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Progress-Werk Oberkirch AG: Annual General Meeting adopts all resolutions by a large majority

DGAP-News: Progress-Werk Oberkirch AG / Key word(s): AGM/EGM
Progress-Werk Oberkirch AG: Annual General Meeting adopts all resolutions by
a large majority

01.06.2016 / 08:00
The issuer is solely responsible for the content of this announcement.

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- 70 percent of share capital present

- Dividend increases from EUR 1.45 to EUR 1.55

- Composition of Supervisory Board changes

- Company reconfirms 2016 outlook

Oberkirch, June 1, 2016 - At yesterday's 93rd Ordinary Annual General
Meeting of Progress-Werk Oberkirch AG, the Management Board reported on the
key developments in the 2015 fiscal year. The Board's remarks centered on
the Group's continued internationalization and its record new business
volume of roughly EUR 600 million. The immense success can be attributed to
the Group's comprehensive expertise in cost-efficient lightweight
construction and global reach. The Management Board fully reconfirmed its
outlook for the current 2016 fiscal year, which forecasts Group revenue of
approximately EUR 410 million and Group EBIT excluding currency effects of
EUR 20 million.

With a majority of more than 99 percent of the share capital present, all
proposals were almost unanimously adopted by the shareholders. The agenda
items included the presentation of the adopted financial statements, the
appropriation of profits, the discharge of the members of the Management
Board and Supervisory Board, and the appointment of the auditor for the
2016 fiscal year. The Annual General Meeting also extended its sincere
appreciation to Mr. Dieter Maier, who, after 27 years as the chairman of
the Supervisory Board of Progress-Werk Oberkirch AG, retired from his
position effective as of the close of the Annual General Meeting.

Mr. Maier's successor, Mr. Karl M. Schmidhuber, was newly appointed to the
Supervisory Board and will serve for the remainder of Mr. Maier's term. Mr.
Schmidhuber is a former member of the Management Board and as of the close
of the 2014 Annual General Meeting had resigned from the Company after a
successful 20-year career at PWO. In the Supervisory Board meeting
following the Annual General Meeting, Mr. Schmidhuber was elected as
chairman of the Progress-Werk Oberkirch AG's Supervisory Board.

Progress-Werk Oberkirch AG
The Management Board


PWO company profile
PWO is one of the world's leading developers and manufacturers of advanced
metal components and systems in lightweight construction for automobile
safety and comfort. The company has developed a unique knowledge in the
forming and joining of metals over the course of its roughly 97-year
history since it was founded in 1919. The German location at Oberkirch
today employs around 1,500 staff members. The Group is globally represented
with further sites in China, Canada,Mexico, and the Czech Republic. It
employs around 3,100 staff members worldwide.

PW0 is a partner to the global automotive industry for the development and
production of innovative products in the divisions of "Mechanical
components for electrical and electronic applications", "Safety components
for airbags, seats and steering" and "Components and subsystems for vehicle
bodies and chassis".


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01.06.2016 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.

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Language: English
Company: Progress-Werk Oberkirch AG
Industriestraße 8
77704 Oberkirch
Germany
Phone: [phone]
Fax: [phone]
E-mail: [e-mail]
Internet: www.progress-werk.de
ISIN: DE0006968001
WKN: 696800
Listed: Regulated Market in Frankfurt (Prime Standard), Stuttgart;
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Munich


End of News DGAP News Service
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468131 01.06.2016