Bastei Lübbe AG holds Annual General Meeting

DGAP-News: Bastei Lübbe AG / Key word(s): AGM/EGM

23.11.2017 / 09:13
The issuer is solely responsible for the content of this announcement.

Bastei Lübbe AG holds Annual General Meeting

Cologne, November 23, 2017. On November 22, 2017 Bastei Lübbe AG (ISIN DE000A1X3YY0), which is listed in the Prime Standard of the Frankfurt Stock Exchange, held its Annual General Meeting on the past financial year 2016/2017 in Cologne. The shareholders approved all of the management's proposals on the agenda with significant majorities.

For example, the attending shareholders of Bastei Lübbe AG followed the management's recommendation to postpone the approval of the conduct of the departed Supervisory Board member and of the Management Board for the 2016/2017 financial year until the next Annual General Meeting. In contrast, the conduct of the serving members of the Supervisory Board was approved by 98,16 percent of the capital in attendance.

Ebner Stolz GmbH & Co. KG, Wirtschaftsprüfungsgesellschaft, Cologne, was elected as the auditor of the financial statements and the consolidated financial statements for the 2017/2018 financial year. At the time of voting, around 61,75 percent of the statutory share capital of Bastei Lübbe was represented at its Annual General Meeting.

The Supervisory Board and the new, complete Management Board kicked off the Cologne media group's shareholders' meeting with a review of the past financial year and a first look at the future: In its presentation, the Management Board reported on the challenging operating development of the 2016/2017 financial year, but also discussed the problem of the write-down on oolipo AG.

Carel Halff, the new CEO since November 1, 2017, then took an optimistic look into the future: "Bastei Lübbe is a great company and, at heart, a large entertainment publisher with strong foundations. But we are faced with the double challenge of increasing efficiency and proceeding with digitalisation. This reorganisation can only be done in stages. I will fight to make this reorganisation a success, and I ask you for your support."

The Management Board's presentation and the voting results have been published at https://www.luebbe.com under investor relations.

About Bastei Lübbe AG:

Bastei Lübbe AG is an internationally active media group with headquarters in Cologne. Its business activities primarily focus on the development and licencing of contents which are sold worldwide in physical and digital formats. The core business of the company in the book segment covers classic publishing and periodically published puzzle magazines and novels. With its total of twelve publishing houses and imprints, the company group currently offers around 3,600 titles in the areas of fiction, non-fiction as well as books for children and young adults. In the growing segment of hardcover fiction books, the company has been the market leader in Germany for many years. At the same time, Bastei Lübbe is an engine for innovation in the area of digital media. Apart from the production of thousands of audio and ebooks, the "digital" business unit also maintains participations in the self-publishing platform "BookRix" and the renowned game publisher "Daedalic Entertainment". The digital value-added chain of Bastei Lübbe AG is rounded off through its participation in the online shop "beam-ebooks.de".

With annual sales of approx. 146.3 million euros (financial year 2016/2017), Bastei Lübbe AG is the largest medium-sized family-run publishing business in Germany. The shares of the company have been listed in the Prime Standard segment on the Frankfurt stock exchange (GSIN A1X3YY, ISIN DE000A1X3YY0) since 2013. Further information is available at www.luebbe.de.

Contact Bastei Lübbe AG:
Barbara Fischer
Head of Press and Public Relations
Tel.: 0221 / 82 00 28 50
E-Mail: barbara.fischer@luebbe.de

23.11.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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