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DYNAMICS GROUP AG EQS-News: The shareholder group around Sentis Capital calls for an Extraordinary General Meeting and the election of additional member to the Board of Directors

Directive transparence : information réglementée

13/08/2019 07:50

EQS Group-News: Dynamics Group AG / Key word(s): Miscellaneous
The shareholder group around Sentis Capital calls for an Extraordinary General Meeting and the election of additional member to the Board of Directors

13.08.2019 / 07:50


Media Release of 13 August 2019


The shareholder group around Sentis Capital calls for an Extraordinary General Meeting and the election of additional member to the Board of Directors


The shareholder group around Sentis Capital, consisting of 14 shareholders, has written to Meyer Burger Technology ("MBT") with letter dated 12 August 2019 requesting that an Extraordinary General Meeting be convened to discuss the election of an additional member to the Board of Directors.

The members of the shareholder group who signed the convening notice hold a total of 76'029'960 shares, which is well above the required 10% share in the share capital. At the same time, Sentis Capital PCC will waive its stockholder agenda of July 22, 2019, if the next Extraordinary General Meeting votes on the proposal of the shareholder group to "elect an additional member of the Board of Directors".

The election of a true owner representative to the MBT Board of Directors is extremely urgent. Since the last Annual General Meeting, MBT has lost a lot of investor confidence. Management was unable to turn the euphoria they spread only on 21 March 2019 and the "billion pipeline" announced and confirmed on 2 May 2019 into sales. Even the transaction with Oxford PV did not change this situation.

The share price has almost halved within three months, the order pipeline has dried up and sales have fallen by half. The company is worse off today than it was after the rescue from bankruptcy in December 2016, even though the global photovoltaic market has grown strongly over this period. Although the management of MBT still spread a very positive mood around the Annual General Meeting on 2 May 2019, the new Board of Directors on 22 July 2019 announced the "review of all strategic options".

In this situation, it is essential that a representative of the owners can ensure on the Board of Directors that the owners' view is taken seriously. Direct control by a true owner representative on the company's highest body is needed to restore trust between the company and the owners.

The fact that by far the largest minority group is awarded a seat on the Board of Directors is therefore not only a justified concern, it also reflects international trends in contemporary corporate governance. In countries such as Italy and Portugal, this group of shareholders would even have a legal right to at least one owner representative on the Board of Directors.

The Group is therefore porting Mr. Mark Kerekes. He possesses in-depth knowledge of the solar and financial sectors and has many years of experience as a Board member. He therefore ideally complements the Board of Directors. Mark Kerekes has already advised a shareholder group of more than 10 % of Roth & Rau before and at the time of the takeover by Meyer Burger and is therefore very familiar with its main business, Meyer Burger Germany. He is not seeking confrontation with the Board of Directors, but rather wants to support it in its endeavors to safeguard the interests of the company and its owners and to support the company on its way to success.

An increase in the remuneration of the Board of Directors is not necessary as Mr. Kerekes waives the fee for his services.

An Extraordinary General Meeting can be held quickly and inexpensively if management and the Board of Directors refrain from devoting resources to defending themselves against - in their view - unpleasant shareholder proposals.

In accordance with the legal situation, the Group assumes that the General Meeting will be convened in the next three weeks.


The shareholder group welcomes additional constructive shareholders.

- Capital, through its website www.changemeyerburger.com, receives letters from shareholders calling for even more shareholder engagement almost on a daily basis.

- The shareholder group is therefore open to accept additional constructive shareholders who are willing to support the group in its goals and who own at least 500,000 shares of Meyer Burger Technology Ltd. Interested shareholders can contact Meyer Burger Technology Ltd via the email address shareholdergroup@changemeyerburger.com with their contact details.

- Shareholders should register their shares in the share register of Meyer Burger by using the form of their depositary bank. Without an entry into the share register, you will not receive an invitation to the General Meeting and will not have any voting rights.

 

Attachement:

- Curriculum Vitae Mark Kerekes


For further information, please contact:

Dynamics Group AG
Andreas Durisch
Phone: +41 79 358 87 32
E-Mail: adu@dynamicsgroup.ch


Additional features:

Document: http://n.eqs.com/c/fncls.ssp?u=TSTCCWYKYD
Document title: Sentis_PR_13.08.2019


End of Corporate News


856265  13.08.2019 

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