DGAP-Adhoc: CTS Eventim AG & Co. KGaA: Change in the proposal for the appropriation of profits to the Annual General Meeting
DGAP-Ad-hoc: CTS Eventim AG & Co. KGaA / Key word(s): Dividend
CTS Eventim AG & Co. KGaA: Change in the proposal for the appropriation of profits to the Annual General Meeting
06-May-2020 / 18:31 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Ad-hoc announcement
Public disclosure of inside information according to article 17 directive (EU) No. 596/2014 (Market Abuse Directive)
Change in the proposal for the appropriation of profits to the Annual General Meeting
Munich, 6 May 2020. The Management Board of CTS EVENTIM AG & Co. KGaA today approved an amended proposal for the appropriation of profits to the Annual General Meeting.
In view of the high economic uncertainty due to the COVID-19 pandemic, which will continue to prevail for the time being, it will be proposed to the Annual General Meeting to suspend the dividend for the year 2019 and to carry forward the net profit for the financial year 2019 to new account. This should proactively further strengthen the Company's liquidity position and improve the Company's financial flexibility.
In accordance with the new rules of the German Stock Corporation Act recently created in the wake of the COVID-19 crisis, the Annual General Meeting 2020 is to be held as an online Annual General Meeting without physical participation of shareholders on 19 June 2020.
About CTS EVENTIM
CTS EVENTIM is one of the leading international providers of ticketing services and live entertainment. In 2019, around 250 million tickets were marketed using the company's systems - be it through stationary box offices, online or from mobile terminals. Its online portals operate under brands such as eventim.de, oeticket.com, ticketcorner.ch, ticketone.it and entradas.com. The EVENTIM Group also includes many concert, tour and festival promoter companies for events like 'Rock am Ring', 'Rock im Park', 'Hurricane', 'Southside' and 'Lucca Summer'. In addition, some of Europe's most renowned venues are operated by CTS EVENTIM, for example the LANXESS Arena in Cologne, the K.B. Hallen in Copenhagen, the Waldbühne in Berlin and the EVENTIM Apollo in London. CTS EVENTIM AG & Co. KGaA (ISIN DE 0005470306) has been listed on the stock exchange since 2000 and is currently a member of the MDAX segment. In 2019, its 3,202-strong workforce generated more than 1.4 billion Euro in sales revenue in 21 countries.
For further information, please contact:
Corporate Communications:
Thomas Kollner
Tel.: +49.40.380788.7299
thomas.kollner@eventim.de
Investor Relations:
Marco Haeckermann
Vice President Corporate Development & Strategy
Tel.: +49.421.3666.270
marco.haeckermann@eventim.de
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