New strategic core shareholder Yankuang strengthens SMT Scharf's growth prospects

New strategic core shareholder Yankuang strengthens SMT Scharf's growth prospects 

• Yankuang Energy Group Company Limited acquires a total of approx. 52.66% of SMT Scharf AG
• Personnel changes in the Managing and Supervisory Boards, Mr. Jun Liu becomes a member of the Managing Board and new CEO of SMT Scharf AG
• Admission of the shares to the Regulated Market (Prime Standard) still planned

Hamm, September 19, 2024 – SMT Scharf AG (WKN: A3DRAE; ISIN: DE000A3DRAE2), a leading global provider of customised transport solutions and logistics systems for the underground mining industry, has announced that the closing of the acquisition of a total interest of approximately 52.66% in SMT Scharf AG held by the former core shareholders of the Company by Yankuang Energy Group Company Limited based in Shandong Province, China, have been successfully completed according to the terms of the signed share purchase agreements.

The purchase price amounts to EUR 11.10 per share subject to the specific application of the adjustment mechanism mentioned in the ad-hoc announcement of March 1, 2024 and as agreed by the relevant parties at closing.

Volker Weiss, CFO of SMT Scharf AG, comments: “We welcome the fact that Yankuang, a strategic investor, has acquired a majority interest in SMT Scharf AG. Yankuang is strongly anchored as a leading manufacturer of high-end equipment in China and is also broadly positioned with activities in other industries such as underground coal mining. In this respect, we see the opportunity to achieve far-reaching synergies in coal mining and to address additional business potential there. At the same time, we see opportunities to make even better progress with SMT Scharf's targeted transformation into tunnel logistics and other business areas outside of coal.”

Yankuang Energy Group Company Limited takes mining, high-end chemicals and new materials, new energy, high-end equipment manufacturing and intelligent logistics as pillar industries. Yankuang Energy Group Company Limited is a company of a large Chinese energy group that enjoys four major listing platforms in China and beyond.

Personell changes in the Managing and Supervisory Boards

Furthermore, SMT Scharf AG announces that the Supervisory Board has appointed Mr. Jun Liu as a further member of the Managing Board today with immediate effect and appointed him as the new Chairman of the Managing Board (CEO) of SMT Scharf AG. Mr. Liu will further strengthen the Company's Managing Board alongside the current Managing Board members Mr. Reinhard Reinartz and Mr. Volker Weiss and will be responsible for Global Strategic Corporate Development, M&A and Integration Activities. Since 2005, Mr. Liu has held various positions in the Yankuang Group including international management positions. Most recently, he was Managing Director of Yancoal Luxembourg Energy Holding Co. Limited since July 2023. Mr. Reinartz, the former Chairman of the Managing Board, will continue to be Chief Operating Officer (COO). Mr. Weiss will continue to be the Company's Chief Financial Officer (CFO).

SMT Scharf AG also announces changes to the Supervisory Board. Mr. Dr.-Ing. Dirk Vorsteher and Mrs. Dipl.-Vw. Dorothea Gattineau have resigned as the Supervisors, and Mr. Li Zhang and Mr. Qiang Yu have become Supervisors of the Supervisory Board.

Change to the Regulated Market (Prime Standard)

In view of the execution of the agreements, SMT Scharf AG still intends to apply for admission of SMT Scharf AG's shares to the Regulated Market of the Frankfurt Stock Exchange and to the sub-segment of the Regulated Market with additional post-admission obligations (Prime Standard).


Company profile

The SMT Scharf Group develops, manufactures and services transportation equipment for underground mining as well as for tunnel construction. The main products include captivated railway systems that are deployed worldwide primarily in hard coal mines as well as in mines for gold, platinum and other metals. They are needed to transport material and personnel with payloads of up to 48 tonnes and on routes with gradients of up to 35 degrees. In addition, SMT Scharf supplies the mining sector with chairlifts. Since 2018, SMT Scharf’s diverse portfolio has also included rubber-tyred diesel and electric vehicles for mining and tunnelling, including loaders, scissor lifts and underground trucks. As part of the further diversification of the business, the product range has been successfully expanded since 2019 to include electronic components and control systems for mining and other industries. Overall, the SMT Scharf Group operates its own subsidiaries in seven countries and has agents around the world. Further information about the SMT Scharf Group can be found online at www.smtscharf.com.


Contact

Investor Relations
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Thorben Burbach
Tel: +49(0)611 - 205855-23
Fax: +49(0)611 - 205855-66
Email: burbach@cometis.de