DGAP-News: Snowbird AG / Key word(s): AGM/EGM/Dividend
2015 Shareholder Meeting of Snowbird AG: - All agenda items approved
unanimously - Dividend for 2014 set at EUR 0.25 per share - Continuing
profitable growth expected
20.07.2015 / 19:36
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2015 Shareholder Meeting of Snowbird AG:
- All agenda items approved unanimously
- Dividend for 2014 set at EUR 0.25 per share
- Continuing profitable growth expected
During the shareholders' meeting of Snowbird AG (WKN A1PHEL, ISIN
DE000A1PHEL8), which convened in Munich today, each member of the executive
board, Mr. Yan Changzai as CEO, Mr. Qiu Duoxiang as COO as well as Mr. Lam
Kok Weng as CFO, presented the current achievements of their respective
departments to the present shareholders.
With around 67.98 percent of the share capital represented, the meeting
passed the motions submitted by the senior management unanimously for every
item on the agenda (see the table below).
One of the key items was the distribution of a dividend for the 2014
financial year in the amount of EUR 0.25 per share. The dividend will be
paid to the shareholders by the custodian banks on 21 July 2015 via
Clearstream Banking AG. Paying agent is BNP PARIBAS Securities Services
S.C.A., Frankfurt am Main.
The pre-IPO shareholders have waived their fiscal year 2014 dividend rights
amounting to EUR 7.5 million to show their continuous support to the
company. The waived dividend amount will be utilised to grow the business
of the company. The remaining shareholders, that hold approx. 1.55m shares,
will receive dividend payments of 386,833.50 euro.
Based on the share price of year-end 2014 the dividend yield is approx.
5.0%, based on the current share price it is approx. 4.8%.
Mr. Yan Changzai, CEO of Snowbird AG: "We implemented the planned growth
course in a disciplined manner, and are now well on track to achieve our
set strategic goals."
In 2014, the revenue achieved EUR 191.5m, which is a 39.9% increase
compared to previous year's figures (previous fiscal year 2013: EUR 136.9
million) . Simultaneously profit before tax increased by 39.5% to EUR 53.3m
(p/y: EUR 38.2 million). The first quarter of the current financial year
shows a similar situation: Group sales revenues increased by 38.0% to EUR
34.0 million (Q1/2014: EUR 24.6 million). Profit before tax is EUR 10.9
million (Q1/2014: 5.5 million) and has therefore doubled in Q1/2015
compared to the corresponding period.
On occasion of today's shareholders' meeting, the management board
confirmed the forecast for 2015 to continue growing profitable.
Overview of voting results
Item on the agenda: approval in percent
1. Presentation of the annual report 2014: no vote
2. Appropriation of net profit: 100.0%
3. Formal approval of the actions of the members of the Executive Board:
100.0%
4. Formal approval of the actions of the members of the Supervisory Board:
100.0%
5. Appointment of the auditor for financial year 2015: 100.0%
Information about Snowbird AG as well as the financial reports being
disclosed can be found on the company's website in the internet at:
www.snowbird-ag.com.
End of press release
Snowbird AG - one of largest down processing companies worldwide
Snowbird is one of the world's leading down processors and known for high
quality down-filled textiles and for down bedding, down duvets and down
pillows. With its new state of the art production facility, located in
China, Henan Province, the company is able to process down at highest
quality standards in a sustainable and environmental friendly way. Snowbird
operates very profitable along the value chain from down processing to down
clothing and down bedding production. Products are sold under the brands
"Snowbird" or "Xueniao" or produced as white label based on orders from
third parties.
Investor Relations Contact
Please direct all your requests to:
max. Equity Marketing GmbH
Maximilian Fischer
Marienplatz 2
80331 Munich, Germany
Tel: +49 89 139 28890
E-Mail: ir@snowbird-ag.com
IMPORTANT NOTE - Disclaimer
This publication constitutes neither an offer to sell nor an invitation to
buy securities. The shares in Snowbird AG (the "Shares") may not be offered
or sold in the United States or to or for the account or benefit of "U.S.
persons" (as such term is defined in Regulation S under the U.S. Securities
Act of 1933, as amended (the "Securities Act")). Furthermore, the shares
may not be offered or sold in Japan or to or for the account or benefit of
Japanese citizens.
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20.07.2015 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.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Snowbird AG
c/o HRG Hansische Revisions-Gesellschaft mbH,
Ferdinandstr. 25
20095 Hamburg
Germany
Phone: +49 89 139 28890
E-mail: ir@snowbird-ag.com
Internet: www.snowbird-ag.com/de
ISIN: DE000A1PHEL8
WKN: A1PHEL
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Dusseldorf, Hamburg, Munich,
Stuttgart, Tradegate Exchange
End of News DGAP News-Service
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379391 20.07.2015
DGAP-News: 2015 Shareholder Meeting of Snowbird AG: - All agenda items approved unanimously - Dividend for 2014 set at EUR 0.25 per share - Continuing profitable growth expected
| Source: EQS Group AG