TEAMVIEWER SE Convenience translation
This translation is a working translation only. Legally binding and relevant is solely the German version.
CONVERSION REPORT
of the Management Board of
TEAMVIEWER AG
on the change of legal form to
European Company (Societas Europaea, SE) as
TEAMVIEWER SE
22 March 2022
- Presented as agenda item 7 of the Annual General Meeting of TeamViewer AG on 17 May 2022
|EU-DOCS36888236.
Content
1. INTRODUCTION .................................................................................................................. 7
2. THE TEAMVIEWER AG ....................................................................................................... 8
2.1 REGISTERED OFFICE, HEADQUARTERS OFFICE, FISCAL YEAR
AND CORPORATE PURPOSE ................................................................................ 8
(a) Registered office, headquarters, fiscal year ................................................. 8
(b) Business purpose ............................................................................................. 8
2.2 BUSINESS ACTIVITY ............................................................................................... 9
(a) Business activities ........................................................................................... 9
(b) Group structure and shareholdings .............................................................. 9
(c) Key figures of the TeamViewer Group ....................................................... 10
2.3 SUPERVISORY BOARD, MANAGEMENT BOARD AND
REPRESENTATION ................................................................................................ 11
2.4 SHARE CAPITAL AND STOCK EXCHANGE LISTING .................................. 11
2.5 AUTHORIZED AND CONDITIONAL CAPITAL ............................................... 12
2.6 SHARE BUYBACK PROGRAM ............................................................................ 12
2.7 SHAREHOLDER STRUCTURE ............................................................................ 12
2.8 NUMBER OF EMPLOYEES AND CORPORATE CO-
DETERMINATION .................................................................................................. 13
2.9 GERMAN CORPORATE GOVERNANCE CODE .......................................... 13
3. OVERVIEW OF THE CONVERSION AND ECONOMIC AND LEGAL
MOTIVATIONS .................................................................................................................... 13
3.1 MAIN REASONS FOR THE CONVERSION ....................................................... 13
3.2 ALTERNATIVES ..................................................................................................... 13
3.3 CONVERSION COSTS ............................................................................................ 14
4. COMPARISON OF THE STRUCTURAL ELEMENTS, IN PARTICULAR
THE LEGAL POSITION OF THE SHAREHOLDERS OF TEAMVIEWER AG
AND TEAMVIEWER SE ...................................................................................................... 14
4.1 INTRODUCTION ..................................................................................................... 14
4.2 GENERAL REGULATIONS ................................................................................... 15
(a) Legal personality .......................................................................................... 15
(b) Share capital, structure of the shares ......................................................... 15
(c) Registered office of the company and possibility of cross-border
transfer of registered office .......................................................................... 15
(d) Reporting requirements ............................................................................... 15
4.3 FOUNDATION OF SE ............................................................................................. 16
4.4 LEGAL RELATIONSHIPS OF THE COMPANY AND THE
SHAREHOLDERS .................................................................................................... 16
4.5 CONSTITUTION OF THE COMPANY ................................................................ 16
(a) Management Board ...................................................................................... 17
(b) Supervisory Board ........................................................................................ 20
(c) Annual General Meeting .............................................................................. 26
4.6 ANNUAL FINANCIAL STATEMENTS, CONSOLIDATED
FINANCIAL STATEMENTS .................................................................................. 33
4.7 MEASURES TO RAISE AND REDUCE CAPITAL ............................................ 33
4.8 INVALIDITY OF RESOLUTIONS OF THE ANNUAL GENERAL MEETING AND OF THE APPROVED ANNUAL FINANCIAL STATEMENTS, SPECIAL AUDIT DUE TO INADMISSIBLE
UNDERVALUATION ............................................................................................ 33
(a) Invalidity or voidability of resolutions of the shareholders'
meeting .......................................................................................................... 33
(b) Invalidity of the approved annual financial statements ............................ 33
(c) Special audit due to impermissible undervaluation .................................. 33
4.9 DISSOLUTION AND ANNULMENT OF THE COMPANY ............................... 33
4.10 AFFILIATED COMPANIES ................................................................................... 34
4.11 PENALTY AND FINE REGULATIONS ............................................................... 34
4.12 GERMAN CORPORATE GOVERNANCE CODE .............................................. 34
5. IMPLEMENTATION OF THE CONVERSION OF TEAMVIEWER AG INTO
TEAMVIEWER SE ............................................................................................................... 34
5.1 PREPARATION OF THE CONVERSION PLAN ................................................ 34
5.2 CONVERSION AUDIT ............................................................................................ 35
5.3 DISCLOSURE ........................................................................................................... 36
5.4 ANNUAL GENERAL MEETING OF TEAMVIEWER AG ................................ 36
5.5 PROCEDURE FOR THE INVOLVEMENT OF EMPLOYEES ......................... 36
(a) Initiation of the negotiation procedure; formation and
composition of the SNB ................................................................................ 37
(b) Possible results of the procedure for regulating the participation
of employees .................................................................................................. 39
(c) Costs of the negotiation procedure ............................................................. 40
(d) Conclusion of the participation procedure ................................................. 40
(e) Participation rights under national regulations ........................................ 40
5.6 REGISTRATION OF THE CONVERSION IN THE COMMERCIAL
REGISTER ................................................................................................................ 40
5.7 CONTINUITY OF OFFICE OF THE SUPERVISORY BOARD,
APPOINTMENT OF THE MANAGEMENT BOARD ........................................ 42
6. EXPLANATION OF THE CONVERSION PLAN AND THE FIRST
ARTICLES OF ASSOCIATION OF TEAMVIEWER SE AND THE EFFECTS
FOR SHAREHOLDERS AND EMPLOYEES ................................................................... 42
6.1
EXPLANATION OF THE CONVERSION PLAN ............................................... 42
(a) Section I of the Conversion Plan - Conversion of the Company
into TeamViewer SE .................................................................................... 42
(b) Section II of the Conversion Plan - Effectiveness of the
Conversion .................................................................................................... 43
(c) Section III of the Conversion Plan - Company Name, Registered
Office, Articles of Association and Share Capital of TeamViewer SE and Continuation of Resolutions of the General Meeting of
TeamViewer AG ........................................................................................... 43
(d) Section IV of the Conversion Plan - Management Board ......................... 44
(e) Section V of the Conversion Plan - Supervisory Board ............................ 45
(f) Section VI of the Conversion Plan - Negotiation Procedure on the Participation of Employees .......................................................................... 46
(g) Section VII of the Conversion Plan - Other Consequences for
Employees and their Representatives ......................................................... 46
(h) Section VIII of the Conversion Plan - Special Rights and Special
Benefits .......................................................................................................... 46
(i) Section IX of the Conversion Plan - Auditor and First Fiscal
Year ................................................................................................................ 47
(j) Section X of the Conversion Plan - Costs ................................................... 47
(k) Section XI of the Conversion Plan - Governing Law ................................ 47
6.2
EXPLANATION OF THE ARTICLES OF ASSOCIATION OF
TEAMVIEWER SE .................................................................................................. 47
(a) § 1 of the Articles of Association - Company name and registered
office ............................................................................................................... 48
(b) § 2 of the Articles of Association - Objects of the Company ..................... 48 (c) § 3 of the Articles of Association - Announcements and
Information ................................................................................................... 48
(d) § 4 of the Articles of Association - Share Capital ...................................... 49
(e) § 5 of the Articles of Association - Shares .................................................. 49
(f) § 6 of the Articles of Association - Corporate Bodies of the
Company ....................................................................................................... 49
(g) § 7 of the Articles of Association - Composition and Rules of
Procedure of the Management Board ......................................................... 49
(h) § 8 of the Articles of Association - Management and
Representation of the Company .................................................................. 50
(i) § 9 of the Articles of Association - Composition and Term of
Office of the Supervisory Board .................................................................. 51
(j) § 10 of the Articles of Association - Chairperson and Deputy
Chairperson .................................................................................................. 52
(k) § 11 of the Articles of Association - Rights and Duties of the
Supervisory Board ........................................................................................ 52
(l) § 12 of the Articles of Association - Rules of Procedure and
Committees .................................................................................................... 52
(m) § 13 of the Articles of Association - Meetings and Resolutions of
the Supervisory Board ................................................................................. 52
(n) § 14 of the Articles of Association - Remuneration ................................... 53
(o) § 15 of the Articles of Association - Place and Convening of the
Annual General Meeting .............................................................................. 53
(p) § 16 of the Articles of Association - Participation Requirements ............ 53
(q) § 17 of the Articles of Association - Chair of the General Meeting .......... 53
(r) § 18 of the Articles of Association - Transmission of the General
Meeting .......................................................................................................... 54
(s) § 19 of the Articles of Association - Voting rights and
representation ............................................................................................... 54
(t) § 20 of the Articles of Association - Resolutions; Elections ...................... 54
(u) § 21 of the Articles of Association - Fiscal Year ......................................... 54
(v) § 22 of the Articles of Association - Annual Financial Statements ........... 54
(w) § 23 of the Articles of Association - Appropriation of profits and
Annual General Meeting .............................................................................. 54
(x) § 24 of the Articles of Association - Formation Expenses ......................... 55
7.
EFFECTS OF THE CONVERSION .................................................................................... 55
7.1 EFFECTS UNDER COMPANY LAW ................................................................... 55
(a) Legal effects of the conversion ..................................................................... 55
(b) Dividend entitlement .................................................................................... 56
(c) Shareholdings in TeamViewer SE after the conversion ............................ 56
(d) Other effects under company law ............................................................... 56
7.2
BALANCE SHEET EFFECTS OF THE CONVERSION .................................... 56
7.3 TAX EFFECTS OF THE CONVERSION ............................................................. 56
(a) Taxation of the conversion ........................................................................... 56
(b) Taxation of the future TeamViewer SE ...................................................... 57
(c) Taxation of shareholders ............................................................................. 57
7.4 EFFECTS OF THE CONVERSION ON THE SHARES OF THE
COMPANY AND THE STOCK EXCHANGE LISTING .................................... 57
DEFINITIONS .................................................................................................................................... 58
ANNEX 1 ............................................................................................................................................. 59
ANNEX 2 ............................................................................................................................................. 60
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
TeamViewer AG published this content on 07 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 April 2022 13:12:17 UTC.
