Sassenberg, October 9, 2017, 3:30 pm – The Board of Management of technotrans AG has, with the consent of the Supervisory Board, resolved to prepare a form-changing conversion of the company into the legal form of a European (public limited-liability) Company (Societas Europaea, SE). It is the intention of the Board of Management and Supervisory Board to preserve a dual-board administrative system for technotrans SE comprising Board of Management and Supervisory Board. The Board of Management resolution and Supervisory Board resolution to commence preparatory activities were passed today.
The Board of Management and Supervisory Board still need to pass resolutions on the terms of conversion that remain to be drawn up. The conditions to be met for the form-changing conversion include the Annual General Meeting of technotrans AG voting in favour of the terms of conversion, and approving the Articles of Incorporation of the future technotrans SE contained in the terms of conversion. Resolution proposals to that effect are to be presented to the 2018 Annual General Meeting of Shareholders. For the form-changing conversion to be registered and therefore to take effect, a procedure for establishing arrangements for employee involvement in the future SE must also be conducted.
The conversion of legal form reflects the continuing European and international focus of the dynamically evolving technotrans Group.