Results of the 12th Annual General Meeting of W.E.B stockholders

Some 700 stockholders were registered for this year’s AGM. However, in line with standard practice to date, four hundred stockholders were represented by proxy, with the result that around 300 persons attended the meeting. At the beginning of the event, EUR 10,633,100 in capital carrying voting rights was present or represented (which corresponded with a nominal stock value of 106,331 shares).

In the course of the meeting, the Management and Supervisory Boards put forward a resolution that a dividend be paid for the first time. This item on the agenda resulted in an intensive and substantial debate among the stockholders, during which the pros and cons of the dividend policy were discussed in a constructive manner.

The subsequent vote then provided a clear majority (82.35%) in favor of the payment of a dividend amounting to EUR 5 per share. The clarity of this decision, will assist partially in determining future W.E.B strategy. From a current perspective, the executive management anticipates that in years to come roughly 30 per cent of the consolidated result will be proposed as a dividend. This leads to the expectation that the attractiveness of the W.E.B share will also be enhanced.

New Supervisory Board elected

The candidates put forward by the Supervisory Board met with a strong vote of confidence on the part of the stockholders and the results of the individual ballots were clear. With effect from June 18, 2011, the membership of the WEB Windenergie AG Supervisory Board is comprised by Josef Schweighofer, Reinhard Schanda (ineligible for re-election on this occasion, as his mandate extends to the 2014), Stefan Bauer and Martin Zimmermann.

In his report at the beginning of the meeting, Andreas Dangl, the company CEO, presented the main aspects of current projects and provided an outlook concerning future activities. In this connection, he also provided information about entry to the Canadian market and the planned issue of a W.E.B bond in 2011. COO Frank Dumeier then reported on matters including the results of the optimization offensive, which has already achieved important targets such as improvements in availability and marked progress with regard to the servicing of large components.

The voting results are contained in the adjacent PDF, as well as in a detailed presentation under the heading 12th Annual General Meeting of Stockholders.