Press releases
7 March 2019, Zwingenberg

Annual General Meeting of BRAIN AG resolves all agenda items with broad majorities

  • Broad majorities for discharging Management Board and Supervisory Board
  • New Supervisory Board members elected by broad majority

At today’s Annual General Meeting of BRAIN AG, 14,049,874 of the total share capital, which is divided into 18,055,782 shares, was represented when the vote was taken. All agenda items, including the new election of two Supervisory Board members, the election of the auditor, and the recasting of an Employee Stock Option Program (ESOP) for executive staff within BRAIN Group were resolved by a broad majority of the participating shareholders.

In his presentation, Dr. Jürgen Eck (CEO, BRAIN AG) addressed the further refinement of the business strategy during the past 2017/18 financial year. Explained Dr. Eck: “In the past financial year, we successfully implemented several measures to strengthen our strategically important product scalable revenues. This included the acquisition of a majority interest in the leading specialty enzyme manufacturer Biocatalysts Ltd., which has state-of-the-art production facilities and a global sales network. The market and product orientation of the BRAIN Group was also strengthened by the establishment of the three business units Nutrition & Health, Skin Care and Industrial BioSolutions as well as the creation of the new Executive Board position of Chief Business Officer.”

Ludger Roedder, who has been acting as Chief Business Officer (CBO) on BRAIN AG’s three-strong Management Board since January 2019, emphasized: “A major focus of BRAIN is on strengthening the product business. Currently, the Group companies already generate more than two thirds of their revenues through product sales. The current portfolio of more than one hundred enzyme products and bio-based ingredients mainly serves the food, health and cosmetics markets. We would like to expand these businesses, which are reflected in the BioIndustrial segment, by acquiring new customers, opening up new market regions and realizing new product developments.”

Manfred Bender, who has been acting as Chief Financial Officer (CFO) on BRAIN AG’s Management Board since January 2019, added: “BRAIN AG achieved double-digit revenue growth in the past 2017/18 financial year, to which the successful acquisition of Biocatalysts Ltd. contributed significantly. In the current 2018/19 financial year, we are aiming for strong organic growth. In view of the good figures for the first quarter, we expect a positive business development with a double-digit increase in total operating performance.”

Change in the Supervisory Board

Two members of BRAIN AG’s Supervisory Board had to be newly elected at the Annual General Meeting. The terms of office of the Supervisory Board Chairman, Dr. Ludger Müller, and the Supervisory Board Member Christian Körfgen regularly expired with the end of the General Meeting. Both were no longer available for a further term of office at their own request due to age or health reasons.

The Chairman of today’s Annual Meeting and the Supervisory Board, Dr. Ludger Müller, and Dr. Jürgen Eck, Chairman of BRAIN AG’s Management Board, in the name of the entire company thanked the member of the Supervisory Board, Christian Körfgen for his strong commitment. Mr. Körfgen was member of the Supervisory Board since January 2016 and most recently member of the Personnel Committee of the board. Dr. Jürgen Eck, in the name of the entire company, especially thanked the leaving longstanding Chairman of the Supervisory Board, Dr. Ludger Müller, who was member of the Board since March 2011. Dr. Müller actively accompanied the company’s transformation from an R&D services provider to an integrated supplier of bio-based products and processes and, since 2012 as Chairman of the Supervisory Board, gave important impetus for the company’s successful development. Most recently he was also Chairman of the Personnel Committee and the Nomination Committee and member of the Audit Committee and the M&A Committee of the Supervisory Board.

Prof. Dr. Bernhard Hauer, Professor at University Stuttgart, and Dr. Michael Majerus, Chief Finance Officer of SGL Carbon SE, were newly elected to the Supervisory Board of BRAIN AG, which continues to be staffed by Dr. Anna C. Eichhorn, Dr. Martin B. Jager, Dr. Georg Kellinghusen and Dr. Rainer Marquart. The new Supervisory Board held its constituting meeting immediately after the Annual General Meeting. Dr. Georg Kellinghusen was elected to the new Chairman of the Supervisory Board of BRAIN AG. The detailed voting results as well as the presentation by the Management Board and all other documents concerning the Annual General Meeting may be found on BRAIN AG’s web site under www.brain-biotech.de/en/investor-relations/annual-general-meetings.

Further Information

About BRAIN

B.R.A.I.N. Biotechnology Research and Information Network AG (BRAIN AG; ISIN DE0005203947 / WKN 520394) is one of Europe’s leading technology companies in the field of industrial biotechnology, the core discipline of Bioeconomy. As such, BRAIN identifies previously untapped, efficient enzymes, microbial producer organisms or natural substances from complex biological systems that can be put to industrial use. The innovative solutions and products developed by help of this “Toolbox of Nature” are successfully applied in the chemistry, the cosmetics and the food industries. BRAIN’s business model is based on two pillars. The BioScience segment comprises mainly of the research and development business with industrial partners (the “Tailor-Made Solutions” cooperation business), and the company’s own research and development. The BioIndustrial segment consists mainly of the industrially scalable products business. Further information is available at www.brain-biotech.de/en.

Disclaimer

This press release contains forward-looking statements. These statements reflect the current views, expectations, and assumptions of the management of BRAIN AG and are based on information currently available to the management. Forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. There are numerous factors which could influence the future performance by and future developments at BRAIN AG and the BRAIN group of companies. Such factors include, but are not limited to, changes in the general economic and competitive environment, risks associated with capital markets, currency exchange rate fluctuations, changes in international and national laws and regulations, in particular with respect to tax laws and regulations, and other factors. BRAIN AG does not undertake any obligation to update or revise any forward-looking statements.

Hauptversammlung der BRAIN AG am 7.3.2019 in Zwingenberg
© BRAIN AG, Deutschland

Press Image

Hauptversammlung der BRAIN AG am 7.3.2019 in Zwingenberg. V.l.n.r.: Manfred Bender (CFO), Ludger Roedder (CBO), Dr. Jürgen Eck (CEO)

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