676650 Aurubis AG

Proxy Report - 01/03/2018

General: Aurubis AG is a leading worldwide provider of non-ferrous metals and the world's largest copper recycler. The Company processes complex metal concentrates, scrap metals and metal-bearing recycling materials into metals of the highest quality. Aurubis produces more than 1m tons of copper cathodes per year and has about 6,500 employees, production sites in Europe and the USA and an extensive service and sales system in Europe, Asia and North America.
The Company has issued 44,956,723 shares that amount to a share capital of EUR 115,089,210.88. All shareholders are treated equitably. According to a voting rights notification issued on 27 October 2017, Salzgitter AG reduced its shareholdings in Aurubis AG from 25.00% to 15.75% in the course of redeeming an exchangeable bond issued for shares in the Company.
In financial year 2016/2017, Group revenues increased by 16.52% to EUR 11.04bn, EBIT increased by 161.56% to EUR 462.5m and net income attributable to the shareholders of Aurubis AG increased by 187.96% to EUR 350.9m.
Items 6a, 6e and 6f: We recommend to oppose the (re-)election of Prof. Dr. Heinz Jörg Fuhrmann, Edna Schöne  and Prof. Dr. Fritz Vahrenholt to the Supervisory Board due to our concerns over the insufficient independent representation on the Board and/or concerns over aggregate time commitments.

22/02/2018
14 pages
FR

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Underlying

Basic Resources - Germany

Aurubis AG is a Germany-based company engaged in the production of primary copper and precious metals, the recycling of secondary raw materials and the processing of copper into final products. Its product portfolio comprises rod and specialty wire, such as cast rod, directly cast, oxygen-free copper rod and a variety of drawn products; shapes; industrial rolled products; architectural solutions for surfaces and facades; bars and profiles for the electro-technical industry; cathodes; precious metals, such as gold and silver, which are extracted from copper concentrates and secondary raw materials; sulfuric acid, iron silicate, selenium, and recycled copper, precious metal and other non-ferrous metal products. The Company also operates copper slitting service centers.

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