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Uniper Supervisory Board Chairman Bernhard Reutersberg Resigns

Uniper Supervisory Board Chairman Bernhard Reutersberg resigned, a week after Fortum holding a 69.6% stake in the German energy generation and energy trading company.

At the same time, Reutersberg, Jean-Francois Cirelli, David Charles Davies, Marion Helmes and Rebecca Ranich also resigned from the Supervisory Board.

Uniper said, "The reason for the resignations is a corresponding request by Fortum for the immediate resignation of the independent shareholder representatives on the Supervisory Board."

Uniper noted that the vacant seats on the Supervisory Board shall be filled by way of a court appointment until the new elections at the Annual General Meeting of Uniper SE planned for 20 May 2020.

On 26 March 2020, Fortum said it purchased Uniper shares held by Elliott Management Corporation and its affiliates and Knight Vinke Energy Advisors Limited and its affiliates. Fortum holds 69.6% of the shares and voting rights in Uniper.

Fortum ruled out any domination and/or profit and loss transfer agreement or squeeze-out of minority until the end of 2021. Thereby Uniper remains a separate company, listed in Germany.

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