ÃÜÌÒAV postpones Annual General Meeting
? Annual General Meeting of ÃÜÌÒAV will not take place on April 17, 2020, due to coronavirus pandemic
? Meeting is postponed to a later date
Response to further spread of coronavirus
Due to the rapid spread of the coronavirus (SARS-CoV-2) in Germany, ÃÜÌÒAV will not be able to hold its Annual General Meeting at the World Conference Center Bonn on April 17, 2020, as convened. This was decided by the Board of Management on Sunday.
The health of employees, shareholders and service providers involved takes absolute priority. By postponing a meeting with physical presence, ÃÜÌÒAV would like to actively contribute to the slowing down of the spread of the coronavirus. In addition, the city of Bonn has prohibited all events of any kind for an unlimited period of time. In view of the current course of the wave of the infection, it cannot be assumed with sufficient certainty that this legal situation will change by April 17, 2020.
As a result of the cancellation of the Annual General Meeting on the original date, the resolution on the use of the distributable profit 2019 and consequently, the payout of the dividend, among other things, will be postponed.
The Annual General Meeting shall be scheduled to take place on a new date within the first eight months of the current financial year as stipulated by the German Stock Corporation Act. ÃÜÌÒAV will inform its shareholders as well as the public of the next steps in due course.
About ÃÜÌÒAV:
ÃÜÌÒAV is one of the world¡¯s leading manufacturers of high-quality polymer materials and their components. With its innovative products, processes and methods, the company helps enhance sustainability and the quality of life in many areas. ÃÜÌÒAV supplies customers around the world in key industries such as mobility, building and living, as well as the electrical and electronics sector. In addition, polymers from ÃÜÌÒAV are also used in sectors such as sports and leisure, telecommunications and health, as well as in the chemical industry itself.
The company is geared completely to the circular economy. In addition, ÃÜÌÒAV aims to achieve climate neutrality for its Scope 1 and Scope 2 emissions by 2035, and the Group¡¯s Scope 3 emissions are also set to be climate neutral by 2050. ÃÜÌÒAV generated sales of EUR 14.2 billion in fiscal year 2024. At the end of 2024, the company had 46 production sites worldwide and employed approximately 17,500 people (calculated as full-time equivalents).
Forward-Looking Statements
This news release may contain forward-looking statements based on current assumptions and forecasts made by ÃÜÌÒAV. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in ÃÜÌÒAV¡¯s public reports which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.