FRANKFURT (dpa-AFX) - Following its surprising exclusion from the Dax indices, commercial kitchen equipment supplier Rational wants to return to the MDax as soon as possible. The German stock exchange announced on Tuesday evening that the company was not complying with a criterion of the German Corporate Governance Code - i.e. the recommendations for good corporate governance. Specifically, this probably relates to the term of office of the Chairman of the Audit Committee of the Supervisory Board. However, Rational intends to comply with the rules again soon: Committee Chairman Hans Maerz will "no longer be a candidate for the Supervisory Board at the Annual General Meeting on May 8, 2024, as has been planned for some time," the company announced on request.

However, as of Monday, March 18, Rational will have to leave the MDax for the time being, albeit only temporarily. Following the election of a new chairman for the supervisory board's audit committee, the way should then be clear for a prospective return to the mid-cap index.

There was a similar case last year with Krones. Following its exclusion from the index, the manufacturer of bottling and packaging equipment appointed a new chairman of the audit and risk management committee on the supervisory board and soon returned to the Dax family.

Index changes are particularly important for fund providers that replicate indices in real terms, for example with exchange-traded index funds. They then have to rebalance accordingly, which can have an impact on share prices./mis/bek/stw