About: http://data.cimple.eu/news-article/12c710ecd90aefe369fa4eabfa647bf6053d746dd1180a45270e1668

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An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	Mammoth German car parts supplier Continental said Friday it would delay its annual shareholder meeting, bowing to a government ban on large gatherings to contain the spread of the coronavirus. With the investor pow wow on April 30 cancelled, a new date "will be communicated in due course," the Hanover-based group said in a statement. "As much as we regret postponing our shareholders' meeting, we fully support the efforts of the authorities to contain the spread of the coronavirus," chief executive Elmar Degenhart said. Many of Germany's 16 federal states including Continental's base Lower Saxony have banned large public gatherings, with further decisions falling Friday to close schools and shut care homes to visitors in a bid to slow the virus. The infection control measures could squeeze sharply the timeframe available to many companies for their annual meetings. Under German law, they must take place within eight months of the start of firms' financial year. Degenhart said in Continental's view "it makes sense to hold shareholders' meetings online" in the future. "If the legal requirements for this were already in place, it might not be necessary for us to postpone our annual shareholders' meeting," he said. But lawyer Sven Erwin Hemeling of the German Shares Institute told AFP "German company law requires a general assembly in person." The delay means critical business steps requiring investor approval -- like Continental's plan to float powertrain unit Vitesco -- will have to mark time until a vote can take place. "Upon securing these approvals, Continental will strive for an implementation of the spin-off and the subsequent (stock market) listing as soon as possible," the company said. Other companies listed on Germany's DAX index have told AFP shareholder meetings planned for the coming months would go ahead as planned. jpl/tgb/mfp/rl
schema:headline	Auto parts giant Continental delays investor meet over virus
schema:mentions	Jet Propulsion Laboratory Lower Saxony Agence France-Presse Stock market Germany Virus Coronavirus disease 2019 German company law Elmar Degenhart Pow wow Powertrain Corporate spin-off Sweyn II of Denmark The Delay Infection control DAX
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-03-13 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	81 (xsd:integer)
http://data.cimple...tology#hasEmotion	anger

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