asknet AGM decides to reduce capital

(PresseBox) ( Karlsruhe, )
  • All items on the agenda approved as proposed by the management
  • Tax issue in Norway nearly settled
At today’s ordinary annual general meeting, asknet AG CEO Tobias Kaulfuss presented the results of the fiscal year 2016 to the shareholders and outlined the key aspects of the strategy for the current fiscal year.
The shareholders attending this year’s annual general meeting, who represented about 46.57 percent of the share capital, expressed their confidence in both the Executive Board and the Supervisory Board. All items on the agenda, including the resolution proposals for the reduction of the share capital as well as the elections to the Supervisory Board and of substitute members, were approved by a large majority.
The ordinary capital reduction will make it possible to offset the net loss posted in the balance sheet as at December 31, 2016 and to restructure the company’s equity capital. The nominal capital reduction will be made in a 10:1 reverse stock split.
The shareholders also re-elected Dr. Joachim Bernecker (Chairman), Thomas Krüger and Michael Neises to the Supervisory Board and elected Tim Stracke, Ulrich Clemm and Jörn Matuszewski as substitute members.

Tax issue in Norway nearly settled

The Executive Board moreover informed the shareholders that the Norwegian authorities have concluded their investigations and that the Norway issue will probably be settled in this respect already in early August. The Norwegian authorities positively mentioned asknet’s active participation and transparency in clarifying the matter. The amounts imposed were in line with the provisions established for this purpose and the advance payment already made, which means that the result for 2017 will not be adversely affected. By contrast, there is still a possibility to claim damages from third parties, which asknet will continue to pursue.
Tobias Kaulfuss, CEO of asknet AG said: “We can now fully refocus on our operating activities and the completion of our change process. While the situation remains challenging, the current fiscal year shows that the changes we implemented have put us on the right track.”
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