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Northern Data: First Annual General Meeting successfully completed

·5-min read

DGAP-News: Northern Data AG / Key word(s): AGM/EGM
11.11.2020 / 12:00
The issuer is solely responsible for the content of this announcement.


Northern Data: First Annual General Meeting successfully completed

- Management Board provides overview of expansion and confirms forecast

- Top-class new composition of Supervisory Board

- KPMG elected as new auditor

Frankfurt am Main - November 11, 2020 - Northern Data AG (XETRA: NB2, ISIN: DE000A0SMU87) is on its way to becoming the world's leading group for high performance computing (HPC) infrastructure. At the Annual General Meeting 2020 held yesterday, CEO Aroosh Thillainathan and his fellow Management Board members reported on developments in the past financial year 2019 as wells as in detail on the progress made in the Company's expansion and confirmed the forecast. It was the first Annual General Meeting of Northern Data AG after the merger of Northern Bitcoin AG and Whinstone US, Inc.

The Company is currently developing one of the world's largest GPU-based distributed computing clusters for HPC applications at sites in Scandinavia and Canada, working with renowned partners Gigabyte and AMD. The cluster is expected to handle HPC tasks for customers in areas such as artificial intelligence, deep learning, and streaming or rendering movies as early as the first half of 2021. As another major project, Northern Data possesses an HPC data center in Texas, where mainly blockchain applications such as Bitcoin mining are operated for major international customers. Currently, planning is underway for a further major project in Canada.

One of the principal topics of the Management Board's remarks was the adjustment of Northern Data's structures to the Group's rapid growth, including the expansion of the management team to include Stefan Sickenberger (COO) and Dr. Mathias Dähn (CFO). Both, the ongoing acquisition of the Canadian data center specialist KE Group and the massive expansion of the workforce to around 150 employees worldwide are contributing to the strengthening of international business. At the 2020 Annual General Meeting, also a new Supervisory Board was appointed. Dr. Tom Oliver Schorling and Hermann-Josef Lamberti were elected as new members of the Supervisory Board by the shareholders. Dr. Schorling was a partner at the international law firm White & Case for many years and is now a consultant and investor in start-ups and young companies. Mr. Lamberti was, among other things, a member of the Management Board of Deutsche Bank for over a decade as COO with global responsibility for Human Resources, Information Technology and Operations and Process Management. Before, he held various international management positions for the IT group IBM, including as Chairman of the General Management of IBM Germany from 1997.

With the designation of the auditing firm KPMG AG as the new auditor and the conversion of financial reporting to the international IFRS format, Northern Data AG is also taking further decisive steps towards professionalization at the highest global level.

CEO Aroosh Thillainathan: "Our business model falls on fertile ground, as numerous developments and trends are massively fueling the demand for high-performance computing. We are very pleased to have the support of our shareholders, who are accompanying us on our way to becoming a leading global technology group."

The shareholders expressed great satisfaction with the strategy and progress of the Company's expansion. At the time of voting, 66.15% of the Company's registered share capital or 55.80% of the current share capital was virtually represented at the Annual General Meeting of Northern Data AG. The resolutions proposed by the Management were adopted almost unanimously, including the discharge of the Management Board and Supervisory Board.

The voting results and further information on the Annual General Meeting 2020 are available in the Investor Relations section of the Company's website

About Northern Data:
Northern Data AG develops and operates global infrastructure solutions in the field of high performance computing (HPC). With its customer-specific solutions, the company provides the infrastructure for various HPC applications in areas such as bitcoin mining, artificial intelligence, blockchain, big data analytics, IoT or rendering. The internationally active company was formed from the merger of the German company Northern Bitcoin AG and the American company Whinstone US, Inc. and is today a leading provider of HPC solutions worldwide. Northern Data offers its HPC solutions both in large, stationary data centers and in mobile high-tech data centers that can be set up at any location worldwide. The company combines self-developed software and hardware with intelligent concepts for a sustainable energy supply. Northern Data AG, together with Whinstone US and the KE Group, currently employs around 150 people.

Press Contact:
Northern Data AG
Dr. Hans Joachim Dürr
Head of Corporate Communications
Thurn-und-Taxis-Platz 6
60313 Frankfurt
Telefon: +49 69 348 752 89

Investor Relations:
Sven Pauly
Telefon: +49 89 125 09 03 30

This press release does not constitute an offer to sell or the solicitation of an offer to buy or subscribe for any securities of Northern Data AG and does not constitute a prospectus of Northern Data AG. The information contained in this press release is not intended to form the basis of any financial, legal, tax or other business decision. Investment or other decisions should not be made solely on the basis of this press release. As with all business and investment matters, please consult qualified professional advice.

11.11.2020 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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Northern Data AG

Thurn-und-Taxis-Platz 6

60313 Frankfurt/Main



+49 69 34 87 52 25








Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Munich (m:access), Tradegate Exchange

EQS News ID:



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