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LAIQON AG — AGM Information 2014
Aug 21, 2014
5417_rns_2014-08-21_e7107b41-e478-4b32-adb9-7411de093121.html
AGM Information
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Corporate | 21 August 2014 15:47
Lloyd Fonds Aktiengesellschaft: Annual general meeting for 2014
Lloyd Fonds Aktiengesellschaft / Key word(s): AGM/EGM
21.08.2014 / 15:47
/
Corporate News
Lloyd Fonds AG: Annual general meeting for 2014
– Following on from the profit generated in 2013, the Management Board assumes that it will again be able to report net profit for the first half of 2014.
– This confirms the stability of the company’s current business and the Management Board considers this to provide a solid basis for the development of new activities.
– At the annual general meeting, the shareholders approved a reduction in the company’s capital to improve its balance sheet structure and elected a new member of the Supervisory Board.
Hamburg, August 21, 2014. At the annual general meeting held today (August 21, 2014), the Management Board of Lloyd Fonds AG reported that the company had generated consolidated net profit in both 2013 and in the first half of 2014. Following the substantial turmoil in the markets, which was also reflected in the losses posted by Lloyd Fonds AG, management has thus been able to return the company to profit-making territory.
Consolidated net profit for 2013 came to EUR 1.1 million, thus reversing the loss of almost EUR 2.8 million which had been sustained in the previous year. This favorable performance was materially underpinned by new and recurring portfolio management income, including the integration of several single-ship entities in a new fleet model (“OCEAN MPP”) together with the sale of two assets from the “Vier Einzelhandelsprojekte in Norddeutschland” real estate fund, in which Lloyd Fonds AG itself holds a substantial stake. Earnings were also significantly buoyed by a further reduction in costs.
Current stability and solid capital base providing good strategic foundations
The Management Board of Lloyd Fonds AG considers the company to be well positioned in the current market conditions, which continue to be characterized by strong restraint particularly on the part of retail investors. With the income generated by portfolio management and a solid financial basis – the equity ratio stood at 59.4 percent as of December 31, 2013 – the company is able to adjust its corporate strategy to adapt to changing market conditions. According to CEO Dr. Torsten Teichert, strategic options for the further development of Lloyd Fonds AG are currently being explored.
Resolution passed to reduce the company’s capital to improve its balance sheet structure
One key aspect of the corporate strategy is targeted at additionally improving the quality of the company’s balance sheet. To this end, the shareholders approved a resolution to reduce its share capital. Consequently, the company’s share capital of a current EUR 27,469,927.00 will be reduced in two steps, initially by one share and then on a 3:1 basis by EUR 18,313,284.00 to EUR 9,156,642.00. As a result of this measure, the number of shares held by the shareholders in the company will drop but there will be no change in their relative proportion of its capital. As the share price will rise for technical reasons when the measure is implemented in the stock market (expected for the third quarter), there will be no change in the value of their investment.
In addition, the shareholders elected a new member to the Supervisory Board. Following the departure of Rodney M. Rayburn, Stephen Seymour, managing director of US investment company Värde Partners, was elected as his replacement on the Supervisory Board.
Net profit expected for the first half of 2014
According to Dr. Teichert, Lloyd Fonds AG expects to be able to report profit in the low six digits for the first half of 2014. Further details will be published in the interim report in September.
Special-purpose real estate fund about to be launched
A new special-purpose real estate fund targeted at professional and semiprofessional investors is also to be launched in the near future. It will be investing a total of EUR 80 million, including equity of EUR 50 million, in newly constructed and well-maintained existing buildings in the residential, retail and office segments in the two metropolitan regions of Hamburg and Berlin. A dividend of 5% p.a. is planned. The investment vehicle will be structured as a Luxembourg SICAV and governed in accordance with the AIFM Directive, which took effect in 2013. The capital management company is Hauck & Aufhäuser Investment Gesellschaft S.A., Luxembourg, a subsidiary of Frankfurt-based bank Hauck & Aufhäuser.
About Lloyd Fonds AG:
Lloyd Fonds AG is one of the most established arrangers of investments in alternative real assets in Germany. It specializes in alternative real investments in the transport and real estate segments. To date, the Hamburg-based company has initiated over 100 funds with an investment volume of around EUR 5 billion. Over 53,000 subscribers have placed equity of around two billion euros in investment funds arranged by Lloyd Fonds AG. Lloyd Treuhand GmbH is responsible for managing relations with the subscribers. Lloyd Fonds has been listed on the Frankfurt stock exchange since 2005 (WKN 617487, ISIN code DE0006174873).
Press and IR contact:
Hendrik Duncker
Tel: +49 40 32 56 78-145
Fax: +49 40 32 56 78-99
E-Mail: [email protected]
Contact:
Christiane Brüning
Lloyd Fonds AG
Amelungstraße 8-10
20354 Hamburg
Tel: +49-40-325678-0
Fax: +49-40-325678-99
Mail: [email protected]
21.08.2014 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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| Language: | English |
| Company: | Lloyd Fonds Aktiengesellschaft |
| Amelungstr. 8-10 | |
| 20354 Hamburg | |
| Germany | |
| Phone: | +49 (0)40 32 56 78-0 |
| Fax: | +49 (0)40 32 56 78-99 |
| E-mail: | [email protected] |
| Internet: | www.lloydfonds.de |
| ISIN: | DE0006174873 |
| WKN: | 617487 |
| Listed: | Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart; Frankfurt in Open Market (Entry Standard) |
| End of News | DGAP News-Service |
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