Positive trend continues
Munich, November 30, 2005 – telegate AG has announced that it will pay a dividend for the first time in 2006. The company plans to start paying dividends on the basis of the net profit expected for 2005, with strong financial results anticipated for this year.
Managing Board and Supervisory Board aim to propose to the Annual Shareholders' Meeting (Annual Shareholders' Meeting date May 17, 2006) for fiscal year 2005 dividend payment in the amount of 10 to 15 million Euro. This corresponds to approximately 0.50 to 0.70 Euro per share or dividend yield of approx. 3.5% based on actual share price. The prerequisite is that no unforeseen events occur until the formal proposal for the appropriation of net income.
The dividend paying capability results from offsetting the loss carryforward accumulated before the turnaround against a portion of the additional paid-in capital in the 2004 financial statements of telegate AG pursuant to Section 150, subsection 4, sentence 1, number 2 of the German Corporation Act (AktG). In its meeting today the Supervisory Board approved a corresponding resolution of the Managing Board. This allows the company to distribute obtained profits much earlier than planned. In this way telegate provides the basis for a long term sustainable dividend policy and further underlines the company’s profitability.
Press contact:
telegate AG
Claudia Strixner
Head of Public Relation
Fraunhoferstr. 12a
D-82152 Martinsried, München
Tel.: (089) 89 54-1180
Fax: (089) 89 54-1189
E-Mail: presse@telegate.com
www.telegate.com
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