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Presseerklärung
by FORIS AG, Bonn
SIN 577580
October 14, 2005
FORATIS AG begins trading in "European companies" (SE).
FORATIS AG, a subsidiary of FORIS AG, is offering the first German shelf company in the legal form of a "European company" (Societas Europaea). "Artrium Erste Europäische VV SE" has already been recorded in the Düsseldorf Commercial Register and is ready for immediate delivery.
To date, few "European companies" have been founded since the SE Introduction Act took effect on December 29, 2004. FORATIS AG has not only founded the first German shelf SE, but has simultaneously established the first German corporation that follows the so-called "monistic system" of corporate governance, under which - in addition to the General Shareholders Meeting - there is a unified administrative body with combined management and control functions (Verwaltungsrat), which corresponds to the Anglo-American "Board of Directors." Heretofore, the German Stock Corporation Act has known only a "dualistic system" based on the separation of Management Board (management) and Supervisory Board (oversight). With the SE, both systems are now possible alternatives.
This supra-national corporate form is intended for companies that are represented in various locations and want to place their activities under a unified holding company structure. Demand for this corporate form will grow as its advantageous effects on co-determination become clear. In the same way, abandoning the split between Management Board and Supervisory Board in a German corporation offers many companies interesting new structures for management and action. Finally, moving the company's registered office across the border to another EU country can be highly attractive.
FORATIS AG, the market leader in shelf companies, founds GmbHs [limited liability companies], Aktiengesellschafts [corporations], Kommanditgesellschafts [limited partnerships], and GmbH & Co. KGs [limited partnerships with a limited liability company as general partner] throughout Germany and also establishes companies in England, Spain, Austria, Switzerland and Liechtenstein. In founding the first shelf SE, FORATIS AG was assisted by Dr. Dirk Jannott, partner in CMS Hasche Sigle in Düsseldorf.
FORIS AG & FORATIS AG, Kurt-Schumacher-Str. 18 - 20, 53113 Bonn,
Tel.: 02 28-95 75 00, Fax: 02 28-9 57 50 27, bonn@foris.de
www.foratis.com www.foris.de
Info about European companies (SE)
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