§ 23 - The Management Board shall in the first five months of a financial year prepare annual financial statements and notes, a management report and a corporate governance report for the previous financial year, and shall submit them to the members of the Supervisory Board. The annual financial statements, the management report and the corporate governance report shall be signed by all members of the Management Board.
- The Annual General Meeting shall take place in the first eight months of the financial year. It shall be incumbent on the Annual General Meeting to:
1. receive the annual financial statements and management report prepared by the Management Board and, if applicable, the corporate governance report, the consolidated financial statements and management report, the report of the Supervisory Board as well as the approval of the annual financial statements,
2. resolve on the allocation of accumulated profit,
3. resolve on the acceptance of the reports of the members of the Management Board and the members of the Supervisory Board,
4. appoint the auditor for the current financial year.
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§ 24 The Annual General Meeting resolves on the allocation of accumulated profit every year. The Annual General Meeting may, contrary to the proposed allocation of profits, completely or partially exclude accumulated profits from distribution. The resulting changes to the annual financial statements shall be made by the Management Board. |
