VIP (Vereinigung Institutionelle Privatanleger) eV

VIPsight . May 2015

(DGAP-Media / 29.05.2015 / 19:00)

VIPsight - May 2015

The German Mittelstand
According to a recent survey, it emerged that one in every five
researchers in academia is thinking of setting up in business. Conducted by
the Institut für Mittelstandsforschung of Bonn among 6000 researchers in 73
universities, the survey was viewed positively as regards German SMEs; the
establishment of a new company is "a very important step in the constant
renewal necessary to the implementation of our economic policies" commented
Dr. Jörg Zeugner, Chief Economist of the KfW banking group. Researchers
possess the innovative knowledge that constitutes a perfect base for
launching start-ups in the field of technology. The path between mulling
the idea and actually setting up is often fraught with hazards and risks;
the pioneering spirit is often stifled by a need for security. The current
edition of "Mannheimer Gründungspanel" is a survey by the Zentrum für
Europäische Wirtschaftsforschung (ZEW) and Creditreform
Wirtschaftsforschung according to which more than 20 percent of young
companies set up in Germany between 2010 and 2013, is treated by at least
one of the founders as a second job - they make their living doing
something else. Read more on VIPsight.eu!

Buhlmann's Corner
The German Federal Republic is still a better shareholder, and it shows

April 30 - the meeting of the shareholders of Commerzbank, the bank that
"from Lehman onwards" hasn't paid out a cent in dividends but has instead
requested ten or so (depending on which brand of arithmetic you use) share
capital increases. The State of Germany, currently owner of 17% of the
bank, was invited to the meeting just like every other shareholder..

So the state sent its representative to Frankfurt. No faceless bureaucrat
nor, by contrast to previous occasions did it delegate the company to vote
for it by proxy. A week before the AGM, the media usually has a fairly
clear idea as to how the voting will go. After the votes on item 9 on the
agenda had been counted, it was obvious that the German Federal Republic
had said "no". Read more on VIPsight.eu!

Companies
Südzucker: nothing sweet in being sued

Things are not going too well for Prime Standard-listed Südzucker AG,
Germany's biggest sugar producer. On the one hand the company is having to
deal with depressed organic fuel and sugar prices and, on the other, being
sued for damages by the confectionary industry for having charged them
higher than market prices for their sugar purchases. Read more on
VIPsight.eu!

People
At their next AGM on May 21, Deutsche Telekom shareholders are expected to
elect Michael Kaschke as a new member to the company's Supervisory Board.
Kaschke, CEO of Carl Zeiss, is proposed to replace Ines Kolmsee who will
shortly join the board of management of EWE. The reason for Kolmsee's
resignation lies in a presumed conflict of interest; an EWE energy group
subsidiary is a telecommunication service provider. Read more on
VIPsight.eu!

VIPsight France
Pierre-Henri Leroy: PhiTrust do it again at Orange : restore the "one share
one vote" principle

With eight other institutional shareholders, representing more than 1% of
the capital of Orange, the French activist fund PhiTrust Active Investors,
advised by Proxinvest, has just tabled on the agenda of the 27 May 2015
General Meeting of Orange a new resolution calling for the retention of the
single voting right in the articles the company. Read more on VIPsight.eu!


End of Media Release

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Issuer: VIP (Vereinigung Institutionelle Privatanleger) eV
Key word(s): Finance

29.05.2015 Dissemination of a Press Release, transmitted by DGAP - a
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363589 29.05.2015