Bastei Lübbe AG: Annual General Meeting with Positive Outlook

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

20.09.2018 / 10:30
The issuer is solely responsible for the content of this announcement.

Bastei Lübbe AG: Annual General Meeting with Positive Outlook

Cologne, September 20, 2018.
On September 19, 2018, Bastei Lübbe AG (ISIN DE000A1X3YY0), listed in the Prime Standard of the Frankfurt Stock Exchange, held its Annual General Meeting on the past financial year 2017/2018 in Cologne. The shareholders approved all of the management's proposals on the agenda with significant majorities.

The Supervisory Board and Management Board began the shareholders' meeting of the Cologne-based media group with a review of the past financial year and a positive look into the future: in its presentation, the Management Board reported on the challenging operating performance of the 2017/2018 financial year and outlined the key points of the efficiency enhancement programme already rolled out.

"Bastei Lübbe is undoubtedly in a year of transition and faces major challenges. However, we are firmly convinced that we have the potential to return to sustainable growth. To do this, however, we have to do our homework, which means increasing efficiency and reducing debt. For us, the glass is clearly half full," says Carel Halff, CEO of Bastei Lübbe AG.

The discussion was followed by votes on the agenda items. The present shareholders of Bastei Lübbe AG followed the recommendation of the administration to postpone the discharge of the retired Supervisory Board and the retired members of the Management Board for the financial year 2016/2017 again until the next Annual General Meeting. In contrast, 99.77 percent of the capital present for the 2017/2018 financial year was discharged for the current members of the Management Board, and 99.76 percent of the capital present for the current members of the Supervisory Board.

The term of office of the acting members of the Supervisory Board ended at the conclusion of the Annual General Meeting so that a new election became necessary. Robert Stein (Managing Director Arcana Capital GmbH), Prof. Dr. Friedrich L. Ekey (Professor at the Rheinische Fachhochschule in Cologne, Business Law) and Dr. Mirko Alexander Caspar (Managing Director Mister Spex) were re-elected as members of the Supervisory Board. At the subsequent constituent meeting of the Supervisory Board, Mr. Robert Stein was appointed Chairman of the Supervisory Board.

Ebner Stolz GmbH & Co. KG, Wirtschaftsprüfungsgesellschaft Steuerberatungsgesellschaft, Cologne, was elected as the auditor of the financial statements and the consolidated financial statements for the 2018/2019 financial year. At the time of voting, around 60.59 percent of the statutory share capital of Bastei Lübbe was represented at its Annual General Meeting.

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 a German publishing house based in Cologne specialising in the publication of books, audio books and e-books with fiction and popular science content. The company's core business also includes the periodically published puzzle magazines and novel volumes. With a total of twelve publishing houses and imprints, the group currently has around 3,600 titles from the fields of fiction, non-fiction and children's and young people's books on offer. In the growing segment of hardcover fiction, the company has been the market leader in Germany for many years. At the same time, Bastei Lübbe is an innovation driver in the field of digital media and distribution channels, among other things through the production of thousands of audio and eBooks. This also includes a stake in the renowned game publisher "Daedalic Entertainment".

With annual sales of around 107 million euros (2017/2018 financial year), Bastei Lübbe AG is one of the largest medium-sized publishing companies in Germany. Since 2013, the company's shares have been listed in the Prime Standard of the Frankfurt Stock Exchange (GSIN A1X3YY, ISIN DE000A1X3YY0). Further information can be found at

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

20.09.2018 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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