- Annual General Meeting of Covestro AG will not take place on April 17, 2020, due to corona-virus pandemic
- Meeting is postponed to a later date
Due to the rapid spread of the corona-virus (SARS CoV 2) in Germany, Covestro AG will not be able to hold its Annual General Meeting at the World Conference Center Bonn on April 17, 2020, as convened. This was decided by the Board of Management on Sunday.
The health of employees, shareholders and service providers involved takes absolute priority. By postponing a meeting with physical presence, Covestro would like to actively contribute to the slowing down of the spread of the corona-virus. In addition, the city of Bonn has prohibited all events of any kind for an unlimited period of time. In view of the current course of the wave of the infection, it cannot be assumed with sufficient certainty that this legal situation will change by April 17, 2020. As a result of the cancellation of the Annual General Meeting on the original date, the resolution on the use of the distributable profit 2019 and consequently, the payout of the dividend, among other things, will be postponed.
The Annual General Meeting shall be scheduled to take place on a new date within the first eight months of the current financial year as stipulated by the German Stock Corporation Act. Covestro AG will inform its shareholders as well as the public of the next steps in due course.
With 2019 sales of EUR 12.4 billion, Covestro is among the world’s largest polymer companies. Business activities are focused on the manufacture of high tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, construction, wood processing and furniture, and electrical and electronics industries. Other sectors include sports and leisure, cosmetics, health and the chemical industry itself. Covestro has 30 production sites worldwide and employs approximately 17,200 people (calculated as full time equivalents) at the end of 2019.
This investor news may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro’s public reports which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments