22 December 2010

Aixtron completes conversion into European company (SE)

Deposition equipment maker Aixtron AG of Herzogenrath, Germany has completed its conversion from a German company (Aixtron Aktiengesellschaft) into a European company (Societas Europaea, SE) with entry into the commercial register of the Aachen municipal court as Aixtron SE, under which name it will in future operate and report.

An SE legal entity is a public limited-liability company under European law. Aixtron says that the supranational legal form reflects its European and international orientation and is a natural step with respect to its global operations and business development. Nearly half of the firm’s employees work abroad and more than 90% of revenue is generated outside Germany.

The conversion was approved by a large majority of shareholders at the 2010 Annual General Meeting in May. More than 94% of the represented share capital approved the Executive and Supervisory Board’s proposal for conversion from AG to SE.

Negotiations with the staff representatives concerning future staff participation in Aixtron SE were concluded within the statutory period of six months.

The firm’s headquarters will remain in Herzogenrath in the Aachen region. The two-tier system consisting of a Supervisory Board and an Executive Board also remain in effect. All current members of the Supervisory and Executive Boards will retain their original functions in the corresponding boards in the SE. No further changes are planned within the Aixtron Group in conjunction with the conversion. Shareholders of Aixtron AG automatically become shareholders of Aixtron SE, and their shareholders’ rights will not be affected by the conversion. There are also no changes to the manner or content of financial reporting as a result of the conversion.

See related items:

Aixtron reports revenue up 11% in Q3 to record €212.7m

See: Aixtron Company Profile

Tags: Aixtron MOCVD

Visit: www.aixtron.com