Authorised Capital A
A resolution passed at the Annual General Meeting on 29 April 2015 authorised the Executive Board until 28 April 2020, subject to approval by the Supervisory Board, to increase the issued capital in one or more stages by up to a nominal amount of 561,160,092 EUR through the issue of new no-par value registered shares for cash or non-cash contributions (Authorised Capital A). The shareholders’ subscription rights can be excluded with the consent of the Supervisory Board. The Executive Board was also authorized, with the consent of the Supervisory Board, to define further details of the use to be made of the authorized capital and the implementation of capital increases.
Use have been made of this authorisation in the amount of 13,979,389.44 EUR. As of 07 June 2018, Authorised Capital A amounted to 547,180,702.56 EUR.
Authorised Capital B
A resolution passed at the Annual General Meeting on 29 April 2014 authorised the Executive Board until 28 April 2019, subject to approval by the Supervisory Board, to increase the issued capital by up to EUR 29m, by issuing new registered shares to employees (Authorised Capital B) for payment in cash. Existing shareholders’ subscription rights are excluded.
Use have been made of this authorisation in the amount of 22,208,076.80 EUR. As of 25 October 2018, Authorised Capital B amounted to 6,791,923.20 EUR.
Authorisation to issue convertible bonds or similar - conditional capital increase
A resolution passed at the Annual General Meeting on 28 April 2016 authorised the Executive Board until 27 April 2021, subject to approval by the Supervisory Board, to issue convertible bonds, bonds with warrants or participating bonds – or combination thereof - up to a total nominal amount of 1.5bn. EUR. For the grant of shares to the holders or creditors of above mentioned bonds, the Company's share capital was conditionally increased by up to 237,843,840 EUR by issuing up to 92,907,750 new no-par value registered shares. This provides the Company with a further opportunity to make use, depending on the market situation, of attractive financing alternatives on the capital market.
Details can be found on § 4 of the Articles of Association.
Share buyback authorisation
The Executive Board is authorised, with the consent of the Supervisory Board, to purchase up to 10 per cent of the nominal capital in its own shares.
This gives Lufthansa, like most established listed companies, additional entrepreneurial flexibility. This flexibility can, inter alia, be used to expand the financing alternatives in the case of acquiring another company or equity shares. This AGM resolution renewed the authorisation that was first granted in 2003 and has since been reaffirmed annually. Lufthansa has yet to make use of it.
Capital measures undertaken
In June 2004, Lufthansa undertook a 20 per cent capital increase. The new shares were fully entitled to a dividend for the financial year 2004. They were listed for trading on all German stock exchanges on 17 June.
June 2004 capital increase
|Subscription price||9.85 €|
|Gross proceeds of share issue||752 Mio. €|