VERBIO Vereinigte BioEnergie AG: VERBIO plans conversion into a European Company (Societas Europaea, SE).
VERBIO Vereinigte BioEnergie AG / Key word(s): Miscellaneous
Zörbig/Leipzig, February 20, 2023 – Today, the Management and Supervisory Boards of VERBIO Vereinigte BioEnergie AG have approved a resolution to make preparations to convert the Company into a European Company (Societas Europaea, SE) by means of a change in legal form. The dual management system, consisting of a Management Board and a Supervisory Board as the supervisory body, shall be continued under the SE legal form. The responsibilities and composition of the Management Board and Supervisory Board remain unaffected by the new structure. The Company’s registered office is to remain in Zörbig.
The conversion into the SE legal form requires, among other things, that the General Shareholders’ Meeting of VERBIO Vereinigte BioEnergie AG approves the conversion plan and the articles of association of the future VERBIO SE contained therein. The necessary resolution proposals are to be submitted for approval at an extraordinary General Shareholders’ Meeting to be held in the second half of 2023. For the conversion into the SE legal form to take effect, it is also required that the procedure for the agreement on the employees’ participation in the future VERBIO SE has been completed or terminated prior to registration. According to current planning, the employee participation procedure is expected to be initiated in the near future.
The legal status of the shareholders of VERBIO Vereinigte BioEnergie AG and the stock exchange listing arrangements for the Company’s shares remain unaffected by the SE conversion.
Information about VERBIO Vereinigte BioEnergie AG (VERBIO)
VERBIO AG is one of the leading independent bioenergy manufacturers, and is also the only large-scale producer of biodiesel, bioethanol and biomethane in Europe. The Group has approximately 1,000 employees at its locations in Saxony, Saxony-Anhalt and Brandenburg as well as at its foreign subsidiaries in India, the USA, Canada, Poland and Hungary. VERBIO concentrates on the use of internally developed innovative technologies and efficient energy-saving production processes. VERBIO’s biofuels achieve CO2 savings of up to 90 percent compared to petrol or diesel. The Group’s annual production capacity amounts to approximately 660,000 tonnes of biodiesel, 300,000 tonnes of bioethanol and 1,300 gigawatt hours of biomethane. In addition, VERBIO manufactures biofertiliser and animal feed for agricultural use as well as high-value raw materials for the pharmaceutical, cosmetic and foodstuff industries. With its innovative processes and highly efficient production plants, VERBIO is a technology leader in the biofuels market. The VERBIO share (ISIN DE000A0JL9W6/WKN A0JL9W) has been listed in the prime standard segment of the Frankfurt Stock Exchange since October 2006.
This publication contains forward-looking statements that are based on assumptions and estimates made by the management of VERBIO Vereinigte BioEnergie AG. Although the Company’s management is of the opinion that these assumptions and estimations are realistic, actual future developments and actual future results may differ significantly from these assumptions and estimates due to a variety of factors. For example, these factors can include changes to the overall economic climate, changes to the legal and regulatory framework in Germany and the EU, and changes in the industry. VERBIO can give no guarantee and accepts no liability as to whether future development and the results actually achieved in future will match the assumptions and estimates made in this publication.
20-Feb-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
VERBIO Vereinigte BioEnergie AG
Thura Mark 18
+49 (0)341 308530-0
+49 (0)341 308530-998
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
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