VERAISON - ARYZTA: Shareholder group welcomes resignation of the Chairman and corrects misleading statements from the Board of Directors Mittwoch, 19. August 2020 - 06:39

ARYZTA: Shareholder group welcomes resignation of the Chairman and corrects misleading statements from the Board of Directors in the invitation to the Extraordinary General Meeting

August 19, 2020

The shareholder group represented by VERAISON is pleased to note that Gary McGann is retiring as Chairman without conditions. We conclude from the company's statement yesterday that the strategic review has been completed without an acceptable offer for the company being made.

This can now be the start of an independent transformation of Aryzta driven by the bakery industry expertise and proven leadership skills of the candidates proposed by the shareholder group. With the support of shareholders, the proposed independent candidates - Urs Jordi, Heiner Kamps and Armin Bieri - will be able to contribute immediately to the strengthening of Aryzta after the Extraordinary General Meeting on September 16. They represent a new chapter in the company's history and are committed to creating shareholder value and taking the interests of all stakeholders into account.

Unfortunately, in its EGM invitation, the Board of Directors of Aryzta once again made misleading statements, suggesting Urs Jordi, Heiner Kamps and Armin Bieri were not willing to participate in a formal evaluation process.
In a letter dated 30 July 2020, the three candidates explicitly assured the current Board of Directors that they would be available for discussions with the Nomination Committee and the members of the Board of Directors who have not handed in their resignation. The offer was repeated in a conference call with Gary McGann and Jim Leighton on August 10. It is inexplicable that the offer was ignored by the Board of Directors of Aryzta

Kind regards,

The VERAISON-Team on behalf of the shareholder group

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www.simplify-aryzta.com
For media inquiries: Veraison Capital AG, Zurich/Switzerland - Gregor Greber; info@veraison.ch

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