From ADR to WKN (German securities number) − our answers to your questions.
What does the abbreviation "SE" stand for?
"SE" stands for Societas Europaea. This Latin term means European Company.
What is an SE?
Like the German stock corporation (Aktiengesellschaft, AG), an SE is a commercial company with capital divided into shares and its own legal personality. Unlike the German stock corporation, however, an SE is a European company and as such it has a supranational legal form, which has its legal basis in European Community law.
What does "supranational legal form" mean?
An SE is a company that has its legal basis in European Community law. European Community law is supranational law since it takes precedence over national law. Since an SE is based on supranational law, it constitutes a supranational legal form.
Since when has it been possible to establish an SE?
Establishing an SE has been possible since October 8, 2004.
How many SEs have been formed so far? How many in Germany?
According to surveys by the European Trade Union Institute, more than 600 SEs had been established throughout Europe by March 2010, more than 100 of them in Germany (as at: November 16, 2010).
Are other highly regarded German companies already organized in the legal form of an SE?
Yes, besides AIXTRON, some other well-known German companies are organized in the legal form of an SE, including Allianz SE, BASF SE, MAN Diesel SE, Klöckner & Co. SE, SGL Carbon SE, GfK SE, Interseroh SE and Porsche Automobil Holding SE.
What are the advantages of an SE?
The legal form reflects the global operations of AIXTRON with its roots in the European home market.
It promotes the international corporate culture of the AIXTRON Group.
Capital markets take a positive view of SEs.
SE is highly recognizable from an international perspective.
SE increases flexibility in choosing a location within the EU.
How does the conversion of AIXTRON AG into an SE affect shareholders?
Shareholders in AIXTRON AG automatically became shareholders in AIXTRON SE and shareholder rights are not affected by the conversion.
Does the AIXTRON SE General Meeting have the same responsibilities as that of AIXTRON AG?
By virtue of Art. 52 SE-VO (SE Regulation), the responsibilities of the General Meeting in a German stock corporation (AG) correspond largely to the responsibilities of the General Meeting in an SE with registered office in Germany.
Details of this are presented on pages 36 ff. of the Conversion Report.
Has the WKN (German securities number) or ISIN of AIXTRON shares changed?
The WKN or ISIN of AIXTRON shares has not changed.
Where can the Articles of Incorporation of AIXTRON SE be found?
The Articles of Association of AIXTRON SE can be found here.
Are the SE's reporting obligations different from those of a stock corporation (AG)?
There is generally no change to financial reporting and other reporting obligations. Reporting obligations are based on the rules for a German stock corporation (AG).