Grenke AG — AGM Information 2009

May 12, 2009

News Details

Corporate | 12 May 2009 16:28

GRENKELEASING AG: Annual General Meeting of GRENKELEASING AG on the financial year 2008

GRENKELEASING AG / AGM/EGM

Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.

---

* Proposed dividend of 0.60 euros per share accepted
* Approval of all items on the agenda

Baden-Baden, May 12, 2009: At the ordinary Annual General Meeting held in
Baden-Baden on May 12, 2009, the shareholders of GRENKELEASING AG adopted a
resolution for payout of a dividend for fiscal 2008 amounting to EUR 0.60
(previous year: EUR 0.60) per share. The total dividend thus amounts to EUR
8.2 million; the dividend will be paid out on May 13, 2009.

The agenda item 'Appropriation on net balance sheet profit for the year'
was approved to an extent of 89.8 %.

Of the net balance sheet profit posted for the 2008 financial year of EUR
55.7 million, EUR 45.1 million will be allocated to retained earnings and
EUR 2.5 million carried forward to new account into 2009.

The resolutions proposed by the Executive Board and the Supervisory Board
were approved with a substantial majority. Formal approval was given of the
actions of the Executive Board and of the Supervisory Board in the
financial year 2008.

The further resolutions are intended to maintain the flexibility of the
Company. The practice customary in Germany of redeeming own shares serves
to provide the Company with the necessary scope for action to use the
treasury shares as an acquisition currency.

In addition, at the Annual General Meeting a 89.3 % majority vote was cast
in favour of creating an authorised capital in 2009 amounting to EUR 8.5
million which, with the approval of the Supervisory Board, can be used both
against cash and non-cash contributions until May 11, 2014. In return, the
previously authorised capital amounting to EUR 8.5 million was cancelled.

In the course of the Annual General Meeting, the Executive Board explained
the Company's strategy. 'We successfully continued our growth strategy in
fiscal 2008. Particularly gratifying was the fact that with an 18 % rise we
exceeded our planned target for new business in the GRENKE Group including
franchise partners. A growth rate of more than 15% had been targeted. The
32.6 % increase in the CM2 from the Group's new business to EUR 87.8
million attests not only to the dynamics of our growth but also, in a
striking manner, its profitability. We will therefore manage the Group
closely in line with current developments', said Wolfgang Grenke, Chairman
of the Executive Board of the Company headquartered in Baden-Baden, in his
address to the shareholders.

'With group net-profits of EUR 33.1 million, in fiscal year 2008, we have
managed - in a year marked by massive upheavals in the markets - to exceed
the previous year's profits of EUR 32.1 million. This confirms the
robustness of our business model. The consistently high and very profitable
new business was reflected during fiscal year 2008 with a positive
development in operating revenue, which increased significantly in all
positions. The increase in refinancing costs which resulted from the
financial market crisis was thus passed on to the market. The increase in
settlement of claims was within the range of our expectations. Overall our
focus on growing contribution margin as a prerequisite for good
profitability even in challenging macro-economic times is clearly visible.
Unfortunately we did not succeed in escaping the distortions on the forex
markets entirely otherwise we would have recorded an even stronger increase
in earnings. In the situation today a possible volatile development of
refinancing markets and a potential increase in the loss rate pose risks
for the future.' said Dr. Uwe Hack, Deputy Chairman of the Executive Board
of GRENKELEASING AG.

The shareholder meeting held at the Baden-Baden 'Kongresshaus' was attended
by approximately 250 shareholders. About 80.7 % of the Company's common
stock was represented. The Company had also invited numerous schoolchildren
from the region to the Annual General Meeting, including the winners of the
stock exchange simulation organised by the savings bank Sparkasse
Baden-Baden, classes of the business academy (Wirtschaftsoberschule) -
Robert Schuman Schule -in Baden-Baden and students at the commercial
academy (Handelslehranstalt) in Rastatt.

The GRENKE Group (including franchise partners) operates in twenty European
countries and is represented at 20 locations in Germany as well as a total
of 32 locations abroad.

The GRENKELEASING AG Group (excluding franchise partners) operates with
subsidiaries in Belgium, Denmark, Germany, France, the United Kingdom,
Ireland, Italy, the Netherlands, Austria, Poland, Switzerland, Sweden,
Spain and Czechia.

GRENKE Group has a franchise system in place in Finland, Norway, Portugal,
Romania, Slovakia, Spain (Madrid) and Hungary as well as in the Car Leasing
and Factoring Division in Germany.

GRENKELEASING offers contracts predominantly in the field of small-ticket
IT leasing for such products as PCs, notebooks, copiers, printers or
software of a relatively low asset value.

GRENKELEASING AG is listed on the Prime Standard of Frankfurt's Securities
Exchange and is part of the SDAX.

The shares of GRENKELEASING AG are listed on the SDAX of the Frankfurt
Securities Exchange under the identification code GLJ, ISIN DE0005865901.

Information about the company and its products is available for download on
the Internet, at http://www.grenke.de.

The Executive Board

Should you have any queries, please contact:

Renate Hauss
Tel.: +49 -7221/5007-204
Fax: +49 - 7221/5007-112
E-mail: investor@grenke.de
Internet: www.grenke.de

12.05.2009 Financial News transmitted by DGAP

Language: English
Issuer: GRENKELEASING AG
Neuer Markt 2
76532 Baden-Baden
Deutschland
Phone: +49 (0)7221 50 07-204
Fax: +49 (0)7221 50 07-112
E-mail: investor@grenke.de
Internet: www.grenke.de
ISIN: DE0005865901
WKN: 586590
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, München, Düsseldorf, Hamburg

End of News DGAP News-Service

---