Official homepage:

www.mum.de

Branch:

IT

Status:

Planned

Announced intention on1:

02-11-2005

Official process initiated on2:

10-04-2006

Registered on/in:

Expected in 01-2006

Seat before SE:

Wessling (Germany)

Seat of SE:

Wessling (Germany)

Form of establishment:

Conversion

Companies concerned:

Mensch und Maschine Software AG

Corporate governance structure before SE:

Two-tier3

Corporate governance structure of SE:

One-tier4

Total number of employees worldwide:

350

Countries of operation:

Austria (XX), Belgium (XX), France (XX), Germany (XX), Italy (XX), Japan (XXX), Poland (XX), Singapore (XXX), Sweden (XX), Switzerland (XX), United Kingdom (XX); US (XXX)

Countries concerned:

Germany, Ø

National trade unions involved:

No

European trade union federations involved:

No

EWC formerly existed:

No

Establishment of SNB:

Ø

Board-level employee representation before SE foundation:

No

Distribution of SNB seats:

Ø

Content of agreement:

Ø

Motives:

• The company sees itself as the very model of an SE with international sales of more than 70% and companies in 7 EU states, plus Sweden and Switzerland.

• Implementation of the one-tier structure

• Streamlining of the management structure (reduction from 9 to 7 seats)

• Simplification of legal and organisational structure

• Simplification of operational business

Comments:

The conversion plan of 10 April 2006 was presented to the shareholders at the last annual general meeting on 30 May 2006. The shareholders agreed to the conversion. It shall be effective retroactively from 1 January 2006.

According to the conversion plan the management informed the employees about its intention to transform the company into an SE and asked the employees to set up an SNB.

Recently, two shareholders opposed the plan and went to the civil court in Munich, so the plans have been halted for the time being.

Last update:

29-09-2006

References:

• Company homepage

• Mensch und Maschine Software AG (2006) Einladung Hauptversammlung – 30. Mai 2006. Available from: http://www.mum.de/mum/investor/pdf/MuM%20HV2006.pdf [Accessed 19-07-2006]

• A mid size company takes the lead – Mensch und Maschine goes European SE. Company News, 02-11-2005. Available from: http://www.mum.de/mum/startframe.asp?contentpage=/mum/investor/corporate_governance.asp [Accessed 25-11-2005]

• Mensch und Maschine Software AG (2005) Q3/2005 – Quarterly Report. Available from: http://www.mum.de/mum/download/Berichte/MuMQ305.pdf [Accessed 25-11-2005]