Change of control and defensive measures

Duty to make an offer

The Articles of Association contain an opting up clause. Any shareholder who holds more than 40% of the voting rights has a duty to submit an offer for all of the company's listed equity securities within the meaning of Art. 135 of the Financial Market Infrastructure Act (see Art. 34 of the Articles of Association). 

Change-of-control clause

There are no agreements concerning change of control with members of the Board of Directors or other members of management. 

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