Jena, 24 July 2015 – Intershop Communications AG (ISIN: DE000A0EPUH1), the leading independent provider of innovative solutions for omni-channel commerce, announces that the court proceedings relating to the special audit have been concluded by way of a settlement in conciliation proceedings. The settlement agreement has been published in the Bundesanzeiger.
GSI Commerce Solutions Inc., one of the company’s shareholders, had filed an appeal and an action for annulment against the resolution adopted at the ordinary shareholders’ meeting on 12 June 2014 to appoint special auditors in accordance with section 142 (1) of the German Stock Corporation Act (AktG).
As previously announced, the special audit has been concluded in the meantime. The special auditor, Wedding & Cie. GmbH Wirtschaftsprüfungsgesellschaft, Frankfurt, found no clues that the exchange of services between Intershop and eBay would not stand up to a third-party comparison and stated that no objections could be raised against the business relationship.
Jochen Moll, Spokesman of the Management Board of Intershop Communications AG, welcomed the decision: “At the upcoming shareholders’ meeting, we will now be able to concentrate on presenting our shareholders the next steps we have planned to secure the progress made by the company and to achieve sustainable growth for Intershop.”
Intershop Communications AG (founded in Germany 1992; Prime Standard: ISH2) is the leading independent provider of omni-channel commerce solutions. Intershop offers high-performance packaged software for internet sales, complemented by all necessary services. Intershop also acts as a business process outsourcing provider, covering all aspects of online retailing up to fulfillment. Around the globe more than 300 enterprise customers, including HP, BMW, Würth, and Deutsche Telekom run Intershop solutions. Intershop is headquartered in Jena, Germany, and has offices in the United States, Europe, Australia, and China. More information about Intershop can be found online at www.intershop.com.
This news release contains forward-looking statements regarding future events or the future financial and operational performance of Intershop. Actual events or performance may differ materially from those contained or implied in such forward-looking statements. Risks and uncertainties that could lead to such difference could include, among other things: Intershop's limited operating history, the unpredictability of future revenues and expenses and potential fluctuations in revenues and operating results, significant dependence on large single customer deals, consumer trends, the level of competition, seasonality, risks related to electronic security, possible governmental regulation, and general economic conditions.