cyan AG: Annual General Meeting concluded with clear shareholder approval of the company’s course

cyan AG: Annual General Meeting concluded with clear shareholder approval of the company’s course

Munich, July 10, 2023 – The Executive Board and Supervisory Board of cyan AG (XETR: CYR) received clear shareholder approval of the current course following a phase of realignment of the company at today’s virtual Annual General Meeting. All items on the agenda for resolution were approved by a majority.

In addition to the discharge of the Executive Board and the Supervisory Board, as well as the election of the auditor, the shareholders also agreed to carry forward the full amount of the unappropriated profit for the financial year 2022 and thus to leave it in the company to strengthen liquidity. Furthermore, the Annual General Meeting approved the creation of new authorized capital with simultaneous revocation of the existing authorization. Approval was also given to the amendment to the Articles of Association to enable future virtual Annual General Meetings.

“For cyan AG, the past few years were primarily characterized by the realignment of the company with a comprehensive business and structural transformation,” reported Frank von Seth. “The positive response to our new strategy, especially the focus on recurring revenues, is an important cornerstone for the company’s further development.”

In addition, the shareholders elected the members of the Supervisory Board for the next five years. The two existing Supervisory Board members Lucas Prunbauer and Markus Messerer, who has been interim member of the cyan AG Supervisory Board since March 2023, were confirmed in their positions by the Annual General Meeting. Alexander Singer was newly elected to the Supervisory Board, after the previous Supervisory Board Chairman Stefan Schütze did not run for re-election.

Stefan Schütze concluded: “I would like to express my sincere thanks to the Executive Board and my colleagues on the Supervisory Board over the past five years for their excellent cooperation on our board. With its many years of experience, a high level of competence and a broad network, the newly composed Supervisory Board has an excellent structure for accompanying the further development of cyan AG.”

Markus Cserna, CTO of cyan AG added: “We would like to thank Stefan Schütze for his time on the cyan AG Supervisory Board and accept his decision with regret. Mr. Schütze has successfully fulfilled his duties with a great deal of commitment and I would like to expressly thank him for the very good and trusting cooperation at all times.”

The voting results of the 2023 Annual General Meeting can be viewed at https://ir.cyansecurity.com/hauptversammlung.

About cyan

cyan AG (XETR: CYR) is a leading, globally active provider of intelligent cyber security solutions and platforms (BSS/OSS) for telecom companies with more than 15 years of experience in the IT industry. The company’s main business areas are IT security solutions for end customers of mobile and fixed network internet providers (MNO, ISP), mobile virtual network operators (MVNO) and financial service providers. The solutions provided by cyan are integrated as white label product into the infrastructure of the business partners, who then offer them to their end customers in a B2B2C model, under their own brand.

Today the group has numerous international customers, through which cyan’s products are distributed to end customers. In the process cyan can offer a range of solutions along the entire value chain from platform, data optimization to cybersecurity. In addition, cyan operates its own research & development center with the aim of identifying industry trends at an early stage and developing optimal product solutions. Besides Orange, cyan’s customers include among others Claro Chile (América Móvil Group), dtac (Telenor Group) as well as the telecom group Magenta (T-Mobile). Further information is available at: www.cyansecurity.com

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