DGAP-News: VARTA AG: Annual General Meeting of VARTA AG to be held digitally on June 18, 2020

Corporate News

Ellwangen, Monday, May 11, 2020

Annual General Meeting of VARTA AG to be held digitally on June 18, 2020

The Company is to hold a digital Annual General Meeting for 2020 due to ongoing coronavirus measures.

The VARTA AG Group, technology and innovation leaders for rechargeable lithium-ion batteries for high-tech consumer products, particularly premium true wireless headsets, has decided to hold a digital, remote Annual General Meeting this year as a result of the continuing spread of the coronavirus. The Executive and Supervisory Boards have resolved to take advantage of new legal provisions. The digital Annual General Meeting will take place at the originally scheduled time of 11 am on June 18, 2020. Registered shareholders will have the opportunity to exercise their right to vote by written and electronic postal vote and follow the Annual General Meeting online in its entirety.

Herbert Schein, CEO of VARTA AG, comments: "Even during the global coronavirus crisis, we are continuing on our growth course. Within the Company, we have taken all conceivable measures to protect our employees. The decision to hold a digital Annual General Meeting therefore marks another step consistent with our aims of safeguarding the wellbeing and health of our shareholders, employees and service providers".

The basis for this decision is a new change to the law that relaxes the conditions under which Annual General Meetings can be held for 2020. Accordingly, exclusively digital, remote Annual General Meetings without physical presence are now permitted due to the health risks currently posed by the coronavirus outbreak. The Agenda for the 2020 Annual General Meeting in addition to further details on participation and voting possibilities for shareholders will be published today on May 11, 2020.

About VARTA AG
VARTA AG produces and markets a comprehensive battery portfolio that ranges from microbatteries, household batteries and energy storage systems all the way to customer-specific battery solutions for a wide range of uses, setting the industry standards as technology leader in many important areas. As the parent company of the Group, it is active in the "Microbatteries & Solutions" and "Household Batteries" business segments.
The "Microbatteries & Solutions" segment focuses on the OEM business for microbatteries and the lithium-ion battery pack business. Through intensive research and development, VARTA sets the global standards in the microbatteries segment and is a recognized innovation leader in the important growth markets lithium-ion technology and primary hearing aid batteries. The "Household Batteries" segment covers the battery business for end customers, including household batteries, rechargeable batteries, chargers, portable power (power banks), lights and energy storage systems.
The VARTA AG Group currently employs almost 4,000 staff. VARTA AG's operating subsidiaries are currently active in more than 75 countries around the world, with five production and assembly facilities in Europe and Asia as well as distribution centers in Asia, Europe and the USA.