Luxembourg / Germany - The board of directors of SAF-HOLLAND S.A., which currently has its headquarters in Luxembourg, decided in December to prepare a change to the legal form of the company into a European Company (Societas Europaea, SE) and for the subsequent transfer of the registered office of the company to Germany.

The company said it considers the legal form of an SE to be particularly suitable for emphasizing its international orientation. Following the legal transfer of the registered office to Germany it intends to merge the group management functions with the operational functions of the SAF-HOLLAND Group, thereby reducing the complexity of the group structure and associated costs. In addition, the company's management system is to change from a monistic into a dualistic management system. By changing to an SE, this offers the choice between a monistic system, which assigns the management and supervisory functions to a uniform body (called the administrative board), and a dualistic system with separate bodies for management (management board) and supervision (supervisory board). This new management structure, the company stated, would adapt it to the actual organizational structure of the SAF-HOLLAND Group.