Cemat — AGM Information 2013

Mar 22, 2013

No. 03/13

NASDAQ OMX Copenhagen A/S
22.03.2013
Nikolaj Plads 6
1067 Copenhagen K, Denmark

No. 03/13

                   Topsil Semiconductor Materials A/S

                          CVR no. 24 93 28 18

                         Annual General Meeting

Notice is hereby given that the Annual General Meeting of Topsil Semiconductor
Materials A/S will be held on Monday, 22 April 2013 at 10:00 am at Topsil,
Siliciumvej 1, DK-3600 Frederikssund. The agenda is as follows:

1.
Report by the Board of Directors and the Management Board on the activities of
the Company during the past financial year

2.
Presentation of the audited annual report for approval

3.
The Board of Directors’ proposal for appropriation of profit or treatment of
loss according to the approved annual report.

4.
Approval of the remuneration to the Board of Directors for the current
financial year.

In 2012, the basic remuneration paid to each ordinary board member was DKK
200.000, and the chairman received 2.5 times and the deputy chairman 1.75 times
this remuneration. Separately and only for the financial year 2013, the Board
of Directors proposes that the above remunerations be temporarily reduced by
10%. Accordingly, the Board will receive the same remuneration in 2013 as in
2012, however, reduced by 10% relative to the remuneration received in 2012.

5.
Election of members to the Board of Directors
The Board of Directors proposes re-election of:

Jens Borelli-Kjær, Chairman (53)
MSc Engineering (Mathematics/Physics), BCom (International Trade), MBA (INSEAD)
Elected Chairman in 2006
Directorships and managerial positions: Chairman of the board of directors of
Vitral A/S, CEO of CCMA ApS, UAB Vitral, Lithuania and Vitral UK Ltd., UK.
Chairman of the Nomination and Remuneration Committees
Independent of special interests
Special qualifications: Business, industrial and general management experience
from various industries (building materials, pharmaceutical equipment and
electronics)

Eivind Dam Jensen, Deputy Chairman, 61
State-authorised estate agent
Elected Deputy Chairman in 2005
Directorships and managerial positions: CEO and member of the boards of
directors of Ejendomsaktieselskabet Bangs Gård and Aktieselskabet Eivind Dam
Jensen, and owner of Statsaut. Ejendomsmæglerfirma E. Dam Jensen
Member of the Nomination Committee
Not independent of special interests (majority shareholder and owner of the
property Linderupvej 4, Frederikssund, Denmark)
Special qualifications: Purchase, sale, valuation and letting of commercial and
investment properties and property management

Jørgen Frost, 58
MSc Engineering, BCom (Marketing)
Elected to the Board of Directors in 2006
Member of the Audit Committee
Directorships and managerial positions: Member of the board of directors of
Fischer Holding A/S, founder, CEO and member of the board of directors of Frost
Invest A/S and member of the boards of directors of Vestergaard Company A/S,
Kongskilde Industries A/S and RM Rich. Müller A/S
Independent of special interests
Special qualifications: Industrial management experience from listed industrial
companies

Michael Hedegaard Lyng, 43
MSc (Business Administration and Auditing), MBA (IMD)
Elected to the Board of Directors in 2010
Chairman of the Audit Committee and member of the Remuneration Committee
Directorships and managerial positions: CEO and CFO of NKT Holding A/S and
member of the boards of directors of several companies of the NKT group. Member
of the board of directors of Burmeister & Wain Scandinavian Contractor A/S
Independent of special interests
Special qualifications: Traditional CFO disciplines in global, international
listed industrial companies

6.
Appointment of auditors
The Board of Directors proposes that Deloitte Statsautoriseret
Revisionspartnerselskab be re-appointed.

7.
Authorisation to the Board of Directors pursuant to section 198 of the Danish
Companies Act to allow the Company to, during a period of 18 months from the
date of the Annual General Meeting, acquire own shares of up to 10% of the
Company's share capital from time to time against payment of between DKK 0 and
up to 10% above the official selling price quoted from time to time on NASDAQ
OMX Copenhagen A/S.

8.
The Board of Directors' proposal to amend the Articles of Association and to
grant authorisation to the chairman of the general meeting

8.1
The Board of Directors proposes that the objects of the Company be extended to
also comprise operation, development and sale of the property company Cemat70
S.A. Against this background, the Board of Directors proposes that the objects
clause set out in article 1.1. of the Articles of Association be amended to
read as follows:

"Article 1.1
The objects for which the Company is established are to carry out production
and trading activities, mainly in semiconductor materials, and to operate,
develop and sell the property company Cemat70 S.A."

8.2
Since the current authorisation set out in article 3.3 of the Articles of
Association for the Board of Directors to increase the share capital expire on
1 April 2013, the Board of Directors proposes that the following new
authorisation for the Board to increase the share capital be incorporated in
the Articles of Associations as a new article 3.3 in replacement of the current
authorisation in article 3.3. of the Articles of Association:

"Article 3.3
At the Company's annual general meeting on 22 April 2013, the following
authorisations to increase the Company's share capital have been granted to the
Board of Directors.

Article 3.3 A
The Board has been authorised to increase the capital before 22 April 2018, in
one or more stages, by offering up to 200 million new shares of DKK 0.25 each.
The capital increase may be made by cash payment. The subscription must be
effected with pre-emptive rights to the existing shareholders. The Board shall
determine the terms of subscription for shares in connection with the
individual offering, including the subscription price.

Article 3.3 B
The Board has been authorised to increase the capital before 22 April 2018, in
one or more stages, by offering up to 200 million new shares of DKK 0.25 each.
The increase may be made by cash payment and in any other way, including
through conversion of debt or by non-cash contribution. The shares must be
issued at market price, and the subscription will be effected without
pre-emptive rights to the existing shareholders. The Board shall determine the
other terms of subscription in connection with the individual offering.

Article 3.3 C
The capital increase that the Board of Directors may resolve to carry out
pursuant to articles 3.3 A and 3.3 B may not exceed a total nominal amount of
DKK 50,000,000. Accordingly, a maximum of 200 million new shares of DKK 0.25
each may be issued pursuant to the authorisations set out in articles 3.3 A-3.3
B.

Article 3.4
The rules that apply to the existing shares in the Company shall in each and
every respect apply to the new shares, cf. articles 3.3 A and 3.3 B. It should
be noted in particular that the new shares shall be negotiable instruments and
be freely transferable, and that the shares shall be issued to bearer but may
be registered in the name of the holder. The rights of the new shares in the
Company shall apply from the time when the shares are fully paid up, and the
shares are fully eligible for dividends distributed for the financial year in
which they are fully paid up.

The Board of Directors has been authorised to make such amendments to the
Articles of Association as may be necessitated by the capital increase."

8.3
Furthermore, the Board of Directors proposes to increase the maximum nominal
amount and consequently the maximum number of shares for which the Board may
issue warrants and carry out the related capital increase pursuant to the
current authorisations granted to the Board of Directors set out in article 3.8
of the Articles of Association. The authorisations and the terms thereof in
article 3.8 remain unchanged. However, the numbering of this article has been
changed to 3.7 in the proposed new Articles of Association.

"Article 3.7
The Board of Directors has been authorised to issue, in one or more stages,
before 25 April 2017, warrants in the Company to managerial employees of the
Group, including to the Management Board, entitling the holders to subscribe
for shares of a nominal value of up to DKK 10,000,000.00 in the Company,
corresponding to 40 million shares of DKK 0.25 each. The shareholders of the
Company shall have no pre-emptive rights in the event that the Board of
Directors exercises this authorisation. The exercise price and other terms and
conditions applying to the warrants will be determined by the Board of
Directors.

Pursuant to the rules of the Danish Companies Act applicable from time to time,
the Board of Directors may reuse or reissue any lapsed unexercised warrants
provided that such reuse or reissue is effected under the terms and conditions
and within the time limitations set out in this authorisation. Reuse means the
Board of Directors' right to let another party enter into an existing agreement
on warrants. Reissue means the Board of Directors' option to reissue new
warrants, under the same authorisation, if previously issued warrants have
lapsed.

The rules that apply to the existing shares in the Company shall in each and
every respect apply to the new shares, cf. this article 3.7. It should be noted
in particular that the new shares shall be negotiable instruments and be freely
transferable, and that the shares shall be issued to bearer but may be
registered in the name of the holder. The rights of the new shares in the
Company shall apply from the time when the shares are fully paid up, and the
shares are fully eligible for dividends distributed for the financial year in
which they are fully paid up. If changes have been made in general to the
rights of the shares before the exercise of the warrants in accordance with
this article 3.7, the new shares issued in connection with exercise of these
warrants shall, however, carry the same rights as the other shares in the
Company at the time of exercise. The new shares shall be issued through VP
Securities A/S and shall be listed on NASDAQ OMX Copenhagen.

Furthermore, the Board of Directors has been authorised to increase, in one or
more stages, the share capital by a nominal amount of up to DKK 10,000,000.00
corresponding to 40 million shares of DKK 0.25 each against cash payment in
connection with the exercise of warrants pursuant to this article 3.7. The
Company’s shareholders shall have no pre-emptive rights to shares issued upon
exercise of issued warrants. Furthermore, the Board of Directors shall
determine the terms and conditions of any capital increases effected under the
authorisation. If the terms of the issued warrants entail an adjustment of the
number of warrants, the Board is authorised to effect a similar increase of the
related capital increase.”

8.4
The Board of Directors proposes that the wording of article 8.1, no. 7)
concerning the item on the agenda authorisation to the Board to acquire own
shares be clarified to reflect, to a higher degree, the requirements of section
198 of the Danish Companies Act and the Company's current practice for granting
such authorisations:

"Article 8.1, no. 7)
Any authorisation to the Board of Directors pursuant to section 198 of the
Danish Companies Act to allow the Company to, during a period of 18 months from
the date of the Annual General Meeting, acquire own shares of up to 10% of the
Company's share capital from time to time against payment of between DKK 0 and
up to 10% above the official selling price quoted from time to time on NASDAQ
OMX Copenhagen A/S.”

8.5
The Board of Directors further proposes that a few adaptations and
clarifications be incorporated in the Articles of Association as set out in the
marked version of the draft revised Articles of Association posted on the
Company's website:www.topsil.com under “Investors/Publications”.

8.6
Authorisation to the chairman of the general meeting:

Authorisation to the chairman of the general meeting to make relevant changes
to the numbering of the provisions of the Articles of Association as a
consequence of the amendments to the Articles of Association that may have been
adopted at the Annual General Meeting. Furthermore, the chairman of the general
meeting is authorised to make such changes in and supplements to the
resolutions approved at the general meeting and the notification to the Danish
Business Authority as may be required by the Danish Business Authority in order
to register the amendments adopted.

9.
Any other business

General information
The share capital of Topsil Semiconductor Materials A/S amounts to DKK
132,028,539.25 nominal value divided into 528,114,157.00 shares of DKK 0.25
each. Each share amount of DKK 0.25 entitles the holder to one vote.

Topsil Semiconductor Materials A/S has entered into an affiliation agreement
with VP Securities A/S. Accordingly, the shareholders’ financial rights may be
exercised through VP Securities A/S.

Rules on adoption
Items considered at the general meeting will be determined by a simple majority
of votes, except for matters under item 8, which require a majority of at least
2/3 of the votes cast and of the voting share capital represented at the
general meeting in pursuance of section 106 of the Danish Companies Act.

The Company's website
This notice, including the agenda and the complete proposals to be submitted
and considered at the general meeting, information about the total number of
shares and voting rights at the date of this notice, forms for appointing
proxies, for voting by correspondence and for requesting admission cards as
well as any other documents to be presented at the Annual General Meeting,
including the annual report for 2012, including the auditors' report, and
signed by the Management Board and the Board of Directors, and the draft
revised Articles of Association, will be available for the shareholders on the
Company’s website www.topsil.com under ”Investors/Events and presentations” as
from 22 March 2013.

This notice convening the Annual General Meeting has also been published
through NASDAQ OMX Copenhagen A/S, the IT system of the Danish Business
Authority, the Company's website and by e-mail to shareholders having requested
to receive notices of general meetings by e-mail by providing their e-mail
address.

Record date
A shareholder’s right to vote at the Company's general meetings, or to vote by
correspondence, on the shareholder's shares, is determined relative to the
shares held by the shareholders on the record date, which is one week before
the general meeting.

The record date is Monday, 15 April 2013.

The shares held by each shareholder are calculated on expiry of the record date
on the basis of registration of the shareholder’s shares in the register of
shareholders and notifications about ownership received by the Company for
entry into the register of shareholders, but which have not yet been recorded
in the register of shareholders. Notifications on shareholdings must be
provided in the form of a custody account statement from VP Securities A/S or
similar documentation for the shareholders to be registered in the register of
shareholders and for the shares to be included in the calculation. The Company
must receive such documentation before expiry of the record date.

Only persons registered as shareholders of the Company on the record date are
entitled to attend and vote at general meetings. See, however, the information
below on the deadline for shareholders to request admission cards.

Shareholders who have acquired shares through transfer or otherwise thus cannot
exercise the voting rights of those shares at general meetings, unless the
shareholders have been registered in the register of shareholders or have given
notice of and documented their acquisition on or before the record date which
is Monday, 15 April 2013.

Admission cards
In order to attend the Annual General Meeting, shareholders must request an
admission card on or before Thursday, 18 April 2013. To request an admission
card, please contact the Company on tel. +45 47 36 56 00, or by e-mail,
investor@topsil.com. Until Thursday, 18 April 2013 at 11:59 pm, requests for
admission cards may also be made electronically through the Company's website,
www.topsil.com, under “Contacts” (choose “Investor Relations”).

Proxy
Shareholders may be represented by a proxy at the general meeting. Completed
proxy forms must be received by the Company on or before Thursday, 18 April
2013 at 11.59 pm at the address Siliciumvej 1, DK-3600 Frederikssund. The proxy
form is attached to this notice and is also available from the Company up to
and including Thursday, 18 April 2013 at 4:00 pm by contacting the Company on
tel. +45 47 36 56 00 or by e-mail to investor@topsil.com. Until Thursday, 18
April 2013 at 11:59 pm, proxies may also be appointed electronically by e-mail
to investor@topsil.com.

Voting by correspondence
Instead of voting at the Annual General Meeting, shareholders may cast their
votes by correspondence before the general meeting is held. Votes by
correspondence must be received by the Company on or before Monday, 22 April
2013 at 10:00 am. The form for voting by correspondence is available on the
Company’s website, www.topsil.com, under “Investors/Events and Presentations”.
Votes by correspondence may also be given electronically by e-mail to
investor@topsil.com. Votes by correspondence received by the Company are
irrevocable. Please note that it may occasionally take several days before a
letter reaches the company.

Questions
Shareholders may ask questions concerning the agenda and the other material to
be used at the general meeting both before and at the general meeting.

Topsil Semiconductor Materials A/S

Jens Borelli-Kjær Kalle
Hvidt Nielsen
Chairman of the Board CEO

This announcement has been prepared in a Danish-language and an
English-language version. In case of doubt, the Danish version will prevail.

     Please direct any questions concerning this stock exchange

announcement to Susanne Hesselkjær,
tel. +45 29 26 67 52.