DGAP-News: SMT Scharf AG successfully holds first virtual AGM

SMT Scharf AG successfully holds first virtual AGM

- Managing and Supervisory boards discharged for FY 2019

- Presence of represented share capital of 36.28%

Hamm, May 26, 2020 - SMT Scharf AG (WKN 575198, ISIN DE0005751986), one of the world's leading suppliers of customised transport solutions and logistics systems for underground mining, has today, Tuesday, successfully held its virtual 2020 Ordinary Annual General Meeting. On the basis of the act passed by the legislator to mitigate the consequences of the COVID-19 pandemic (Act on Measures in Corporate, Co-operative, Association, Foundation and Home Ownership Law to Combat the Effects of the COVID-19 Pandemic [C19 AuswBekG]), this AGM was held as a virtual AGM. The presence of the represented share capital amounted to 36.28%. All items on the agenda were adopted with large majorities.

As part of the AGM, the Managing Board reported on the operative and strategic development of SMT Scharf AG in the 2019 fiscal year, which was characterised by significant revenue and earnings growth. The company pushed ahead with various strategic initiatives for future growth, including the acquisition of ser elektronik GmbH, which specialises in electronic control systems, and the early initiation of the approval process for machines for the Chinese market, where the new China III regulations will apply to the mining industry from 2021 onward. The Managing Board also issued its outlook for the current 2020 fiscal year, which to date has been significantly affected by the coronavirus pandemic and associated general economic consequences and restrictions in mining markets worldwide.

Rödl & Partner GmbH Wirtschaftsprüfungsgesellschaft Steuerberatungsgesellschaft, Cologne branch, was appointed as the auditor for the 2020 fiscal year.

The detailed voting results on the respective agenda items will be available soon for download from the website at www.smtscharf.de within the investor relations area.

Company profile
The SMT Scharf Group develops, manufactures and services transportation equipment for underground mining as well as for tunnel construction. Its main products include captivated railway systems that are deployed worldwide, primarily in hard coal mines, as well as in mines for gold, platinum and other metals. Such systems are required in order to transport material and personnel with payloads of up to 48 tonnes and on gradients of up to 30 degrees. In addition, SMT Scharf supplies the mining sector with chairlifts. Since 2018, SMT Scharf's diverse portfolio has also included rubber-tyred diesel and electric vehicles for mining and tunnelling, including loaders, scissor lifts and underground trucks. As part of the further diversification of the business, the product range has been successfully expanded since 2019 to include electronic components and control systems for mining and other industries. Overall, the SMT Scharf Group is active with subsidiaries in eight countries, as well as commercial agencies worldwide. SMT Scharf generates a large share of its revenue in growing foreign markets such as China, Russia, Poland and South Africa. SMT Scharf AG has been listed in the Prime Standard (Regulated Market) of the Frankfurt Stock Exchange since 2007.

Contact
Investor Relations
cometis AG
Thorben Burbach
Tel: +49(0)611 - 205855-23
Fax: +49(0)611 - 205855-66
Email: [email protected]