MAX Automation SE publishes statement in connection with an application to add to the agenda of the Annual General Meeting on 28 May 2021

PRESS RELEASE 

Dusseldorf, 4 May 2021 - MAX Automation SE (ISIN DE000A2DA58), listed in the Prime Standard of the Frankfurt Stock Exchange, comments in connection with an application to add to the agenda of the Annual General Meeting on 28 May 2021. 

The shareholders Mr. Klaus Schulze and LBBW Asset Management Investmentgesellschaft mbH have requested that their request for a special audit be placed on the agenda of the Annual General Meeting of MAX Automation SE on 28 May 2021 and be published. The company has complied with this request.

The subject of the special audit is to be various facets of the acquisition of the AIM Group by the then M.A.X. Automation AG in 2013.

The subject matter of the audit largely coincides with the facts on which Mr. Klaus Schulze had already based his claim in October 2019 that MAX Automation SE should pursue alleged claims for damages by the Company in the amount of at least EUR 40 million against all members of the Supervisory Board at the time and several former members of the Company's executive bodies (see MAX Automation SE ad hoc announcement dated 8 October 2019). In this letter, it was also announced that legal action would be taken in accordance with section 148 of the German Stock Corporation Act (AktG).

MAX Automation SE had intensively examined the facts and the alleged claims for damages with the assistance of external experts, including a renowned university professor and expert in stock corporation law as well as one of the top four auditing firms. The company came to the conclusion, that the allegations are not true and that there are no such claims for damages by the company against then or former board members (see ad hoc release of MAX Automation SE dated 6 December 2019).

In addition, the Company had explained the situation in a meeting between the lawyer of MAX Automation SE and the shareholder Mr. Klaus Schulze and his lawyers. Lawyers and auditors commissioned by the shareholder Mr. Klaus Schulze had several days to review the extensive documentation. The action for admittance to court pursuant to Section 148 of the German Stock Corporation Act (AktG) was then not pursued further.

The Supervisory Board of MAX Automation SE therefore expresses its lack of understanding that the acquisition of the AIM Group by the then M.A.X. Automation AG from a company of the Günther Group in 2013 is now to be made the subject of a special audit. According to the assessment of the Supervisory Board, the request for additions is the pursuit of extraneous interests, which unnecessarily burdens the MAX Group in terms of time and money and thus causes a considerable disadvantage to the Company and its shareholders.

"We have brought MAX well through the difficult Corona year and used the time to put MAX on a good path with the intended strategic and personnel realignment. A special audit would cost us an enormous amount of time and money - which we would be better off investing in the future, especially since the matter has already been elaborately dealt with in recent years," says Chairman of the Supervisory Board Dr. Christian Diekmann.

The Supervisory Board of MAX Automation SE therefore that the shareholders of the Company vote against the proposed resolutions of the shareholders Klaus Schulze and LBBW Asset Management Investmentgesellschaft mbH at the Annual General Meeting of MAX Automation SE on 28 May 2021.

The statement of the Supervisory Board of MAX Automation SE can be viewed and downloaded on the website of MAX Automation at www.maxautomation.com/hv-2021 under the item Ergänzung der Tagesordnung.

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About MAX Automation SE
MAX Automation SE (WKN: A2DA58), based in Düsseldorf, is an internationally active industrial group for high-tech automation solutions. The operating business is divided into three divisions: in its Process Technology segment, the Group's comprehensive technological Expertise makes it an innovation leader in the development and manufacture of proprietary solutions (e.g. dosing, impregnation), particularly for the automotive and electronics industries. In its Environmental Technology segment, MAX Automation develops and installs technologically complex systems for the recycling, energy and raw materials industries. The Evolving Technologies division of MAX Automation develops high-quality assembly and system solutions for the medical technology and automotive industries as well as for robotics and augmented automation.

www.maxautomation.com