WETTENBERG (dpa-AFX) - The technology company PVA Tepla has postponed its Annual General Meeting scheduled for next Wednesday (June 26) until further notice. It is assumed that an election proposal for a two-year term of office for existing Supervisory Board members could not be supported, the SDax group announced on Friday shortly before the close of the meeting in Wettenberg, Hesse. The Supervisory Board now wants to adjust the proposal and invite shareholders to a new date for the Annual General Meeting. At the turn of the year, PVA Tepla initiated a process to replace the Supervisory Board. As a result, the proposal of a two-year term of office (5 are possible) for the existing members was submitted "to ensure an optimal transition step by step." "In recent days, however, it has become apparent that proxy advisors will not support this proposal," the statement continued.

PVA Tepla specializes in vacuum technology and measurement technology, among other things. However, the company also supplies the semiconductor and photovoltaic industries with crystal growing systems./ngu/mis