Constantin Medien AG: Shareholders approve proposals of the Management Board

PRESS RELEASE

Constantin Medien: Shareholders approve proposals of the Management Board

- Current Members of Supervisory Board confirmed in office and Management and Supervisory Boards discharged for 2017

- Former Members of Management and Supervisory Boards not discharged

- Retained earnings to be included in profit carried forward to increase equity

Munich | Ismaning, May 9, 2018 - At yesterday's Annual General Meeting (AGM) for the 2017 financial year, with a 82.11 percent presence of its share capital, Constantin Medien AG's shareholders voted by a clear majority to accept the proposals of the Management Board. Accordingly, the current Members of the Management Board and Supervisory Board were discharged for the 2017 financial year. They also confirmed the resolutions of last year's AGM for electing Members to the Supervisory Board. The election resolutions of August 23, 2017 are the subject of a lawsuit filed with Munich Regional Court I. The acceptance of these resolutions reduces the cost to the Company of a long-running judicial dispute and all the legal uncertainties associated with it.

The shareholders also confirmed their decision from last year to appoint Stefan Behrendt as a special representative tasked with enforcing claims for damages against former Management Board Members and the former Chairman of the Supervisory Board Dr Dieter Hahn. In particular this relates to the activities pertaining to the previous AGMs of July 6, 2016 and November 9/10, 2016. In this respect, both the special representative of Constantin Medien AG and the Company itself have already filed suits. Further claims by Constantin Medien against former Board Members are being examined. For this reason, the Company shareholders have not discharged the relevant former Board Members for the 2017 financial year.

"Since the new start at the 2017 AGM, despite the tangled mass of problems left behind, we have managed to get the Group back on track and put the financing on a solid footingˮ, comments Olaf Schröder, CEO of the Constantin Medien Group. "Dr. Matthias Kirschenhofer and I also want to draw a line under the legal disputes - which Constantin Medien has been involved in too often in recent years - as soon as possible. However, this still requires some reassessment, in order to assert the interests of the Company, especially in view of possible non-compliant behavior by former Boards, also by legal means.ˮ


The shareholders also approved by a large majority the management's proposal to carry forward the retained earnings in order to increase the equity for the coming financial year.


Contact:
Contact PR:
Constantin Medien AG, Michael Röhrig, Tel.: +49 (0) 89 - 99 500 461, Fax: +49 (0) 89 - 99 500 466, email: michael.roehrig@constantin-medien.de

Contact IR:
Constantin Medien AG, Stéphane Winzenried, Tel.: +49 (0)89 - 99 500 803, Fax: +49 (0)89 - 99 500 371, email: ir@constantin-medien.de

Constantin Medien AG, Münchener Straße 101g, 85737 Ismaning, Tel.: +49 (0)89 - 99 500 0, Fax: +49 (0)89 - 99 500 111

All information regarding the Annual General Meeting of Constantin Medien AG are available on the Company's website, predominantly in German (www.constantin-medien.de).