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About: http://data.cimple.eu/news-article/6db9f181fa242dee5855ed4431b3b63060c2e050c7247932b59c8771 Goto Sponge NotDistinct Permalink

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	German carmaker Daimler and auto parts supplier Continental said Friday they would delay their annual shareholder meetings, bowing to a ban on large gatherings to contain the spread of the coronavirus. Mercedes-Benz maker Daimler said its April 1 event would be postponed "to a later date in 2020". "This will inevitably lead to a corresponding postponement of the resolution on the allocation of profit and of the dividend payment," it warned. Continental said its investor pow wow on April 30 was cancelled and a new date "will be communicated in due course". "As much as we regret postponing our shareholders' meeting, we fully support the efforts of the authorities to contain the spread of the coronavirus," Continental's chief executive Elmar Degenhart said. All of Germany's 16 federal states have banned large public gatherings, with further decisions following 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. 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	Daimler, Conti postpone investor meet over virus
schema:mentions	Computer virus Dividend Agence France-Presse Stock market Germany Severe acute respiratory syndrome coronavirus 2 German company law Elmar Degenhart Pow wow Powertrain Corporate spin-off Sweyn II of Denmark The Delay Infection control Daimler AG 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	82 (xsd:integer)
http://data.cimple...tology#hasEmotion	anger

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