Ströer Media AG is planning to change its legal form from a German corporation (AG) to a European corporation (Societas Europaea/SE). This up-to-date, modern legal form will clearly demonstrate Ströer Media AG’s image of itself as a European company to the public. The business activities of Ströer Media SE will continue to be governed by the management board, which will also continue to be overseen by the supervisory board. The planned transformation will not affect the rights of shareholders and employees. When the transformation is complete, Ströer Media AG’s shareholders will automatically become shareholders in Ströer Media SE, and shareholder rights and financial reporting will not be affected by the planned transformation. The company will continue to be headquartered in Cologne. In the view of the management board of Ströer Media AG, the planned change in legal form represents a further consistent step in the development of the company following the growth of recent years and is a special way to promote the development of an open, transparent and international corporate culture.
“The developments of recent years and our entry into the online marketing business have made the company even more international. In addition to our core markets of Germany, Turkey and Poland, our blowUP giant billboard network has given us a presence in Britain, the Netherlands, Belgium and Spain. We also operate technology hubs in New Zealand and the Czech Republic,” explained Udo Müller, CEO of Ströer Media AG. “That is why we have suggested this measure to our shareholders, in order to reflect our increasingly international staff, customers and shareholders in the legal form of the company and to strengthen our positioning in international markets.”
The company’s shareholders will be asked to approve the planned transformation at the 2014 annual general meeting.