Impact of Covid-19: BASF postpones annual shareholders’ meeting

Published: 18 March 2020 - 5 a.m.
By: Martin Menachery
Due to the rapid spread of the coronavirus in Germany, BASF will not be able to hold its annual shareholders’ meeting on 30 April 2020 at the Rosengarten Congress Center as planned. The health of employees, shareholders and the service providers involved takes priority. The state of Baden-Württemberg has banned events with more than 100 participants for the time being until 15 June 2020.

As a result of the postponement of the annual shareholders’ meeting, the proposed dividend cannot be paid out on 6 May 2020 as planned. This is subject to a corresponding resolution on the appropriation of profit by the BASF annual shareholders’ meeting.

Depending on the progression of the virus and the measures imposed by the relevant authorities, BASF aims to hold the annual shareholders’ meeting within the statutory period of six months after the beginning of the fiscal year (until 30 June 2020) for companies with the legal form of a Societas Europaea (SE). According to the applicable provisions of the German Stock Corporation Act, an annual shareholders’ meeting must be held as a physical event.

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