Corporate News

NFON AG: Extraordinary General Meeting strengthens basis for further growth

- Günter Müller, Milestone Venture Capital GmbH, and Florian Schuhbauer, Active Ownership Fund, elected to the Supervisory Board

- Scope for implementation of growth strategy expanded by creating new Authorized Capital

Munich, December 12, 2019 - NFON AG (together with its subsidiaries "NFON" or the "Company"), the only pan-European cloud PBX provider, successfully held its Extraordinary General Meeting today at which the proposals of the administration for the election of the Supervisory Board and for the creation of Authorized Capital were accepted.

As of today, the previous Supervisory Board members Angélique Werner and Ralf Grüßhaber have resigned from the Supervisory Board. Günter Müller, Managing Director of Milestone Venture Capital GmbH, and Florian Schuhbauer, founding partner of Active Ownership Fund, Luxembourg ("AOC"), were elected to the Supervisory Board to replace them.

Rainer-Christian Koppitz, Chairman of the Supervisory Board of NFON AG: "We would like to thank Angélique Werner and Ralf Grüßhaber very much for their excellent professional and personal cooperation over the past two years and wish them all the best for their further personal and professional future. In Mr. Müller and Mr. Schuhbauer, we have gained two successors with proven industry and financial expertise, who also underscore their commitment as major shareholders of NFON. We are delighted to be able to further advance NFON's growth course together with the Management Board."

In order to consistently implement the growth strategy, new Authorized Capital 2019 was also created because the Authorized Capital created by the 2018 Annual General Meeting was largely exhausted. The Management Board was therefore authorized, with the approval of the Supervisory Board, to increase the share capital once or in partial amounts by a total of up to EUR 3 million by issuing new no-par value bearer shares (Authorized Capital 2019). The shareholders are generally entitled to a subscription right. This step gives the Company the opportunity to use new equity capital to finance acquisitions. The Management Board is thus in a position to take advantage of M&A opportunities more quickly and easily in the interests of shareholders.

Hans Szymanski, CEO & CFO of NFON AG: "By forming this new Authorized Capital, we have created the financial scope to further implement our growth strategy by expanding our product portfolio, internationalizing our business activities and making targeted acquisitions. Especially with regard to M&A activities, speed and flexibility in a highly competitive market environment with financially strong investors and companies are essential factors for the success of an acquisition."

Investor Relations Contact

NFON AG
Sabina Prüser
Head of Investor Relations
+49 89 45300 134
[email protected]

Media Contact

NFON AG
Thorsten Wehner
Vice President Public Relations
+49 89 45300 121
[email protected]

About NFON AG

Headquartered in Munich, NFON AG is the only pan-European cloud PBX provider - counting more than 30,000 companies across 15 European countries as its customers. With Cloudya, NFON offers an easy-to-use, independent and reliable solution for advanced cloud business communications. Further premium and industry solutions complete the portfolio in the field of cloud communications. With our intuitive communications solutions, we enable European companies to improve their work a little, every single day. NFON is the new freedom in business communication. https://corporate.nfon.com/de/

Disclaimer

This announcement is not an offer of securities for sale in the United States of America. The securities of the Company have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act. No public offering of securities of the Company is being made in the United States of America and the information contained herein does not constitute an offering of securities for sale in the United States of America, Canada, Australia, Japan or any other jurisdiction in which such offering would be unlawful. This announcement is not for release, publication or distribution directly or indirectly in or into the United States of America, Australia, Canada, Japan or any other jurisdiction in which the distribution or release would be unlawful or to U.S. persons.