Masterflex SE: Successful AGM with new Supervisory Board

Gelsenkirchen (pta024/15.06.2016/16:15 UTC+2) On Tuesday, 14 June 2016, the Annual General Meeting (AGM) of Masterflex SE was held in the tradition-steeped Schloss Horst again in Gelsenkirchen, where the company is headquartered, with strong participation by the shareholders. With 55.3% of the share capital represented, attendance was higher than the previous year's very respectable level. This is probably attributable to the increased involvement of shareholders with large blocks of shares as well as to a slight decrease in free float as compared to the previous year.

The Supervisory Board members proposed by the management, Dr Gerson Link and Jan van der Zouw, were elected by the AGM with a large majority (see table below). In addition, Mr Bischoping was elected as honorary chairman of the Supervisory Board and received applause and recognition for his many years of commitment to the company (one of the three founders of the company in 1987, managing director from 1987 to 2000 and Chairman of the Supervisory Board from 2000 to 2016). At the constituent meeting of the Supervisory Board immediately after the AGM, Georg van Hall was elected as Chairman of the Supervisory Board. Previously, van Hall held the position of Deputy Chairman; he has been a member of the committee since 2009.

In its report at the Annual General Meeting, the Executive Board particularly discussed the 2015 financial year, product innovations that have recently been launched or are to appear on the market in the near future, and the expansion of the Gelsenkirchen site that has been under way since April. The presentation is available online (http://masterflexgroup.com/de/investor-relations/hauptversammlung.html).
As well as discussing the past year, the shareholders particularly used the general debate to discuss the question of a profit distribution. A shareholder association had put forward a corresponding counterproposal. The Executive Board, which is one of the large-block shareholders with a holding of more than 6%, made it clear that the Masterflex Group is essentially a dividend-paying stock. It stated that if the 2016 financial year should be as successful as expected, then it was highly conceivable that dividend payments would begin in 2017. Dr Andreas Bastin commented: "We will attach great importance to a sustainable dividend policy, i.e. long-term continuity with regard to the amount of the dividend." The time up until then would be used to further increase the efficiency of the company's processes. The management's proposal of retaining the net profit of Eur4.1 million was followed by a majority of 98.5%.

Agenda	Description	Shares with valid votes	Represented share capital %	Yes votes absolute	Yes votes %	No votes %	Abstentions
2	Appropriation of Net Profit	3,621,408	40.85	3,567,388	98.51	54,02	1,279,931
3	Approval of Executive Board	4,352,289	49.09	4,347,927	99.90	4,362	600
4	Approval of Supervisory Board	4,541,822	51.23	4,538,090	99.92	3,732	601
5	Election of auditors	4,900,269	55.27	4,894,433	99.88	5,836	1,07
6	SB elections
6a	Dr. Gerson Link	4,898,864	55.26	4,896,893	99.96	1,971	2,475
6b	Jan van der Zouw	4,899,414	55.26	4,420,296	90.22	479,118	1,925
7	Appointment of honorary chairman	4,900,539	55.27	4,896,077	99.91	4,462	800
8	Approval of Executive Board compensation	4,490,573	50.65	4,481,917	99.81	8,656	410,766
9	Acquisition/utilisation of treasury shares	4,899,938	55.27	4,850,859	99.00	49,079	1,401
10	Authorisation for authorised capital 2016	4,899,227	55.26	4,844,124	98.88	55,103	2,112

A short summary with visual impressions of the AGM at the tradition-steeped Schloss Horst can be found online in a little while at http://masterflexgroup.com/en/investor-relations/annual-general-meeting.html .

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