Provision in the Articles of Association concerning the appropriation of the net result
The provision and the appropriation of the net profit is based upon the Articles of Association and the Agreement State-FMO of November 16, 1998.
The General Meeting will determine which portion of the result of a financial year is reserved or in which way a loss will be incorporated. The Supervisory Board and the Management Board can make a non-binding proposal in accordance with the provision and dividend policy adopted by the General Meeting, taking into account the relevant provisions in the Agreement State-FMO of November 16, 1998.
Proposal for appropriation of the net result
A company net profit of €1 million is recorded in 2022. Considering this profit, the Management Board and Supervisory Board proposes to the Shareholders not to pay out dividends related to 2022. Based on the Agreement State-FMO of November 16, 1998, the proposal is made to allocate €0.04 million of the profit (3.6% of the profit) to other reserves and the remaining profit to the other contractual reserve. No dividends are proposed.