The shares of the German financial services provider Lang & Schwarz are currently falling sharply in after-hours trading. The reason for this is a press release in which both the postponement of the Annual General Meeting and a profit warning were issued.
Lang und Schwarz commented as follows: “The reason for the cancellation is an interim report in the course of a tax audit, which may be relevant in particular for the resolution on the appropriation of net retained profits for the 2020 financial year, on the proposed amendment to the Articles of Association concerning a share split and on the discharge of the Executive Board and the Supervisory Board (agenda items 2, 3, 4 and 8 of the invitation dated 16 July 2021), but which was unknown in the process to those shareholders who have already instructed the proxy to exercise their voting rights and have thus already de facto exercised their voting rights.”
Specifically, the transactions between 2007 to 2011. The stock is currently at -36 percent in after-hours trading.
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