Porsche 2009 Annual Report Download - page 52

pervisory board had already established an audit and
a nomination committee, as required by the Code.
Moreover, with regard to the current fiscal
year, Porsche SE already complies with the recom-
mendation to make the consolidated financial state-
ments publicly accessible within 90 days of the end of
the fiscal year and the interim reports within 45 days
of the end of the reporting period.
Publication of the declaration of compliance
Porsche SE has issued the declaration of
compliance as required by Sec. 289a German Com-
mercial Code (HGB). It can be viewed at www.porsche-
se.com/pho/en/investorrelations.
Porsche SE’s annual general meeting
well-attended
Around 5,700 people attended the annual
general meeting of Porsche SE held on 29 January
2010 at the Porsche Arena in Stuttgart. The annual
general meeting approved a dividend for the fiscal
year 2008/09 of 0.044 euro per ordinary share and
0.050 euro per preference share. The total net profit
available for distribution in the fiscal year 2008/09
was thus distributed to the shareholders. After the
withdrawal of 1 billion euro from retained earnings,
this amounts to 8.23 million euro.
Changes on Porsche SE’s supervisory board
The annual general meeting of Porsche SE
elected His Excellency Sheik Yassim bin Abdulaziz bin
Yassim Al-Thani to the supervisory board of the com-
pany. He replaced the former member of the supervi-
sory board, Hans-Peter Porsche, who retired from of-
fice effective as of the end of the annual general
meeting on 29 January 2010. Sheik Yassim bin Abdu-
laziz bin Yassim Al-Thani has been appointed for the
remaining four-year period of Hans-Peter Porsche’s
appointment. Qatar Holding LLC holds ten percent of
the ordinary shares of Porsche SE through a wholly
owned subsidiary Qatar Holding Germany GmbH,
Frankfurt am Main. Sheik Yassim bin Abdulaziz bin
Yassim Al-Thani is the chairman of the board of Qatar
Foundation International, USA, and is also a member
of the boards of Qatar National Bank, InvestCorp Bank
and Qatar Foundation Endowment Fund.
Change in Porsche SE’s fiscal year
With regard to the creation of the integrated
automotive group with Volkswagen, the annual general
meeting of Porsche SE decided on 29 January 2010
that the fiscal year of the company, which ran from
1 August to 31 July of the following year, should be
changed to run concurrently with the calendar year
effective 1 January 2011. A short fiscal year will be
created for the period from 1 August 2010 to
31 December 2010. In addition, an amendment to the
articles of association relating to the business objec-
tive of Porsche SE was passed. This makes it possi-
ble for Porsche SE to act as a pure holding company,
in particular with regard to its investment holding in
Volkswagen AG. Both amendments to the articles of
association were entered in the commercial register
in mid-March 2010, rendering them effective.
52 Group management report