Statement of Conformity 2024
Statement of conformity with the German Corporate Governance Code (GCGC) by the Management Board and the Supervisory Board of BRAIN Biotech AG pursuant to Section 161 (1) sentence 1 AktG
The Management Board and the Supervisory Board of BRAIN Biotech AG declare that, since the last statement of conformity was issued on 18 December 2023, Statement of conformity 2024 BRAIN Biotech AG has complied and will continue to comply with the recommendations of the “Government Commission on the German Corporate Governance Code” in the version dated 27 June 2022 (“GCGC”), with the following exceptions.
F.2: The consolidated financial statements and the group management report shall be made publicly accessible within 90 days from the end of the financial year, while mandatory interim financial information shall be made publicly accessible within 45 days from the end of the reporting period.
Note relating to F.2: Due to the additional financial accounting requirements as a listed company, the auditing of the financial statements lasted, and lasts, longer than 90 days, so that the audited figures cannot be published together with the annual report within the 90 days period after the financial year-end, but only after the 90-day period. Prospectively, this will also remain the case for future annual consolidated financial statements. The publication of all financial information during the course of the year occurs regularly within two months. The Management and Supervisory Board regard this as appropriate.
Furthermore, in light of various unlisted subsidiaries and participating interests held abroad, publication of the consolidated financial statements and the group management report as well as mandatory interim financial information within shorter periods would necessitate the deployment of considerable financial and personnel resources that would not be commensurate with the information that shareholders require for a company of the size of BRAIN Biotech AG. As a consequence, the periods required in the German Corporate Governance Code are not complied with.
In relation to the publication of annual and interim reports, BRAIN Biotech AG complies with statutory regulations as well as the Prime Standard stock exchange regulations of the Frankfurt Stock Exchange.
Zwingenberg, December 2024
For the Supervisory Board of BRAIN Biotech AG:
Dr. Michael Majerus, Chairman of the Supervisory Board
For the Management Board of BRAIN Biotech AG:
Adriaan Moelker, Chairman of the Management Board