The good prospects are based on the all-embracing ... - ALNO AG

In response to enquiries by the Supervisory Board or by
the Chairman of the Supervisory Board, and at various
meetings, the Board of Management and the auditor also
reported on any risks affecting the net assets, financial
position and results of operations of the individual ALNO
Group companies, as well as on the action taken to coun-
ter these in 2011. Second-tier management executives
were also consulted on specific topics.
<strong>The</strong> collaboration between Supervisory Board and Board
of Management was characterized by intensive and open
communication.
MeeTINGs of <strong>The</strong> suPervIsorY Board
<strong>The</strong> Supervisory Board met on five occasions in the financial
year 2011. Eleven telephone conferences were held
additionally. <strong>The</strong> Supervisory Board was also convened to
two extraordinary meetings held in the form of a telephone
conference. All members of the Supervisory Board were
able to attend more than half the meetings.
<strong>The</strong>re were no conflicts of interest to be disclosed to the
Supervisory Board and with regard to which the sh<strong>are</strong>holders'
meeting must be informed.
MaIN asPeCTs CoNsIdered BY <strong>The</strong> suPervIsorY
Board aT ITs MeeTINGs
<strong>The</strong> Supervisory Board regularly met to discuss the company's
current market situation and development, as
well as to consistently check and monitor the company's
net assets, financial position and liquidity, as well as the
Group's strategic orientation.
<strong>The</strong> Board of Management presented its corporate planning
for the financial year 2011 at the Supervisory Board
meeting on 11 January 2011. After intensive debate and
checking, the Supervisory Board approved the corporate
planning presented for the financial year 2011. In addition,
the Supervisory Board was also informed of the progress
made with regard to the financial activities. <strong>The</strong> Board of
Management also gave a detailed presentation of the sales
division.
to ouR shaREhoLdERs | REpoRt oF thE supERvisoRy BoaRd
<strong>The</strong> purpose of the telephone conference on 3 March 2011
was to approve the Board of Management's resolution
of the same date defining the total volume of the capital
increase resumed by the Board of Management on 10
February 2011 with the approval of the Supervisory Board
and the resultant amendment required in the Articles of
Association. <strong>The</strong> Supervisory Board approved the resolution
after considering it in detail.
At an extraordinary telephone conference on 6 April 2011,
the Supervisory Board cancelled Mr. Jörg Deisel's appointment
as CEO and decided to terminate his service contract
with immediate effect for <strong>good</strong> cause. It was also
decided to cancel the appointment of Mr. Michael Paterka
as member of the Board of Management, not to renew his
service contract and to relieve Mr. Michael Paterka of his
duties. <strong>The</strong> Supervisory Board also considered the new
appointment to the Board of Management proposed by
the Presidial Committee. <strong>The</strong> Supervisory Board appointed
Mr. Max Müller as Chief Executive Officer of ALNO AG with
immediate effect. Mr. Christoph Fughe was also appointed
member of the Board of Management with immediate
effect.
At the meeting on 14 April 2011, the Supervisory Board
was informed of the provisional financial statements of
ALNO AG as at 31 December 2010, as well as with regard
to the provisional consolidated financial statements of the
ALNO Group as at 31 December 2010. <strong>The</strong> Board of
Management reported on the development of business
up to March 2011, as well as on other developments of
importance. <strong>The</strong> Board of Management also presented a
plan of action to improve performance in the financial year
2011. Finally, the statement by PricewaterhouseCoopers
concerning the company's reorganization was also presented
and discussed.
<strong>The</strong> agreement with Mr. Michael Paterka concerning an
employee termination payment was considered at length
at the Supervisory Board meeting held on 9 May 2011 in
the form of a telephone conference. <strong>The</strong> resolution proposed
by the Presidial Committee was adopted by the
Supervisory Board.
On 30 May 2011, the Supervisory Board consulted by
telephone to adopt a resolution. <strong>The</strong> annual financial statements
of ALNO AG as at 31 December 2010 and the
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