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SMA Solar Technology Shareholders Approve All Proposals

Solar energy equipment supplier SMA Solar Technology AG (SMTGF.PK) said that its shareholders granted full discharge to the Managing Board and Supervisory Board for the 2019 fiscal year with a clear majority of over 99% and over 98% at today's Annual General Meeting, which was held online due to the coronavirus crisis. The shareholders also approved other proposals.

The Annual General Meeting accepted the proposal of the Managing Board and Supervisory Board that no dividend be distributed for the 2019 fiscal year.

Despite the current coronavirus crisis, the SMA Managing Board confirmed its sales and earnings guidance for the 2020 fiscal year published on February 7, 2020, which predicts a sales increase to between 1.0 billion euros and 1.1 billion euros.

The Managing Board is also implementing further cost reduction measures. It still expects an increase in EBITDA to between 50 million euros and 80 million euros.

Uwe Kleinkauf and Jan-Henrik Supady were elected to the Supervisory Board of SMA as new shareholder representatives. They succeed SMA co-founder Peter Drews and the former Chairman of the Supervisory Board Erik Ehrentraut, who did not stand for re-election.

The shareholders again elected Roland Bent, Kim Fausing and Alexa Hergenr?ther as further representatives of the Supervisory Board. They also elected for the first time Ilonka Nussbaumer, who had been judicially appointed in September 2019 following the departure of company co-founder Reiner Wettlaufer.

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