Fraport AG Commended for Its First Post-IPO Annual General Meeting
Over 2,000 shareholders and shareholder representatives attended Fraport AG's regular Annual General Meeting (AGM) today, the first AGM since the company's initial public offering (IPO) on June 11, 2001. Held at the Jahrhunderthalle in Frankfurt-Hoechst, the AGM ran from 10:00 in the morning until shortly after 20:00. In their speeches, different shareholder representatives explicitly supported the airport expansion plans of Fraport AG and the Hesse state government. Executive board chairman Dr. Wilhelm Bender repeatedly earned demonstrative applause for his arguments in favor of strengthening Frankfurt Airport (FRA) and its positive impact on the prosperity of the Frankfurt/Rhine-Main region. Fraport shareholders also responded favorably to learning that Lufthansa recently made a clear statement confirming FRA's role as the airline's main hub airport. Among other agenda items covered during the general discussions, the AGM voted in favor of a dividend payment of ?0.40 per share: with 99.99 percent "yes" votes (agenda item two). Shareholders ratified the executive board's actions in fiscal year 2001 with 99.97 percent "yes" votes (agenda item three). Subsequently, the shareholders ratified the supervisory board's actions with 99.97 percent "yes" votes (agenda item four). KPMG Deutsche Treuhand-Gesellschaft AG Wirtschaftsprüfungsgesellschaft (Frankfurt am Main) was elected as Fraport's auditor for fiscal year 2002: with 99.98 percent "yes" votes (agenda item five). As recommended by the supervisory board, the AGM elected Dr. Manfred Bischoff, Christian Strenger, Prof. Karel Van Miert, and Joachim Vandreike to the supervisory board for the remaining term of members who recently left the board (agenda item six) with 99.98 percent "yes" votes. Roland Koch, prime minister of the German federal state of Hesse and chairman of Fraport AG's supervisory board moderated the AGM. Fraport AG's executive board chairman Dr. Wilhelm Bender presented the fiscal year 2001 results and an overview of the current business year. Some 79 percent of the subscribed capital was represented at the AGM, which accounted for 71,270,490 of the total 90,211,058 shares issued.