publishing One Insider info distance Article 17 March
Leverkusen, 19. November 2021 – BioFrontera AG (ISIN: DE0006046113)And He has been in mediation proceedings with Mr. Wilhelm KT Zours and Deutsche Balaton AG for a year in order to find a solution to settle legal disputes and other controversies (see ad hoc announcement on 11 September 2020). Mr. Zours is an indirect major shareholder of Biofrontera AG, owning shares in Biofrontera AG through several companies (hereinafter referred to as the Deutsche Balaton Group). Another major shareholder is Maruho Deutschland GmbH, a subsidiary of Maruho Co., Ltd. Ltd. , Japan. At the next ordinary general meeting of Biofrontera AG on 14 December 2021, new elections for the Supervisory Board are scheduled.
As part of the mediation process, the Deutsche Balaton Group and the current Supervisory Board of Biofrontera AG have reached an agreement regarding the candidates for the Supervisory Board. Therefore, the current Supervisory Board intends to propose the following candidates for election at the annual general meeting:
a. Hair d. Hickey Lancret
NS. Miss Dr. Helge Lubino
NS. Frau Professor Franca Rohwedel
Dr.. Mr. Karlheinz Schmelig
NS. Mr. Dr. Jürgen Tillmann
F. Mr. Wilhelm KT Zours
Among the candidates, Mr. Zors announced his willingness to run for the election of the Chairman of the Supervisory Board.
Maruho Deutschland GmbH supports the proposal of the current Supervisory Board. The Deutsche Balaton Group and Maruho Deutschland GmbH have made a one-time commitment to vote for the said candidates at the next annual general meeting.
On the other hand, Biofrontera AG, Mr. Zours and the companies of the Deutsche Balaton Group have mutually agreed within the scope of the Settlement (the “Settlement”) to terminate all pending litigation proceedings by withdrawing the suit. The settlement also states that the authorized share capital II dissolved by Biofrontera AG’s general meeting on May 24, 2017 under Section 6, which is subject to a pending cancellation action and which will in any event be limited until May 23, 2022, cannot be used even after the action is withdrawn. In order to ensure that the company has an opportunity to raise capital in the future, Deutsche Balaton AG will submit an additional application to the next general meeting and propose the establishment of corresponding capital licenses. The comparison does not include a background review of Biofrontera Inc.’s initial public offering. in the United States. The settlement is subject to the precedent condition of the said candidates joining the supervisory board BioFronterra AG is elected.
Biofrontera AG, Hemmelrather Weg 201, 51377 Leverkusen
ISIN Number: DE0006046113
WKN: 604611
Contact: Biofrontera AG
Tel: +49 (0214) 87 63 2 0 Fax: +49 (0214) 87 63290
NS-Mail: [email protected]
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