First Annual Board Meeting: Rosy outlook for PC Specialist
Gütersloh / Bielefeld. The share price of the new markets listing company from Bielefeld, PC specialist AG has jumped in the last year from €21 in January to a current €72.5.
For months the stocks have seemingly outperformed what has become a weakend market.
In spite of this the first annual members meeting had a different tone to it.
The suggestion made by the directors to re-invest the profits of 2.47 Million DM into the company instead of paying shareholders dividends, was met with criticism.
PC Spezialist director Frank Roebers reasoned that the decision was made to re-invest the profits in order to fund future expansion.
One shareholder present at the meeting suggested having the dividend initially paid out and then recalled through increased capital. PC Spezialist founder Thomas Kruse answered using an artcile from Stern magazines article illustrating the fact that this had been done in the past only to the detremental effect of the share price.
Another shareholder remarked that having only 3 board directors for a company of that size (14.5M turnover in 1999 and 34 employees in 2000) was too few.
Frank Roebers raised the hopes for the future with his projections. The number of franchise partners would grow to almost 1500 by 2002 with a realistic turnover of €3 Billion and profits of 50%
The most noise made at the meeting was that surrounding the suggestion that the three supervisory directors Günter Lewald (Haselünne), Eckhard Flohr (Dusseldorf) and Heinz Haller (Stuttgart) were to benefit from an increase in their dividends. This increase would jump from €2000-€4000 up to €10000-€20000 although they only possess 0.17% of all stocks.
This was turned down by a 99% majority of votes (of which André Flottmann and Thomas Kruse possess 68% of the voting rights.
Neue Westfälische NO. 172, Thursday, Jul 27, 2000