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At the Annual General Meeting of BMW AG (XETRA: BMWG.DE) late yesterday, and a subsequently held separate meeting of preferred shareholders [Susanne Klatten and Stefan Quandt – AutoCrat], the conversion of preferred shares into ordinary shares was approved.*
“For the weighting of BMW AG in major stock indices such as the DAX or the EURO STOXX 50, it is already the ordinary shares that are decisive as the share class with the highest free‑float market capitalization. As a result of the conversion, their proportion in free float will increase significantly by around 19%,” said Chief Financial Officer Walter Mertl on Wednesday in Munich. “This step therefore strengthens the weighting of BMW AG in relevant indices. The simplified capital structure represents a clear added value for investors and may have a positive impact on the share price performance of the BMW share.”
BMW Group share capital of ~ €616 million will in the future consist solely of ordinary shares. Approval at the Annual General Meeting amounted to 99.99%. The separate meeting of preferred shareholders approved the resolution with 99.77%. The conversion will be brought into effect by way of an amendment to the Articles of Association, with no additional payment obligation for preferred shareholders. The conversion will become effective upon registration of the amendment to the Articles of Association in the commercial register. The BMW AG will announce the exact timing by public notice.
“A single share structure follows the internationally recognized corporate governance principle of “one share, one vote.” This increases the attractiveness of the BMW share, in particular for international and institutional investors,” BMW said.
*AutoInformed on
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
BMW Group to Convert Preferred Shares to Common
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At the Annual General Meeting of BMW AG (XETRA: BMWG.DE) late yesterday, and a subsequently held separate meeting of preferred shareholders [Susanne Klatten and Stefan Quandt – AutoCrat], the conversion of preferred shares into ordinary shares was approved.*
“For the weighting of BMW AG in major stock indices such as the DAX or the EURO STOXX 50, it is already the ordinary shares that are decisive as the share class with the highest free‑float market capitalization. As a result of the conversion, their proportion in free float will increase significantly by around 19%,” said Chief Financial Officer Walter Mertl on Wednesday in Munich. “This step therefore strengthens the weighting of BMW AG in relevant indices. The simplified capital structure represents a clear added value for investors and may have a positive impact on the share price performance of the BMW share.”
BMW Group share capital of ~ €616 million will in the future consist solely of ordinary shares. Approval at the Annual General Meeting amounted to 99.99%. The separate meeting of preferred shareholders approved the resolution with 99.77%. The conversion will be brought into effect by way of an amendment to the Articles of Association, with no additional payment obligation for preferred shareholders. The conversion will become effective upon registration of the amendment to the Articles of Association in the commercial register. The BMW AG will announce the exact timing by public notice.
“A single share structure follows the internationally recognized corporate governance principle of “one share, one vote.” This increases the attractiveness of the BMW share, in particular for international and institutional investors,” BMW said.
*AutoInformed on
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.