- 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
Karlsruhe, 13 March 2017.
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 Europaea 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.
