Amendment of the second EU Shareholder Rights Directive (SRD II)

Shareholders must be identifiable

To improve communication and especially information exchange between publicly traded companies and their shareholders, these publicly traded companies shall henceforth be allowed to know their shareholders‘ identities.

From 3 September 2020 forward banks will be legally obliged to provide publicly listed companies upon demand with the data of portfolio holders invested in their stock.

This identification right is regulated in the German Stock Corporation Act and derives from the second EU Shareholders Rights Directive:

“Article 67, paragraph d of the German Stock Corporation Act (Aktiengesetz, AktG) on Stock Corporations’ Right to Information Relative to Intermediaries

(1) A publicly traded company may demand from intermediaries holding their stock in custody information on the identity of their shareholders and any subsidiary intermediary. Form and content of such an information request depend on Execution Agreement EU 2108/1212.“

Joint Stock Corporations may exercise their shareholder information right against all banks in the chain of custody holding their stock. This right applies to both bearer shares and registered shares.

Your account advisor will gladly answer all your questions in this matter.

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