all those involved and ensure that the meeting could be held as scheduled.

In his speech, CEO Dr. Volker Simon reported to the shareholders on the 2019 fiscal year and gave a detailed account of the developments in the first half of 2020 along with an explanation about the effects of the corona pandemic on the Group and the measures taken to limit the impact.

He added: "PWO had a successful start to the new fiscal year with a solid first quarter and, as previously reported, was able to steer the unprecedented business slump in the second quarter from a position of strength."

In addition to the dividend policy, the questions submitted in advance by shareholders also concerned, in particular, the corona pandemic and its consequences for the employees, the locations and the product areas. All of the questions submitted were answered during the meeting.

The entire Annual General Meeting was visually and audibly broadcast live on the Internet for registered shareholders and guests. The agenda included the appropriation of retained earnings, the resolutions on the discharge of the management, the election of a new auditor based on the statutory rotation requirement, the creation of new authorized capital and the amendment to the Articles of Incorporation to align with the Act on the Implementation of the Shareholders' Rights Directive ("ARUG II").

All resolution proposals were approved by the Annual General Meeting. The detailed voting results are available on the PWO website. The Annual General Meeting also approved the proposal to waive the payment of a dividend in the current year. KPMG AG Wirtschaftsprüfungsgesellschaft, Stuttgart, was elected as the new auditor, replacing Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft, Stuttgart.

Progress-Werk Oberkirch AG
The Management Board

PWO company profile
PWO is a partner to the global automotive industry for the development and production of advanced metal components and subsystems using lightweight construction. The Group has developed a unique knowledge in the forming and joining of metals over the course of its more than 100-year history since it was founded in 1919. With our expertise in cost-efficient lightweight construction, we contribute to environmentally friendly driving and greater distances.

All of the Group's more than 1,000 products contribute to automotive comfort and safety. More than 90 percent of revenue is independent of the vehicle's type of drivetrain. Approximately 3,000 employees on three continents at five production sites and four assembly plants ensure the highest level of delivery reliability and quality.

29.07.2020 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

show this

Managing your cookie settings

To provide you with the best website experience, we use cookies. These are small text files that are stored on your computer. These include cookies for the operation and optimization of the site as well as for services such as the use of text or video chat and for advertising based on your online usage behavior. For example, it can be recognized if you repeatedly visit our pages from the same device. We would like to give you the choice which cookies you allow:

Show details

Required cookies
These cookies are necessary for you to navigate through the pages and use essential functions.

They enable basic functions, such as the article request and access to the product finder.

Analytical cookies
These cookies help us to better understand user behavior.
Analytical cookies enable the collection of usage and recognition data by first or third-party providers, in so-called pseudonymous usage profiles. For example, we use analysis cookies to determine the number of individual visitors to a website or service, as well as to analyze user behavior on the basis of anonymous and pseudonymous information about how visitors interact with the website. It is not possible to draw any direct conclusions about a person.

Further information