NORMA Group completes conversion into SE
Maintal, 5 July 2013
NORMA Group AG has completed its conversion into a company under European law (Societas Europaea/SE) with the registration in the commercial register of the Local Court of Hanau. It will operate under the registered name NORMA Group SE effective immediately. NORMA Group SE is the holding company of NORMA Group, a global market and technology leader for engineered joining technology.
„The European legal structure SE stands for a modern, entrepreneurial Europe and as such reflects NORMA Group's international and open corporate culture,” said Werner Deggim, CEO of NORMA Group. „Therefore, the conversion is for us and our shareholders consistent with our corporate development and also a commitment to our European home market. With it, we implement in our legal structure what is already a reality for us operationally and in our internal organisational structure.”
The annual general meeting had voted and passed the conversion into an SE on 22 May 2013. On 19 June 2013, the newly constituted supervisory board of NORMA Group SE appointed the members of the board of NORMA Group SE. The company will continue to have its registered office in Maintal, Germany. The dual system consisting of an executive and a supervisory board will also remain in place. As before, the supervisory board will consist of six members, who are elected by the shareholders. Elections to the new SE works council will be held shortly. The SE works council will replace the existing European Works Council.
Upon the effectiveness of the conversion, the shareholders of NORMA Group AG have automatically become shareholders of NORMA Group SE. Similarly, trading in NORMA shares is not affected.