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Supervisory Board of UMT AG resigns from office due to legal challenge

By 10. May 2024May 21st, 2024No Comments

Supervisory Board of UMT AG resigns from office due to legal challenge

The Supervisory Board of UMT United Mobility Technology AG (“UMT AG”, WKN: A2YN70, ISIN: DE000A2YN702), consisting of Walter Raizner (Chairman), Clemens Jakopitsch (Deputy Chairman) and Stefan Krach (ordinary member), resigned from office on May 8, 2024 with effect from the end of June 8, 2024.

The background to this is an action for annulment relating to the fact that the Supervisory Board was not duly re-elected in 2022 following the expiry of its appointment in accordance with the Articles of Association. In the opinion of the plaintiffs, the Supervisory Board has therefore no longer been legally effective in office since August 31, 2023. A re-election of the Supervisory Board members at the Annual General Meeting on December 5, 2023 is contested. This entails the risk of contestability or nullity of the resolutions for currently pending and necessary Supervisory Board resolutions.

In order to counter this risk and restore the legal certainty of important Supervisory Board resolutions, in particular to support the realignment of the company, the previous Supervisory Board members have resigned their mandates as a purely precautionary measure, so that new Supervisory Board members can now be appointed by the courts. This will restore the ability to act.

The Management Board will immediately apply to the court for the appointment of a new Supervisory Board in accordance with Section 104 AktG. The Management Board will propose suitable candidates who will fully support the new direction taken with their professional expertise. It can be assumed that the court appointment of the Supervisory Board members will be limited in time until the company’s next Annual General Meeting, at which the Supervisory Board will then be newly elected. UMT AG will announce the names of the Supervisory Board members immediately after the court appointment.

The Management Board would like to expressly thank the departing Supervisory Board members Mr. Walter Raizner, Mr. Clemens Jakopitsch and Mr. Stefan Krach for their past work and many years of trusting cooperation.

About UMT AG:

UMT United Mobility Technology AG is an innovative company for the integration, development and implementation of customized solutions for the digitalization and automation of business processes. The self-developed payment hub, AI and, in the future, blockchain will enable UMT AG to be successful in the rapidly growing and sought-after segment of supply chain management solutions. The focus here is on digital and scalable solutions for the B2B segment. In addition to organic growth, UMT AG aims to acquire both customers and technologies through targeted acquisitions of companies. The IT and consulting expertise built up over a decade is the basis for value-creating investments in companies that contribute to the digital transformation of SMEs.

The UMT United Mobility Technology AG share (WKN: A2YN70, ISIN: DE000A2YN702) is traded on the Frankfurt Stock Exchange and is listed on the Basic Board of Deutsche Börse AG.