SolarWorld AG / Miscellaneous
20.05.2010 18:09
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System of Management Board Remuneration Accepted - Large Majority for Other
Agenda Items
The roughly 1,000 shareholders and shareholder representatives present
carried all items on the agenda of today's eleventh ordinary Annual General
Meeting of SolarWorld in Bonn with a large majority and also discharged the
Management Board and the Supervisory Board. 'In doing so the stockholders
once again expressed their great satisfaction with the corporate
management,' explained Dr. Claus Recktenwald, Chairman of the Supervisory
Board of SolarWorld AG. 'The Management Board and above all the employees
at the worldwide SolarWorld sites did again excellent work in fiscal 2009
and thus had a hand in shaping the successful business development achieved
by SolarWorld.'
In 2009, the fiscal year under review, SolarWorld AG was able to exceed the
one billion Euro revenue mark for the first time and strengthened its
international position as a quality manufacturer. As a token of the sound
future prospects of the company the Supervisory Board and the Management
Board proposed a dividend increase to EUR 0.16 (previous year: EUR 0.15) to
the Annual General Meeting. The disbursement of this sum will take place on
21 May 2010. This means that shareholders will participate in the success
of the company for the tenth time in succession. The largest part of the
balance sheet profit will be allocated to revenue reserves. Frank H.
Asbeck, Chairman and CEO of SolarWorld AG, 'In this way we sustainably
strengthen the capital base of the group and secure a sound basis for our
worldwide growth as a quality brand of solar power technology.'
The system of Management Board remuneration also attracted a large
majority. With this item of the agenda the management met the requirements
of the new German Act on the Appropriateness of Management Board
Remuneration. Already in the previous year the shareholders of SolarWorld
AG had given a signal supporting appropriate management salaries in
Germany: At the Annual General Meeting in May 2009 shareholders had voted
in favor of limiting Management Board pay. The Chairman of the Supervisory
Board Dr. Claus Recktenwald, 'We continue to be the first and only stock
corporation in Germany in which the Management Board, the Supervisory Board
and the AGM have reached agreement on the capping of management
remuneration. The organs of our company are therefore much closer together
than required by the new Act on the Appropriateness of Management Board
Remuneration.'
About SolarWorld AG: The SolarWorld AG Group (ISIN: DE0005108401) is a
worldwide leader in offering brand-name, high quality, crystalline
solar-power technology. Its strength is its fully integrated solar
production. From silicon as the raw material through wafers, cells and
modules all the way to turn-key solar systems, including recycling, the
group combines all stages of the solar value chain. The central business
activity is selling quality modules into the installation and distribution
trades and crystalline wafers to the international solar cell industry.
Group headquarters are located in Bonn, Germany. Production sites are to be
found in Germany, the United States and South Korea. The group's largest
production facilities operate in Freiberg, Germany and Hillsboro in the
U.S. State of Oregon. Sustainability is the basis of the group strategy.
Under the name Solar2World, the group supports care projects using off-grid
solar-power solutions in emerging economies and developing countries,
exemplifying sustainable economic development. Worldwide, SolarWorld
employs more than 2,700 people. SolarWorld AG has been quoted on the stock
exchange since 1999 and today is listed on, among others, the TecDAX,
ÃkoDAX, Dow Jones STOXX 600 as well as in the sustainability indices
DAXglobal Alternative Energy and NAI.
Investor Relations: Tel.-No.: 0228/55920-470; Fax-No.: 0228/55920-9470,
E-Mail: placement@solarworld.de
Presse: Tel.-No.: 0228/55920-400, E-Mail: press@solarworld.de
Internet: www.solarworld.de
20.05.2010 18:09 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|]
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Language: English
Company: SolarWorld AG
Martin-Luther-King-StraÃe 24
53175 Bonn
Deutschland
Phone: +49 (0)228 - 559 20 470
Fax: +49 (0)228 - 559 20 99
E-mail: placement@solarworld.de
Internet: www.solarworld.de
ISIN: DE0005108401
WKN: 510840
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), Düsseldorf;
Freiverkehr in Berlin, München, Hamburg, Stuttgart;
Terminbörse EUREX
End of News DGAP News-Service
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DGAP-News: Annual General Meeting of SolarWorld AG Approves Increased Dividend of EUR 0.16
| Source: EQS Group AG