FDBusiness.com

Amendment to the Charter of the Carlsberg Foundation

 Breaking News
  • UK Grocery Prices Rising at Fastest Rate in Four Years The latest grocery market share figures from Kantar Worldpanel, for the 12 weeks to 5 November 2017, show UK supermarket sales have increased in value by 3.2% year-on-year in the run up to Christmas. Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel, explains: “Volume sales have increased by less than 1%, meaning it’s [...]...
  • Alcohol Minimum Unit Pricing to Go Ahead in Scotland The UK Supreme Court has ruled that minimum unit pricing for alcohol, which was passed overwhelmingly by the Scottish Parliament in 2012, can now proceed. Scottish Health Secretary Shona Robison has welcomed the decision and confirmed she intends to make a statement to Parliament shortly, setting out the Scottish Government’s next steps. Following the unequivocal backing [...]...
  • GEA Brings Together Technologies to Supply Extended Production Line For BMI GEA has recently been selected to supply an extended pasta filata cheese production line for BMI in Jessen, Germany. With this exemplary project GEA brings together its joint cheese-making expertise, resulting from its acquisition of de Klokslag and CMT in 2014 and 2015 respectively, with GEA’s flow and processing experience to provide a single offering for this [...]...
  • Bosch Packaging Technology Wins German Design Award 2018 The Sigpack VPF (Vertical Platform for Flat Pouches), the first freely scalable flat pouch machine from Bosch, has been honoured with the German Design Award 2018 in the Excellent Product Design category. The German Design Council presents the prestigious award on an annual basis. The German Design Award is the second prestigious accolade for the [...]...
  • Premier Foods Returns to Revenue Growth Premier Foods, the UK convenience food group, has reported group revenue of £353.3 million for the 26 weeks ended 30 September 2017 – an increase of 1.5% on the prior period – with Branded revenue in line with last year at £295.4 million while Non-branded revenue increased by 10.1% to £57.9 million. Group reported half year [...]...

Amendment to the Charter of the Carlsberg Foundation

Amendment to the Charter of the Carlsberg Foundation
October 29
12:53 2013

The Carlsberg Foundation is seeking to change its Charter to allow it to reduce its stake in the Carlsberg Group. The amendment relates to section 14, article 1, which currently stipulates that the Carlsberg Foundation must hold at least 51% of the voting rights and more than 25% of the share capital in the brewing group. According to the amendment, the Carlsberg Foundation must continue to hold at least 51% of the voting rights, while the condition to hold more than 25% of the share capital will be removed.

Flemming Besenbacher, chairman of the Carlsberg Foundation and the Carlsberg Group, says: ”The Carlsberg Foundation is a very committed and long-term shareholder of the Carlsberg Group. Since 1888, when the Foundation became the owner of Carlsberg, the Foundation has carefully respected the legacy of the founder, J.C. Jacobsen, ensuring that the principles of the Foundation continue to be adapted to remain relevant for the present day. In light of this, the change of the Charter is a logical step as it also provides the Carlsberg Group with the opportunity to adapt and continuously develop the business and become an even stronger company. We believe that the change is in the clear interest of all shareholders as well as other stakeholders of the Carlsberg Group.”

In view of the expected changes to the Charter of the Carlsberg Foundation, the Carlsberg Group has reviewed its capital structure and dividend policy.

Jørgen Buhl Rasmussen, chief executive of the Carlsberg Group, comments: ”A change of the Charter of the Carlsberg Foundation will increase the financial flexibility of the Carlsberg Group. We don’t have any plans for capital increases or major structural changes, but in the event that value-enhancing opportunities arise, we can pursue these more easily with the changed Charter. As a result of this, and as the Group continues to deliver a stable and strong cash flow, we have decided to propose a more explicit dividend policy.”

The brewer’s overall capital structure target is to maintain Investment Grade credit quality. Based on this, the Supervisory Board intends to propose at the next Annual General Meeting that dividend pay-outs should equal at least 25% of adjusted net profit. If such a pay-out ratio had been applied for 2012, the dividend paid would have been more than 50% higher. The Supervisory Board will propose to phase in the new dividend policy over a two-year period, so that dividends for the year 2014 (pay-out in 2015) and onwards will be at least 25% of adjusted net profit. The suggested dividend for 2013 will be announced at the time of the full-year results.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • November 28, 2017Fi Europe
  • December 4, 2017Plastics and Paper in Contact with Foodstuffs 2017
  • January 8, 2018RAI Exhibition
  • January 16, 2018Sival Plant Production Trade Show
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements