DGAP-News: Cherry AG: Annual General Meeting resolves to change the legal form of the company to a European Company (Societas Europaea, SE)

Cherry AG: Annual General Meeting resolves to change the legal form of the company to a European Company (Societas Europaea, SE)

Proposed resolution of Management Board and Supervisory Board adopted with almost 100% of voting rights represented

Around 77.9% of the capital stock represented at the Annual General Meeting

Incumbent Supervisory Board members re-elected

 

Munich, June 8, 2022 – The Annual General Meeting of Cherry AG [ISIN: DE000A3CRRN9] today approved the change of legal form of the Company into a European Company (Societas Europaea, SE) with almost 100% and re-elected the existing members of the Supervisory Board.

„The Management Board and the Supervisory Board are of the opinion that the legal form of the SE is a very good fit for Cherry AG“, comments Rolf Unterberger, CEO of Cherry AG, todays resolution. „The international and modern image of the SE underlines Cherry AG's self-image as a European company based in Germany with an international orientation. The legal form of the SE allows the continuation of the dualistic management system of a German stock corporation with the Management Board as the management body and the Supervisory Board as the supervisory body.“

The internal structure of the Company and the responsibilities of the corporate bodies will not change or will only change insignificantly as a result of the conversion into an SE. The conversion of the Company into an SE will be effected by way of a change of the legal form.

The shareholders will participate in the Company after the conversion to the same extent and with the same number of no-par value shares as before. The conversion will also have no effect on the stock exchange listing of Cherry AG and the tradability of the shares. After the conversion has become effective, the Custodian Banks will convert the securities account holdings from shares in Cherry AG into shares in Cherry SE.

The basis for the planned conversion is the Terms of Conversion drawn up by the Management Board. The Terms of Conversion and the new Articles of Association of Cherry SE attached thereto as an Annex are subject to the approval of the General Meeting, which was granted today. The Terms of Conversion and the Articles of Association of Cherry SE are explained in detail in the Conversion Report, which is available for download together with all other documents on the website of the Company.

In addition, the incumbent members of the Supervisory Board of Cherry AG were re-elected as new members of the Supervisory Board of the future Cherry SE.

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About Cherry

Cherry AG [ISIN: DE000A3CRRN9] is a global manufacturer of high-end mechanical keyboard switches and computer input devices. The business focus is on mechanical keyboard switches for gaming keyboards as well as various computer input devices, which are used in a wide range of applications – especially in the areas of gaming, office, industry and cybersecurity as well as solutions for the healthcare industry. Since its founding in 1953, Cherry, with its two business areas Gaming and Professional, has stood for innovative and high-quality products that are developed specifically to meet the needs of its customers.

Cherry has its operational headquarters in Auerbach in Germany's Upper Palatinate region and employs over 500 people in production facilities in Auerbach, Zhuhai (China) and Vienna (Austria) as well as in several sales offices in Auerbach (Germany), Paris, Kenosha (USA), Taipei and Hong Kong.

More information is available online at: www.cherry.de

Contact:

Dr. Kai Holtmann
Investor Relations
Einsteinstraße 174, c/o Design Offices Bogenhausen, 81677 Munich, Germany
Postal address: Cherrystrasse 2, 91275 Auerbach, Germany
T +49 (0)175-1971503
F +49 (0)9643 20 61-900
E-mail: kai.holtmann@cherry.de