OTI Greentech AG holds successful general meeting

OTI Greentech AG (German securities code (WKN) A0HNE8), an international engineering and technology services group, successfully held its ordinary general meeting 2018 yesterday, on 11 September 2018.

70.41 percent of the share capital was represented at the general meeting. All of the agenda items were passed with a large majority in each case. The detailed voting results are available on OTI Greentech AG’s website in the investor relations section under http://www.oti.ag.

In addition to the ratification of the Managing Board and the Supervisory Board for fiscal year 2017 the general meeting resolved to reduce the share capital by EUR 32,374,836.00 to EUR 1,798,602.00 (previously: EUR 34,173,438.00). The share capital has been reduced in line with the provisions concerning simplified capital reductions (Sections 229 ff. of the Aktiengesetz (AktG – German Public Companies Act) and with a retroactive effect on the financial statements as of 31 December 2017. This agenda item was approved with a majority of 99.99 percent.

Joe Armstrong, OTI Greentech AG’s CEO commented: “We are extremely pleased with this very high approval rate because it shows us that our shareholders are accompanying us on OTI Greentech’s way back to health. The capital reduction primarily serves to adjust for the losses incurred in the past in the financial statements. This capital reduction will make our company more attractive for both our current shareholders and also for future investors and financing partners”.