Statement

The Managing Board, Supervisory Board and executives at SINGULUS TECHNOLOGIES endorse the principles of corporate transparency, accountability and control which serve to preserve and strengthen the confidence of shareholders, employees, business partners and the public in general.

Declaration of Conformity 2012 to the German Corporate Governance Code

The last Declaration of Conformity was published in March 2011 on the basis of the German Corporate Governance Code amended as of May 26, 2010. Since issuing this declaration the SINGULUS TECHNOLOGIES AG has adhered to the recommendation of the German Corporate Governance Code as of May 26, 2010, which remained unchanged in 2011, with the following exceptions:

  1. As long as the Supervisory Board is comprised of three members, there were and will not be committees (cf. No. 5.3.1, 5.3.2 and 5.3.3 of the Code), since a proper fulfillment of the tasks of the Supervisory Board can only be achieved in a plenary meeting of the three-person Supervisory Board. In addition, corporate law provides that decision-making Supervisory Board committees have to have at least three Supervisory Board members. For this reason a delegation of tasks is not reasonable either.
  2. The Supervisory Board does not determine a mandatory quota for the appropriate participation of women in the Supervisory Board (cf. Art. 5.4.1 of the Code).

    The members of the Supervisory Board should exclusively be appointed according to expertise and qualification not subject to gender and nationality. The Supervisory Board has three members. They are to advise and monitor the Executive Board in a competent and efficient manner. Consequently, the members have to have management expertise and industry know-how in the area of hightech engineering, preferably solar equipment. The Supervisory Board would welcome the participation of motivated women in the Supervisory Board with the required qualification and expertise.

However, high-tech engineering is traditionally a sector with very few women in management positions. Accordingly, the Supervisory Board does not regard it as reasonable to set a quota with fixed time horizon, but will prefer women in case of comparable qualification and aptitude, however. Except for the aforementioned deviations the SINGULUS TECHNOLOGIES AG adheres to the recommendation of the German Corporate Governance Code as amended as of May 26, 2010 and will adhere to them in the future as well.

Kahl am Main, January 2012

Dr.-Ing. Wolfhard LeichnitzGünter BachmannDr. rer. nat. Rolf Blessing
Dr.-Ing. Stefan RinckMarkus Ehret
OK

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