EQS-News: ADVA Optical Networking SE
/ Key word(s): AGM/EGM
Extraordinary general meeting approves domination and profit and loss transfer agreement and elects supervisory board members
The agreement provides for an annual compensation payment pursuant to Section 304 of the German Stock Corporation Act (AktG) for all outside shareholders of ADVA in the amount of EUR 0.59 gross per share and full fiscal year of ADVA (at current taxation, this corresponds to EUR 0.52 net). Alternatively, all outside shareholders have the option to transfer their ADVA shares to Adtran Holdings in exchange for cash compensation in the amount of EUR 17.21 pursuant to Section 305 AktG. The conclusion of the agreement is an important step to deepen the cooperation between ADVA and Adtran Holdings, which started with the conclusion of the Business Combination Agreement on August 30, 2021. The agreement still requires entry in the commercial register of ADVA's registered office to become effective. However, the agreement will become effective at the earliest at the beginning of ADVA's financial year beginning on January 1, 2023. In addition to the resolution on the approval of the contract, the election of supervisory board members was on the agenda. ADVA's shareholders elected Frank Fischer and Eduard Scheiterer to the supervisory board. Frank Fischer, attorney and tax advisor in his own law firm, and Eduard Scheiterer, former managing director of ADTRAN GmbH and SVP for research and product development for ADTRAN, Inc., have already been active as court-appointed members of the supervisory board of ADVA Optical Networking SE since September 2022 and October 2022, respectively. Yesterday's annual general shareholders' meeting has now elected them to the supervisory board, following the candidate proposals of the supervisory board. The elected members succeed Nikos Theodosopoulos and Michael Aquino, who resigned from the company's supervisory board following resignation declarations dated August 4, 2022, and September 24, 2022, respectively. "We would like to thank the departing supervisory board members for their valuable contributions over the years and wish them all the best for their future," said Johanna Hey, chair of the supervisory board. "At the same time, we look forward to working with the new members, who will enrich the board with their proven expertise and international experience."
About ADVA ADVA is a company founded on innovation and focused on helping our customers succeed. Our technology forms the building blocks of a shared digital future and empowers networks across the globe. We’re continually developing breakthrough hardware and software that leads the networking industry and creates new business opportunities. It’s these open connectivity solutions that enable our customers to deliver the cloud and mobile services that are vital to today’s society and for imagining new tomorrows. Together, we’re building a truly connected and sustainable future. For more information on how we can help you, please visit us at www.adva.com.
Published by: ADVA Optical Networking SE, Munich, Germany
For press: Gareth Spence t +44 1904 699 358
For investors: Steven Williams t +49 89 890 66 59 18
01.12.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | ADVA Optical Networking SE |
Märzenquelle 1-3 | |
98617 Meiningen-Dreissigacker | |
Germany | |
Phone: | +49 89 890 665 0 |
Fax: | +49 89 890 665 199 |
E-mail: | IRelation@advaoptical.com |
Internet: | www.advaoptical.com |
ISIN: | DE0005103006 |
WKN: | 510300 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1503341 |
End of News | EQS News Service |
|
1503341 01.12.2022 CET/CEST
The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.
The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.
If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.
For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.
1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.