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MEYER BURGER (GERMANY) AG EQS-Adhoc: Annual General Meeting 2021:  Shareholders support the Board of Directors' strategic expansion plan

Directive transparence : information réglementée

04/05/2021 17:45

EQS Group-Ad-hoc: Meyer Burger Technology AG / Key word(s): AGMEGM
Annual General Meeting 2021:  Shareholders support the Board of Directors' strategic expansion plan

04-May-2021 / 17:45 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.


  • In line with the measures taken by the Swiss Federal Council to combat the coronavirus, the 21st Annual General Meeting of Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN) was held today without physical presence of the shareholders on site at the company's headquarters in Thun

Through the independent proxy, 1'090'249'228 registered shares were represented, corresponding to approximately 43.3% of the share capital entered in the company's register. 

At today's Annual General Meeting in Thun, the shareholders of Meyer Burger Technology Ltd approved all but one of the motions proposed by the Board of Directors: 

The General Meeting approved the management report, the annual financial statements, and the consolidated financial statements for the 2020 financial year. The 2020 remuneration report was also approved in a consultative vote.

The Annual General Meeting approved the use of the balance sheet result and granted discharge to the members of the Board of Directors and the Executive Board for the 2020 financial year.

The existing members of the Board of Directors Franz Richter and Andreas R. Herzog and Mark Kerekes were re-elected by the Annual General Meeting. The shareholders also elected attorney Urs Schenker as a new member of the Board of Directors. Franz Richter was elected Chairman of the Board of Directors in a separate vote, and Andreas R. Herzog and Urs Schenker were elected to the Nomination and Compensation Committee.

PricewaterhouseCoopers AG, Bern, were re-elected as auditors for a further year and André Weber was re-elected as the Company's independent proxy.

The Annual General Meeting agreed to redefine the approval period for the remuneration of the Board of Directors for the period from the ordinary Annual General Meeting to the ordinary Annual General Meeting of the following year and to amend the Articles of Association accordingly. Likewise, the maximum total amount of compensation of the Board of Directors and the Executive Committee for the financial year 2021/22 was approved.

In order to provide the Company with flexibility in financing its strategic expansion plan, the Board of Directors has proposed an increase of the authorized and conditional capital. The shareholders approved the increase of the authorized capital with 88.2%, as well as the increase of the conditional capital by 10% of the existing share capital for convertible bonds with 71.9% of the votes in favor. 

Only the increase of the conditional capital for employee stock options by 5% of the existing share capital did not reach the required quorum of two-thirds of the votes with 60.9%. The Board of Directors regrets this result. For the coming growth phase and the successful implementation of its strategic goals, Meyer Burger has signed up top people and needs additional highly trained and dedicated employees, which is why a performance-based employee program has been developed. 

Chairman Franz Richter commented: "The Board of Directors will also seek discussions with shareholders and the proxy advisors for a possible solution."

Video interview with the Chairman and CEO
Recently, Meyer Burger introduced its new high-performance solar modules. With them, Meyer Burger is setting new industry standards. Three different, patent-protected product variants were presented at the premiere, all of which are manufactured in the company's own production facilities in Germany using the proprietary heterojunction/SmartWire technology developed in Switzerland. Research and manufacturing under the same Meyer Burger umbrella help to ensure technology leadership in the long term.

Chairman of the Board of Directors Franz Richter and CEO Gunter Erfurt provide information about the next development steps in a video interview. All voting results and the video are available at: www.meyerburger.com/en/annual-general-meeting
 

Contact:

Meyer Burger Technology AG     
Anne Schneider
Head Corporate Communications
M. +49 174 349 17 90
anne.schneider@meyerburger.com


Dynamics Group AG
Andreas Durisch 
Senior Partner    
T. +41 43 268 27 47 
M. +41 79 358 87 32
adu@dynamicsgroup.ch

 

About Meyer Burger Technology Ltd
www.meyerburger.com

Meyer Meyer Burger is starting production of high-performance solar cells and solar modules in 2021. Its proprietary heterojunction/SmartWire technology enables the company to set new industry standards in terms of energy yield. With solar cells and modules developed in Switzerland and manufactured in Germany according to high sustainability standards, Meyer Burger aims to become a leading European photovoltaic company. The company currently employs around 600 people at research facilities in Switzerland, development and manufacturing sites in Germany and sales offices in Europe, the USA and Asia. 

Meyer Burger was founded in 1953 in Switzerland. As a provider of production systems, the company has shaped the development of the global photovoltaic industry along the entire value chain in recent decades and has set essential industry standards. A large part of the solar modules produced worldwide today are based on technologies developed by Meyer Burger.

The registered shares of Meyer Burger Technology Ltd are listed on the SIX Swiss Exchange (ticker: MBTN).



End of ad hoc announcement
Language: English
Company: Meyer Burger Technology AG
Schorenstrasse 39
3645 Gwatt
Switzerland
Phone: +41 033 221 28 00
E-mail: mbtinfo@meyerburger.com
Internet: www.meyerburger.com
ISIN: CH0108503795
Valor: A0YJZX
Listed: SIX Swiss Exchange
EQS News ID: 1192480

 
End of Announcement EQS Group News Service

1192480  04-May-2021 CET/CEST

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