GERMANY: BaFin Updates Notification of Major Holdings Form

Monday June 26 2017

On 26^th June 2017, BaFin published an updated standard from for notification of major holdings. The changes are relatively minor and are in relation to the footnotes of the form with slight changes in the wording and the removal of footnote “iii” with regards to change of breakdown of voting rights which stated it applies only in case that a threshold is crossed due to the change of breakdown of voting rights (passive crossing). If the subscription of new shares leads to a crossing of threshold(s) (active crossing), the box “acquisition/disposal of shares with voting rights applies.

Additionally, “Voting Rights 7.a” has been added which states that “the ISIN is mandatory. More than one ISIN apply only if more than one class of shares exist”.

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