13.03.2017
init innovation in traffic systems SE DE0005759807
DGAP-News: init innovation in traffic systems SE: init AG is now a Societas Europaea (SE)
DGAP-News: init innovation in traffic systems SE / Key word(s):
Miscellaneous/Strategic Company Decision
init innovation in traffic systems SE: init AG is now a Societas Europaea
(SE)
13.03.2017 / 11:43
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
- The decision of the Annual General Meeting has been implemented:
Conversion takes effect with entry into the register
- Recognition as an international company set to increase - advantages for
investor relations and sales
Seven of 30 companies listed on the German stock exchange, including
Allianz, BASF and SAP, have been an SE for some time. And the biggest
flotation from last year on the German capital market was when Innogy had
also become a "Societas Europaea", or SE for short. Now init can join the
ranks of listed companies who are increasing their recognition as an
international global player with this innovative legal form as a European
stock corporation. With the now-completed entry into the commercial
register, the conversion of init innovation in traffic systems AG into an SE
has taken effect, and the decision made at the Annual General Meeting in
July 2016 was implemented.
"The Societas Europea is a modern legal form with a strong international
reputation. The conversion of init AG into init SE emphasises our
international focus and is a necessary step in the further development of
our company. We believe that the change will increase our market prospects,
particularly in the rest of Europe outside Germany, because as an SE we will
be perceived differently when tendering and have an advantage over an AG.
Likewise, an SE looks more attractive for international investors, which
should also boost our share price. Based on this, the opportunities for init
to expand overseas in the next few years look better", said CEO Dr.
Gottfried Greschner, underlining the advantages of the conversion.
Successful focus on the international markets
The init innovation in traffic systems SE (ISIN DE 0005759807) has really
made a name for itself in its market in the past few years. The Group, which
is active in five continents and which has branches and subsidiaries in 11
different countries, currently generates almost three quarters of its
revenue outside Germany. init is today among the world's leading providers
of integrated planning, scheduling, telematics and ticketing solutions for
buses and trains. With over 400 international clients it is one of the few
internationally active companies in the industry.
Because of this, getting the shareholders to agree to the Management Board's
conversion plans at the Annual General Meeting in July last year was largely
a formality. Apart from the increased acceptance of init SE among
international investors, nothing will change for init shareholders. The
structure of the company, shareholdings and the allocation of
responsibilities between the Annual General Meeting, the Management Board
and the Supervisory Board will remain unchanged. Members of the Supervisory
Board and Management Board will remain in their positions after the
conversion, and the company's headquarters will continue to be in Karlsruhe,
benefiting from its location at the heart of Europe.
init's focus on international markets was proven successful last year by
winning large contracts in the USA (Tampa, Honolulu) as well as in the
United Kingdom. Looking ahead to the future too, init's most important
growth stimuli are set to come from overseas. Thus, large calls for tender
in terms of ticketing are either being prepared or have already been
executed. As a leading international provider of appropriate solutions for
buses and trains, init's numerous references make it a hot contender. There
appears to be big potential in the medium term for the Asia/Pacific area in
particular.
Contact:
Person making the notification:
Simone Fritz
Investor Relations
[email protected]
---------------------------------------------------------------------------
13.03.2017 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: init innovation in traffic systems SE
Käppelestraße 4-10
76131 Karlsruhe
Germany
Phone: +49 (0)721 6100 0
Fax: +49 (0)721 6100 399
E-mail: [email protected]
Internet: www.initse.com
ISIN: DE0005759807
WKN: 575980
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
---------------------------------------------------------------------------
553357 13.03.2017
|
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu
init innovation in traffic systems SE ISIN: DE0005759807 können Sie bei EQS abrufen
Logistik/Verkehr , 575980 , IXX , XETR:IXX