LEG Immobilien SE: Annual General Meeting Elects Supervisory Board

by   CIJ News iDesk III
2022-05-19   16:38
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LEG Immobilien SE's third virtual Annual General Meeting was also successfully held today. Due in part to the positive experience of previous years, the Company again decided not to hold a face-to-face meeting to protect shareholders and guests.

Around 300 participants had accepted LEG Immobilien SE's invitation; a total of around 78 percent of the voting capital was represented in the balloting. A total of sixteen agenda items were put to a vote, and all passed with a convincing majority.

Under Item 2 on the appropriation of profits, 99.9 percent of shareholders voted in favor of a dividend of €4.07 per share. This results into an attractive dividend yield of around 4 percent (based on the closing price on May 18, 2022). The dividend can be claimed either in cash or in shares at the shareholder's discretion.

Under Item 9 of the agenda, "Resolution on the election of a new Supervisory Board member", Dr. Katrin Suder was elected to the Supervisory Board of LEG Immobilien SE. As part of its ESG strategy, LEG aims to fill at least one third of its Supervisory Board seats with women by 2022. To achieve this target, a proposal was made to the Annual General Meeting today to reduce the number of Supervisory Board mandates to six and elect Dr. Katrin Suder as a successor to Stefan Jütte and Dr. Johannes Ludewig, who are departing as planned due to reaching the retirement age limit.

Dr. Katrin Suder (50) holds a doctorate in neuroinformatics. After her PhD in theoretical physics, she enjoyed a career at McKinsey (2000–2014). Her focus areas included technology/IT as well as diversity. In 2014, she moved to the Ministry of Defense as Permanent Secretary. Since 2018, she has been the chairwoman of the German government's Digital Council. Dr. Suder is now the second woman on the LEG Immobilien SE Supervisory Board alongside Dr. Sylvia Eichelberg, who was elected to the Supervisory Board for the first time at the last Annual General Meeting.

Under agenda Item 9, re-elected to the Supervisory Board together with Dr. Sylvia Eichelberg by a large majority were:

Dr. Claus Nolting, Munich, independent lawyer
Dr. Jochen Scharpe, Munich, Managing Partner of AMCI GmbH and Re-Turn Immobilien GmbH
Martin Wiesmann, Frankfurt am Main, independent consultant
Michael Zimmer, Pulheim, Managing Partner of FAIR GmbH

At the constituent meeting of the Supervisory Board held immediately afterwards, Michael Zimmer was re-elected Chairman of the Board. His deputy will be Dr. Claus Nolting, who will also head the Risk and Audit Committee. Both have been members of the Supervisory Board for many years and successfully supported the company due to this Board tenure in recent years, helping develop it into the second largest firm in the German residential real estate market. Dr. Katrin Suder will chair the newly formed ESG Committee of the Supervisory Board, which will also include Dr. Sylvia Eichelberg and Martin Wiesmann.