Roermond, The Netherlands,
31
January
2019
|
07:00
Europe/Amsterdam

Sif subject to the large company regime (volledig structuurregime) as of February 1, 2019

Summary

Sif Holding N.V. (Euronext symbol SIFG / ISIN code NL0011660485) - Regulatory news

After meeting the relevant criteria for three consecutive years, Sif Holding N.V. will become subject to the large company regime (volledig structuurregime) as from 1 February 2019.

The large company regime allows employees to have a say in the appointment of supervisory board members and certain power is shifted to the supervisory board in accordance with the Dutch Civil Code.

The applicability of the large company regime amongst others entails the following:

  • the supervisory board will have the power to appoint executive board members;

  • the supervisory board members shall be appointed by the general meeting on the basis of a binding nomination drawn up by the supervisory board;

  • both the general meeting and the works council have the right to recommend candidates to the supervisory board for the nomination;

Dutch law requires that a large company conforms its articles of association to the rules applicable to large companies. The articles of association of Sif Holding N.V. already allow for the consequences of Sif Holding N.V. becoming subject to the large company regime. The articles of association that apply as from 1 February 2019 are available on the company's website and as an attachment to this press release.

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About Sif Holding N.V.

Sif is a total solutions provider for design engineering and excellent manufacturing of offshore foundations for wind farms, including logistics and marshalling services. Sif traditionally serves the North-Western European markets and is exploring its global presence. Sif combines two highly automated and flexible production facilities in Roermond and Rotterdam (Tweede Maasvlakte) with technology leadership in rolling and welding of heavy steel plates, which is based on 75 years of experience and innovative in-house developed techniques and processes. Sif primarily produces monopiles, transition pieces and piles that are used to anchor jacket foundations in the seabed for offshore wind turbines.