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DGAP-News News vom 08.04.2019

Meyer Burger Technology (MBT) - further candidate for the Board of Directors - Urs M. Fähndrich stands for election to protect shareholder interests - for a symbolic remunera-tion fee of CHF 1

DGAP-News: Elysium Capital AG / Key word(s): Personnel

08.04.2019 / 08:57
The issuer is solely responsible for the content of this announcement.


 
Meyer Burger Technology (MBT) - further candidate for the Board of Directors - Urs M. Fähndrich stands for election to protect shareholder interests - for a symbolic remuneration fee of CHF 1

Oxford PV transaction structure fuels distrust among shareholders - another example that on the Board of directors of MBT there is a need for control by independent shareholder representatives who do not come from the nomination network of the previous Board members and who assess each process from the perspective of the capital market or the shareholders, respectively.

The transaction structure around Oxford PV is another example of a chain of failed transactions and questionable corporate governance of the MBT Board of Directors. Various indications that the complicated "triangular placement" at considerable discount by Oxford PV was arranged in advance and carried out with the knowledge and active participation of MBT generate distrust among shareholders and the public. Through this "triangular placement" most existing shareholders were excluded of their subscription rights, many of them were not even given the chance to participate in the placement and the value of the subscription rights not received was redistributed to others.

The public shareholder can only speculate about the motives for this procedure and the incomplete information policy.

Therefore, there is a need for control by shareholder representatives on the Board of Directors who do not come from the nomination network of the previous Board members and who assess each business process from the point of view of the capital market or the shareholders, respectively.
 
 

Elysium Capital, of which Urs M. Fähndrich is owner and Board member, represents shareholders in Meyer Burger Technology holding approximately 4 million shares, including the Teutonia Opportunity Fund. The shareholders represented by us are convinced of Meyer Burger Technology and its potential.

Since Mr. Eric Meurice will no longer be a candidate for the Board of Directors and since by the current Board only four candidates will be proposed for election to the Board of Directors at the forthcoming Annual General Meeting, Urs M. Fähndrich will, as per letter to the Board of Directors dated 5 April 2019, run for election at the forthcoming Annual General Meeting as an additional independent member of the Board of Directors. Dr. Alexander Vogel, currently president of Meyer Burger Technology, has responded on April 5th, 2019 and confirmed that the Nomination Committee of MBT will discuss the candidacy of Urs M. Fähndrich and put it to the vote of the Board of MBT. Furthermore Urs M. Fähndrich has already received several comments of support by various shareholder representatives.

Urs M. Fähndrich has significant financial and capital market experience. He also brings an ownership perspective to the Board of Directors as he has invested a considerable amount in MBT personally and through holdings in investment companies and therefore bears investment risk himself. The owners' point of view is important within the framework of the Board of Directors and has not been sufficiently represented so far. Since the shareholders represented by Elysium Capital have made a considerable investment and will benefit from share price increases of the company, Urs M. Fähndrich - in case of his election - would like to perform his duties on the Board of Directors for a symbolic remuneration fee of CHF 1 in order not to unnecessarily burden the budget of Meyer Burger Technology in difficult times.

Urs M. Fähndrich hopes that the MBT Board of Directors will support his candidacy and propose him for election as a member of the Board of Directors at the Annual General Meeting.

Should the MBT Board of Directors not be able to decide to support Urs M. Fähndrich's candidacy in this sense, he asks to be included in the agenda or the invitation to the Annual General Meeting, respectively, as an additional candidate who will stand as a candidate on his own initiative for the agenda item "Elections to the Board of Directors".

If MBT lists Urs M. Fähndrich as an additional candidate in the agenda or in the invitation to the Annual General Meeting, the company gives shareholders the opportunity, in the interests of positive corporate governance, to decide for themselves whether to elect him as an additional independent member of the Board of Directors or to cast their vote only for the candidates proposed by the Board of Directors. In this way, the Board of Directors can ensure that the Annual General Meeting actually has the highest authority in the company, as required by the Code of Best Practice, and can freely decide on the composition of the Board of Directors.


About the person:

Urs M. Fähndrich M.A. HSG studied in Sankt Gallen (HSG) and New York (Columbia University). He is an experienced investor and serves on the boards of various investment companies, including Elysium Capital Ltd.


Contact:

Dr. oec. HSG Arik Röschke

[email protected]



08.04.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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