Hanover, 14 February 2023

AGM of TUI AG paves way for planned capital increase

  • All other agenda items also approved by large majority

At today's 64th Annual General Meeting, the shareholders of TUI AG laid the foundation for the planned capital increase. They voted by a large majority (98.11 per cent) in favor of the proposed reverse stock split at a ratio of 10 to 1. The Group aims to reduce its net debt and interest costs and significantly improve its balance sheet structure. At the end of last year, the TUI AG Executive Board already agreed with the Economic Stabilization Fund (WSF) on a model and timetable for repaying the Corona aid granted by the WSF. 

In addition, the shareholders discharged the members of the Executive Board and the Supervisory Board for the 2022 financial year. All agenda items were approved by a large majority. Attendance including votes cast was 11.2 percent of the capital stock (previous year: 49.06 percent).

The AGM closed at 6:40 p.m. CET. The detailed voting results for all agenda items of the AGM can be found at https://www.tuigroup.com/en-en/investors/agm as of 15 February 2023.

About TUI Group

TUI Group is a leading global tourism group and operates worldwide. The Group is headquartered in Germany. TUI shares are listed on the FTSE 250, an index of the London Stock Exchange, on the regulated market of the Hanover Stock Exchange and on the Open Market segment of the Frankfurt Stock Exchange. The TUI Group offers integrated services from a single source for its 19 million customers.

The entire tourism value chain is covered under one roof. This includes over 400 hotels and resorts with premium brands such as RIU, TUI Blue and Robinson and 16 cruise ships, from the MS Europa and the MS Europa 2 in the luxury class and expedition ships to the Mein Schiff fleet of TUI Cruises and cruise ships at Marella Cruises in Great Britain. The Group also includes leading tour operator brands and online marketing platforms across Europe, five airlines with more than 130 modern medium and long-haul aircraft and around 1,200 travel agencies. In addition to expanding its core business with hotels, cruises via successful joint ventures and activities in holiday destinations, TUI is increasingly focusing on the expansion of digital platforms. The Group is transforming itself into a digital company.

Global responsibility for sustainable economic, ecological and social action is at the core of our corporate culture. The TUI Care Foundation, initiated by TUI, focuses on the positive effects of tourism, on education and training and on strengthening environmental and social standards with projects in 25 countries. It thus supports holiday destinations in their development.