Press releases
9 March 2017, Zwingenberg

BRAIN AG successfully concludes first Annual General Meeting as a stock listed company

  • New Supervisory Board members with high approval elected
  • Change of the auditor as planned
  • New Authorized Capital ensures high flexibility for corporate finance transactions
  • Frank Goebel new Chief Financial Officer (CFO)

Dr Juergen Eck (CEO) particularly focused his speech on last year’s IPO and the business strategy of the BRAIN Group, referring to BRAIN’s two segments. Since the IPO, both segments were expanded further and new milestones have been achieved. As an example, he mentioned the start of the DOLCE program for the production of natural sweeteners with its high growth potential.

“Our goal is to pursue the long-term growth path sketched out for the bioeconomy along with shareholders. We therefore went public at an early stage of our development. And this strategy so far has been successfull“, explained Dr Juergen Eck. “The capital market is increasingly willing to contribute to the expansion of the future sectors around the bioeconomy and to participate in it. This is also due to the positive perception of the bioeconomy topics in public discussions.”

New auditor elected

Pursuant to the regulations of the EU auditor regulation, BRAIN 2016 carried out a tender procedure for the determination of an auditor for the financial year 2016/17. The shareholders approved the proposal of the Supervisory Board to entrust Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft with this mandate. The auditor for fiscal year 2015/16, PricewaterhouseCoopers AG Wirtschaftsprüfungsgesellschaft, was therefore replaced.

Change in the Supervisory Board

At the Annual General Meeting, four of the six Supervisory Board members of BRAIN AG were to be newly elected. In addition to the re-election of Professor Dr Klaus-Peter Koller who has already been a member of the Supervisory Board for many years, Dr Anna Eichhorn, Dr Martin Jager and Dr Georg Kellinghusen were newly elected to the Supervisory Board. Dr Kellinghusen had already been a Supervisory Board member before his term in the Management Board, which started in January 2016.

Creation of a new Authorized Capital

BRAIN AG partially utilised its authorized capital during the IPO in the fiscal year 2015/16 as planned in an amount of € 3.5 million. Against this background, the Annual General Meeting followed the proposal of the Management Board and the Supervisory Board to create a new Authorized Capital in order to enable the company to remain flexible towards potential corporate finance transactions. Until 8 March 2022, the Management Board may increase the share capital once or several times by a nominal amount of up to € 8.2 million by issuing just as many new shares.

Frank Goebel becomes Chief Financial Officer

As previously announced at the end of the fiscal year 2015/16, the appointment of Dr Georg Kellinghusen as a member of the Management Board and Chief Financial Officer of BRAIN AG ended at the conclusion of the Annual General Meeting. Dr Kellinghusen played a major role during the successfull realisation of the BRAIN AG IPO and is now returning to the Supervisory Board. New CFO is Frank Goebel, who joined the BRAIN Group as managing director of the company’s wholly-owned subsidiary BRAIN Capital GmbH in February 2015 and had been appointed to the BRAIN Management Board in November 2016. Dr Juergen Eck (CEO) and Frank Goebel (CFO) now form the two-man executive board of BRAIN AG.

The detailed voting results and the presentation on agenda item 1 (in German language) are available for download on the company’s website at www.brain-biotech.de/en/investor-relations/annual-general-meetings.

© Archiv BRAIN AG

Press Image 1

Hauptversammlung der BRAIN AG am 9.3.2017 in Zwingenberg. V.l.n.r.: Dr. Ludger Müller (Vorsitz Aufsichtsrat), Dr. Jürgen Eck, Dr. Georg Kellinghusen, Frank Goebel

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