Thursday, January 19, 2012

ADVA Optical Networking Plans European Corporate Structure

ADVA Optical Networking is planning to convert its organizational structure into an SE (Societas Europaea, a public limited-liability company under European law) named ADVA Optical Networking SE. The company is currently structured under German law as ADVA AG Optical Networking.

Shareholders of ADVA AG Optical Networking will automatically become shareholders of ADVA Optical Networking SE. There will be no relevant changes to shareholders’ rights, and there are no changes to the manner or content of financial reporting as a result of the conversion to an SE legal entity.

The company cited several reasons for the change, including the ability to use the same legal form for the incorporation of subsidiaries when expanding business within the European Union. Further, as an SE legal entity, ADVA Optical Networking will be able to opt for a more efficient single tier Board structure, although the Company does not plan to do this immediately following its conversion. The Company’s registered offices and headquarters will remain in Germany for the foreseeable future.