VERBIO Vereinigte BioEnergie to convert into a European Company

In Germany, 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.