Annual Financial Statement P&I Personal & Informatik AG April 1 ...

P&I Personal & Informatik Combined Management Report (Group and Cooperation)
neither was a Supervisory Board report submitted to the Board of Directors, so that
the annual financial statement as well as the consolidated financial statement are
therefore regarded as not having been approved by the Supervisory Board (§ 171,
Para. 3, Sentence 3, AktG). Consequently, the AGM was then responsible, in
accordance with § 173 Para. 1, Sentences 1 and 2, AktG, for adopting the annual
financial statement as well as approving the consolidated financial statement. A
relevant resolution was scheduled for the AGM that was convened at the request of a
shareholder on September 2, 2010 in accordance with § 122, Para. 1, AktG, so that
the annual financial statement for fiscal 2009/2010 could be adopted and the
consolidated financial statements for fiscal 2009/2010 could be approved. The
consolidated financial statement compiled by the Board of Directors prior to the point
of the publication of the convening of the AGM that was held on September 2, 2010
was not published in order to prevent the markets from being misled.
This declaration is published on the company's website under ‘Investor relations’ as
are all previous declarations.
Relevant details covering corporate governance practises, which have to be
applied in accordance with the legal requirements:
Management and supervisory structure
For P&I AG, 'corporate governance' means management and supervision of the
organisation in a manner that is responsible, transparent and oriented towards
increased shareholder value in the long term. For the Board of Directors and
Supervisory Board, the pre-eminent qualities for good management are sustainability,
transparency and a value-based orientation.
The chief cornerstones of good corporate governance are effective cooperation
between the Board of Directors and the Supervisory Board, safeguarding of the
interests of all parties involved in the company's business success, responsible
handling of risks, abiding by the legal and intra-group regulations as well as open,
reliable and transparent channels of communication.
P&I AG is subject to the German Stock Corporation Act and has a two-tier structure of
management and supervision. It is incumbent on the Board of Directors to carry out
the management of the company under the supervision of the Supervisory Board.
The Board of Directors and the Supervisory Board collaborate closely for the benefit
of the company and maintain regular contact. Four regular meetings of the
Supervisory Board are convened annually at P&I AG. The Board of Directors provides
the Supervisory Board, on a monthly basis, with a comprehensive and up-to-date
picture of business developments, targets, the current risk situation and any deviation
from original targets in business developments. The operations of both the Board of
Directors and the Supervisory Board are governed by the respective Company
bylaws.
Directors’ Dealings
The former members of the Supervisory Board, Robert Vinall and Dr. Thomas Heidel,
acquired one share each in P&I AG on August 4, 2010 at a purchase price of 23.80
euros during fiscal 2009/2010.
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