- BaFin – Translation -
This translation is furnished for information purposes only.
The original German text is binding in all respects.

By virtue of section 10 (4) sentence 1, section 15 (7) sentence 1, section 15a (5) sentence 1 and section 15b (2) sentence 1 of the Securities Trading Act (Wertpapierhandelsgesetz) as published in the announcement of 9 September 1998 (Federal Law Gazette I p. 2708), inserted by Article 1 of the Act of 28 October 2004 (Federal Law Gazette I p. 2630), the Federal Ministry of Finance issues the following Regulation:

Part 1
Scope of application

Section 1
Scope of application

This Regulation shall apply to the choice of home country pursuant to section 2b of the Securities Trading Act (Wertpapierhandelsgesetz), the reporting of suspicious transactions pursuant to section 10 of the Securities Trading Act, the publication and notification of inside information pursuant to section 15 of the Securities Trading Act, the publication and notification of transactions pursuant to section 15a of the Securities Trading Act, the maintenance of insider lists pursuant to section 15b of the Securities Trading Act, the publication and notification of changes in the percentage of voting rights pursuant to part 5 of the Securities Trading Act, the publication and notification of additional information pursuant to section 30e of the Securities Trading Act and the publication and storage of financial reports pursuant to part 11 sub-part 2 of the Securities Trading Act.

Part 2
Reporting of suspicious transactions

Section 2
Content of the report

(1) To the extent that the data are available, a report to the Federal Financial Supervisory Authority (Supervisory Authority) pursuant to section 10 (1) sentence 1 of the Securities Trading Act shall contain:

1. the

   1. full name or, in the case of legal persons, the company name; and
   2. business address
      of the party subject to the reporting requirement and the person filing the report on behalf of the party subject to the reporting requirement;

2. a description of the transaction within the meaning of section 10 (1) of the Securities Trading Act, including

   1. the name and place of the stock exchange or the off-exchange market;
   2. the type of trading, specifically floor trading or electronic trading;
   3. the type of transaction, in the case of client transactions specifically if the transaction was a purchase or sale from the client’s perspective;
   4. the date and time of the order placement and execution of the transaction;
   5. the order characteristics, specifically order validity and order limits;
   6. the financial instrument and its international securities identification number;
   7. the price, currency, number and trading volume of the financial instrument; and
   8. in the case of transactions in derivatives, the underlying instrument, strike price, price multiplier and expiration date;
3. for the facts giving rise to the suspicion that a transaction is in contravention of a prohibition or requirement pursuant to section 14 or section 20a of the Securities Trading Act;
4. an explanation of the grounds upon which these facts justify suspicion that a transaction is in contravention of a prohibition or requirement pursuant to section 14 or section 20a of the Securities Trading Act;

5. the information on the principal and the person acquiring rights or incurring liabilities from the transaction which is required for their identification and clarification of their roles in the transaction, as well as information concerning other persons involved in the transaction as follows:

   1. their full name or, in the case of legal persons, the company name;
   2. their private and business addresses;
   3. their date of birth;
   4. the securities account number of the securities account in question and the related customer identification number;
   5. an order number related to the transaction;
   6. the legal and commercial relationship between the principal and the person acquiring rights or incurring liabilities from the transaction, if they are separate entities;
   7. with regard to the other persons involved in the transaction, the form of their involvement;
6. any other information which may have significance in reviewing the matter.

(2) If not all of the data mentioned in subsection (1) are available at the time at which the report must be filed, at least those facts must be included which would give rise to suspicion that the transaction in question is in contravention of a prohibition or requirement pursuant to section 14 or section 20a of the Securities Trading Act. As soon as the missing data become available, they must be submitted without undue delay.

Section 3
Nature and form of the report

(1) The report shall be submitted in writing. If the report is submitted via fax, the report bearing a handwritten signature shall be submitted by mail upon request of the Supervisory Authority.

(2) The Supervisory Authority may permit submission of reports pursuant to subsection (1) by way of remote data transfer, provided state-of-the-art measures are in place to ensure data protection and data security, which specifically guarantee the confidentiality and integrity of the data, and provided that state-of-the-art encryption procedures are used in connection with the use of publicly accessible networks.

Part 3
Publication and notification of information, insider lists

Sub-part 1
General provisions

Section 3a
Nature of the publication of information

(1) The information to which this part relates shall be transmitted to the media, including such media as may be relied upon for the dissemination of the information throughout the European Union and in the other signatories to the Agreement on the European Economic Area. Unless otherwise determined, the publication shall be in compliance with subsections (2) to (4) and section 3b and its notification shall be in compliance with section 3c.

(2) In respect of the publication of the information by means of the media pursuant to subsection (1), it shall be ensured that

1. the information is received by the media including those that are able to actively disseminate the information as rapidly and as promptly as possible in all member states of the European Union and in all other signatories to the Agreement on the European Economic Area;

2. the text of the information is transmitted to the media in such a way that

   1. the sender of the information can be clearly identified;
   2. there is sufficient protection in place against unauthorised access or amendments to the data, and that confidentiality and safety of the transmission are also guaranteed by the nature of the means of transmission used or by state-of-the-art encryption of the data;
   3. errors or interruptions occurred during the transmission can be remedied without undue delay; and

3. during the transmission of the information to the media

   1. the name of the party subject to the publication requirement, including its address;
   2. a keyword which is recognisable as reference and summarises the essential content of the publication;
   3. the day and time of the transmission; and
   4. the aim to disseminate the information as prescribed information on a Europe-wide level

are recognisable.

The party subject to the publication requirement shall not be responsible for technical system errors occurred in the area of responsibility of those media to which the information was transmitted.

(3) For a period of six years, the party subject to the publication requirement must be able to notify, upon request, the Supervisory Authority of

1. the person who transmitted the information to the media;
2. the security measures used for the transmission to the media;
3. the day and time of the transmission to the media;
4. the medium used for the transmission to the media; and
5. if applicable, all data pertaining to the delay of the publication.

(4) If the party subject to the publication requirement commissions a third party to arrange for the publication, the party subject to the publication requirement shall remain responsible for the fulfilment of its publication requirement; the third party must fulfil the obligations set forth in subsections (1) to (3).

Section 3b
Language of the publication

(1) Issuers who are domiciled abroad or issuers whose home country is the Federal Republic of Germany pursuant to section 2 (6) no. 3 (a) of the Securities Trading Act or who have filed with the Supervisory Authority a prospectus in English for securities to which the information relates may effect the publication exclusively in English. Subsections (2) to (4) shall apply mutatis mutandis.

(2) Where the securities of an issuer whose home country is the Federal Republic of Germany pursuant to section 2 (6) of the Securities Trading Act are only admitted to trading on an organised market in Germany, the information shall be published in German. Where the securities are admitted to trading on an organised market in Germany and in one or more other member states of the European Union or in one or more other signatories to the Agreement on the European Economic Area, the information shall be published in German or in English and, depending on the choice of the issuer, in a language accepted by the competent authorities of the respective member states of the European Union or the respective signatories to the Agreement on the European Economic Area, or in English.

(3) A domestic issuer within the meaning of section 2 (7) no. 2 of the Securities Trading Act must publish the information in German or in English. An issuer who is domiciled in Germany and whose securities are not admitted to trading on an organised market in Germany but in more than one other member state of the European Union or signatory to the Agreement on the European Economic Area shall publish the information, depending on the choice of the issuer, in one of the languages accepted by the competent authorities of the respective member states of the European Union or the respective signatories to the Agreement on the European Economic Area, or in English; in addition, he may also publish the information in German.

(4) Where securities of a domestic issuer within the meaning of section 2 (7) of the Securities Trading Act are admitted to trading on an organised market in Germany or in one or more member states of the European Union or in one or more signatories to the Agreement on the European Economic Area, whose denomination per unit amounts to at least 50,000 euros or whose denomination per unit is, at the date of the issue, equivalent to at least 50,000 euros in another currency, the domestic issuer shall publish the information by way of derogation from subsections (2) and (3) in English or in a language accepted by the Supervisory Authority and, in the case of admission in other member states of the European Union or signatories to the Agreement on the European Economic Area, by the competent authorities of these states.

Section 3c
Notification of the publication

Unless otherwise provided for, the publication must be notified to the Supervisory Authority, specifying the text of the publication, the media to which the information was transmitted, and the exact time the information was transmitted to the media.

Sub-part 2
Publication and notification of inside information

Section 4
Content of the publication

(1) The publication pursuant to section 15 (1) of the Securities Trading Act must contain:

1. in the heading

   1. the clearly-highlighted title “Ad hoc disclosure pursuant to section 15 WpHG”,
   2. a keyword which is recognisable as a reference and summarises the essential content of the publication;

2. in respect of the issuer

   1. his name and
   2. his address;
3. the international securities identification numbers of the shares, bonds with warrants, convertible bonds and profit-participation certificates with equity-like features issued by the issuer if they are admitted to trading on an organised market in Germany, or if such admission has been applied for, as well as the stock exchange and trading segment for which the admission to trading has been granted or applied for; if the issuer has issued further financial instruments for which admission to trading has been granted or applied for, it is sufficient to indicate a website at which he shall make available the respective information on these financial instruments in a file which is to be always kept up to date and complete, with a clearly marked link on the main page to the page containing information for investors, under which the publication must be easy to find;
4. the information to be published;
5. the date on which circumstances on which the information is based occurred;
6. a short explanation of the extent to which the information directly relates to the issuer, if not apparent from the information provided under no. 4; and
7. an explanation as to why the information would be likely to have a significant effect on the stock exchange or market price if made publicly known, if not apparent from the information provided under no. 4.

The publication shall be kept short. If, pursuant to section 15 (1) sentences 4 and 5 of the Securities Trading Act, a person acting on behalf or for the account of an issuer is subject to the publication requirement, this person is obliged to inform the issuer thereof without undue delay and to indicate his authorship through inclusion of his name and address in the publication.

(2) If a new publication pursuant to section 15 (1) of the Securities Trading Act is required due to a significant change concerning already published information, it must include:

1. in the heading

   1. the clearly-highlighted title “Update to an ad hoc disclosure pursuant to section 15 WpHG”,
   2. a keyword within the meaning of subsection (1) sentence 1 no. 1 (b);
2. following the information set forth in subsection (1) sentence 1 nos. 2 and 3, the media to which the information was transmitted and the time of transmission;
3. the information to be published on the changed circumstances; and
4. the information within the meaning of subsection (1) sentence 1 nos. 5 to 7.

(3) The publication pursuant to section 15 (2) sentence 2 of the Securities Trading Act shall contain:

1. in the heading

   1. the clearly-highlighted title “Correction of an ad hoc disclosure pursuant to section 15 WpHG”,
   2. a keyword within the meaning of subsection (1) sentence 1 no. 1 (b);
2. following the information set forth in subsection (1) sentence 1 nos. 2 and 3, the content of the publication of the false information and the media to which the information was transmitted as well as the time of transmission;
3. the true information; and
4. the information within the meaning of subsection (1) sentence 1 nos. 5 to 7, with regard to the true information.

Section 5
Nature of the publication

Without prejudice to the obligations set forth in sections 3a and 3b, the party subject to the publication requirement shall ensure that the information

1. is made publicly known by way of an electronic system for the dissemination of information which is widely used by credit institutions, enterprises operating under section 53 (1) sentence 1 of the Banking Act (Kreditwesengesetz), other enterprises domiciled in Germany which are admitted to trading on a German stock exchange and insurance undertakings; and
2. provided that the party subject to the publication requirement has a website, is made available on such website for a minimum period of one month, with a clearly marked link on the main page to the page containing information for investors, under which the publication must be easy to find.

The publication pursuant to sentence 1 no. 2 may not be effected prior to the publication pursuant to sentence 1 no. 1. The requirements under this provision shall not apply to issuers within the meaning of section 2 (7) no. 2 of the Securities Trading Act.

Section 5a
Notification of the publication

(2) The movements in the individual intangible asset items shall be disclosed in the balance sheet or in the notes to the accounts. For this purpose, the balance sheet values at the end of the preceding financial year shall be taken as the starting base and additions, disposals, transfers, positive value adjustments and negative value adjustments over the financial year and the balance sheet values at the end of the financial year shall in each case be stated separately.

Section 6
Legitimate interests for delaying publication

Legitimate interests which, pursuant to section 15 (3) sentence 1 of the Securities Trading Act, may justify an exemption from the requirement for immediate publication pursuant to section 15 (1) sentence 1 of the Securities Trading Act exist if the issuer’s interest in keeping the information secret outweighs the interest of the capital market in complete and prompt publication. This may be in particular the case if

1. the outcome or the process of negotiations in course concerning business matters which, if made publicly known, would have the potential to significantly affect the stock exchange or market price, would be likely to be affected by the publication and such publication would seriously jeopardise the interests of investors; or
2. contracts made by the managing body of the issuer or other decisions taken had to be made publicly known together with the announcement that the approval of another body of the issuer needed in order for the contract or decision to become effective is still pending, and this would jeopardise the correct assessment of the information by the public.

Section 7
Ensuring confidentiality during the period of exemption from the publication requirement

During the period of exemption pursuant to section 15 (3) sentence 1 of the Securities Trading Act, the issuer is obliged to control access to the inside information by establishing effective arrangements

1. to deny access to inside information to persons other than those who require it for the exercise of their functions within the issuer; and
2. to ensure that the information can be published without undue delay in case the issuer is no longer able to ensure confidentiality.

Section 8
Content of the notification

(1) The notification pursuant to section 15 (4) of the Securities Trading Act shall contain:

1. the text of the intended publication;
2. the intended time of publication; and
3. a contact person of the issuer, including the telephone number.

(2) Additionally, in the case of section 15 (2) sentence 2 of the Securities Trading Act, an explanation of the grounds for the publication of false information is only required in the notification to the Supervisory Authority pursuant to section 15 (4) sentence 1 no. 3 of the Securities Trading Act. Section 4 (9) sentence 1 of the Securities Trading Act shall apply mutatis mutandis.

(3) Additionally, in the case of section 15 (1) sentences 4 and 5 of the Securities Trading Act, the issuer is only required to provide the following information in the notification to the Supervisory Authority pursuant to section 15 (4) sentence 1 no. 3 of the Securities Trading Act:

1. the full name of the person to whom inside information has been communicated or to whom access to inside information has been granted;
2. the business address or, if no business address exists, the private address of the above person;
3. the time at which the information was disclosed; and
4. in the case of section 15 (1) sentence 5 of the Securities Trading Act, the circumstances surrounding the inadvertent disclosure of information.

Section 4 (9) sentence 1 of the Securities Trading Act applies mutatis mutandis.

(4) The information pursuant to subsections (2) and (3) may be submitted within 14 days of publication.

(5) The notification to the Supervisory Authority pursuant to section 15 (3) sentence 4 of the Securities Trading Act shall contain:

1. the grounds for the exemption from the publication requirement; and

2. information concerning

   1. the point in time at which the decision to delay the publication was made, the later dates at which the validity of the grounds was reviewed and the point in time at which the decision concerning the notification and publication now to be effected was made; and;
   2. the full name as well as the business address and telephone number of all persons involved in making the decision about the exemption.

Section 9
Nature and form of the notification

(1) Notifications pursuant to section 8 shall be submitted in writing via fax. The notification bearing a handwritten signature shall be submitted by mail upon request of the Supervisory Authority. The management of the organised markets within the meaning of section 15 (4) sentence 1 nos. 1 and 2 of the Securities Trading Act may also make such a request, provided it is to receive a notification pursuant to these provisions.

(2) The Supervisory Authority may permit submission of notifications pursuant to section 8 by way of remote data transfer, provided state-of-the-art measures are in place to ensure data protection and data security, which specifically guarantee the confidentiality and integrity of the data, and provided that state-of-the-art encryption procedures are used in connection with the use of publicly accessible networks.

Sub-part 3
Publication and notification of transactions

Section 10
Content of the notification

The notification to the issuer and the Supervisory Authority pursuant to section 15a (1) sentence 1 concerning own transactions must include:

1. the clearly-highlighted title “Notification of transactions by persons discharging managerial responsibilities pursuant to section 15a WpHG”;

2. the

   1. full name or, in the case of legal persons, the company name;
   2. business address;
   3. phone number or the phone number of a contact person;
   4. date of birth in the case of natural persons and, if no business address exists, the private address;
      of the party subject to the notification requirement;
3. the name and address of the issuer;

4. in the form of a keyword, a description of

   1. the position and function of the person discharging managerial responsibilities within the issuer; and
   2. additionally, in the case of section 15a (1) sentence 2 of the Securities Trading Act, the close association of the party subject to the notification requirement with the person discharging managerial responsibilities;
5. an exact description of the financial instrument used in the transaction, including the international securities identification number; and

6. an exact description of the transaction, including information concerning

   1. the nature of the transaction, specifically if the transaction was an acquisition or disposal;
   2. the date and place of the transaction;
   3. the date and place of the transaction
   4. the date and place of the transaction d) in the case of transactions in derivatives, the underlying instrument, strike price, price multiplier and expiration date..

Section 11
Nature and form of the notification

(1) Notifications pursuant to section 15a (1) sentence 1 of the Securities Trading Act must be submitted in writing. If the notification is submitted via fax, the notification bearing a handwritten signature shall be submitted by mail upon request of the Supervisory Authority.

(2) The Supervisory Authority may permit submission of notifications pursuant to section 15a of the Securities Trading Act by way of remote data transfer, provided state-of-the-art measures are in place to ensure data protection and data security, which specifically guarantee the confidentiality and integrity of the data, and provided that state-of-the-art encryption procedures are used in connection with the use of publicly accessible networks.

Section 12
Content of the publication

The publication pursuant to section 15a (4) sentence 1 of the Securities Trading Act shall contain

1. the clearly-highlighted title “Notification of transactions by persons discharging managerial responsibilities pursuant to section 15a WpHG”;
2. the full name or, in the case of legal persons, the name of the party subject to the notification requirement;
3. the name and address of the issuer;
4. information as to whether the notifying party discharges managerial responsibilities within the issuer or is a party closely associated with such a person pursuant to section 15a (3) of the Securities Trading Act;
5. in the form of a keyword, a description of the position and scope of duties of the person who discharges managerial responsibilities; and
6. the information pursuant to section 10 nos. 5 and 6.

Section 13
Nature of the publication

The Supervisory Authority may publish the information on the internet on its own website in addition to the publication pursuant to section 15a (4) sentence 1 of the Securities Trading Act in conjunction with sections 3a and 3b.

Section 13a
Notification of the publication

Section 3c shall apply to the issuer’s notification to the Supervisory Authority in respect of the publication pursuant to section 15a (4) sentence 2 of the Securities Trading Act.

Sub-part 4
Insider list

Section 14
Content of the list

The list pursuant to section 15b (1) sentence 1 of the Securities Trading Act shall contain

1. the clearly-highlighted title “Insider list pursuant to section 15b WpHG”;
2. the name of the person required to maintain the insider list pursuant to section 15b (1) sentence 1 of the Securities Trading Act and the persons commissioned by him to maintain the insider list, stating their full name in the case of natural persons;

3. with regard to the persons to be included in the insider list,

   1. their full name;
   2. their date and place of birth; and
   3. their private and business addresses;
4. the reason why any such person is on the list; and
5. the date as of which each person has had access to inside information and, where applicable, the date as of which such access ceased; as well as
6. the date at which the list was created and, if applicable, last updated.

A reference to another list containing the requisite data may be substituted for the information required under sentence 1 no. 3 (b) and (c). It must be possible for this information to be added to the insider list at all times without undue delay. In the event that the insider list is submitted to the Supervisory Authority upon request, the list must contain such information.

Section 15
Correction

The list must be updated without undue delay if it has become incorrect. This is particularly the case if

1. there is a change in the reason why any person is already on the list;
2. any new person has to be added to the list; or
3. any person already on the list has no longer access to inside information.

Section 16
Retention and destruction

(1) It must be ensured that the data in the list are accessible at all times and can be put into a legible form at any time within a reasonable period. Section 257 (3) and (5) of the Commercial Code (Handelsgesetzbuch) shall apply mutatis mutandis to the retention. The list may not be published and must be retained in such a way that access is granted only to those who are responsible for the maintenance of the list within the company, who are commissioned to maintain the list and who, based on their profession, are subject to a statutory obligation of confidentiality.

(2) The data must be retained for a period of six years following their collection in such a way as to ensure that documentation as to which persons had access to inside information for any period during the six preceding years can be provided at all times. This period begins anew with each updated data record. Following expiration of the period, the data must be destroyed.

Sub-part 5
Publication and notification of changes in the percentage of voting rights

Section 17
Content of the notification

(1) The notification pursuant to section 21 (1) sentence 1 and subsection (1a) of the Securities Trading Act shall contain

1. the clearly-highlighted title “Voting rights notification”;
2. the name and address of the party subject to the notification requirement;
3. the name and address of the issuer;
4. the threshold that was crossed or reached and the information whether the voting rights have exceeded, fallen below or reached this threshold;
5. the percentage of the voting rights held in relation to the total number of the issuer’s voting rights, even if the exercise of these voting rights has been suspended, and in relation to the total number of shares of the same class carrying voting rights; and
6. the date the voting rights have exceeded, fallen below or reached the threshold.

(2) In the case of attribution of voting rights pursuant to section 22 (1) and (2) of the Securities Trading Act, the notification pursuant to subsection (1) shall additionally contain:

1. the name of the third party whose voting rights attached to his shares are attributed to the party subject to the notification requirement if the attributed percentage of voting rights amounts to 3 percent or more;
2. if applicable, the name of the controlled undertakings through which the voting rights are actually held if their attributed percentage of voting rights amounts to 3 percent or more.

The voting rights to be attributed shall be stated separately in the notifications pursuant to section 21 (1) and (1a) of the Securities Trading Act in respect of each number in section 22 (1) and section 22 (2) sentence 1 of the Securities Trading Act.

(3) In addition to the information pursuant to subsection (1) nos. 1, 2, 4 and 6, the notification pursuant to section 25 (1) sentence 1 of the Securities Trading Act shall contain:

1. the name and address of the issuer of the shares which may be acquired with the financial instruments or other instruments;
2. the sum of the amount of voting rights held and the amount of voting rights that would exist if the party subject to the notification requirement held, instead of financial instruments or other instruments, those shares that may be acquired under a formal agreement, as well as the information whether such sum would exceed, fall below or reach this threshold; the information in respect of the amount of voting rights must be stated in relation to the issuer’s total amount of voting rights;
   
   2a. the amount of voting rights that would exist if the party subject to the notification requirement held, instead of financial instruments or other instruments, those shares that may be acquired under a formal agreement; the information in respect of the amount of voting rights must be stated in relation to the issuer’s total amount of voting rights;
   
   2b. the amount of voting rights in relation to the issuer’s total amount of voting rights, even if the exercise of these voting rights has been suspended, and in relation to the total number of shares of the same class carrying voting rights;
   
3. if applicable, the chain of controlled undertakings through which the financial instruments or other instruments are held;
4. (repealed)
5. in respect of financial instruments or other instruments with a specific exercise period, a reference to the point in time the shares shall or may be acquired; and

the date of maturity or expiration of the financial instruments or other instruments.

(4) In addition to the information pursuant to subsection (1) nos. 2, 4 and 6, the notification pursuant to section 25a (1) sentence 1 of the Securities Trading Act shall contain

1. the name and address of the issuer of the shares which may be acquired with the financial instruments or other instruments;

2. the sum of the amount of voting rights held and the amount of voting rights that would exist if the party subject to the notification requirement held, instead of financial instruments or other instruments, those shares that may be acquired under a formal agreement, and the amount of voting rights that would exist if the party subject to the notification requirement held, instead of financial instruments or other instruments, those shares whose acquisition is enabled by financial instruments or other instruments; and the information whether such sum would exceed, fall below or reach this threshold; the information in respect of the amount of voting rights must be stated in relation to the issuer’s total amount of voting rights;

3. the amount of voting rights that would exist if the party subject to the notification requirement held, instead of financial instruments or other instruments, those shares that may be acquired under a formal agreement; the information in respect of the amount of voting rights must be stated in relation to the issuer’s total amount of voting rights;

4. the amount of voting rights in relation to the issuer’s total amount of voting rights, even if the exercise of these voting rights has been suspended, and in relation to the total number of shares of the same class carrying voting rights;

5. the amount of voting rights that would exist if the party subject to the notification requirement held, instead of financial instruments or other instruments, those shares whose acquisition is enabled by financial instruments or other instruments; the information in respect of the amount of voting rights must be stated in relation to the issuer’s total amount of voting rights;

6. if applicable, the chain of controlled undertakings through which the financial instruments or other instruments are held;

7. the date of maturity or expiration of the financial instruments or other instruments; and

8. if applicable, the International Securities Identification Number (ISIN) of the financial instrument or other instrument.

(5) For the purpose of calculating the amount of voting rights, the last publication pursuant to section 26a of the Securities Trading Act shall be taken as a basis.

Section 17a
Calculation of the amount of voting rights for the purpose of notification pursuant to section 25a (1) sentence 1 of the Securities Trading Act

The following shall not be included in the calculation of the amount of voting rights pursuant to section 25a (2) of the Securities Trading Act:

1. financial instruments or other instruments within the meaning of section 25a (1) sentence 1 of the Securities Trading Act that refer to own shares of an issuer whose home country is the Federal Republic of Germany and that have a structure that enable the issuer to acquire such shares; and

2. percentages of shares of an issuer whose home country is the Federal Republic of Germany in baskets or indices if, on the date of acquisition of the financial instrument of other instrument, the shares represent no more than 20 per cent in the calculation of the price of the financial instrument or other instrument within the meaning of section 25a (1) sentence 1 of the Securities Trading Act.

Section 18
Nature, form and language of the notification

Notifications pursuant to section 21 (1) sentence 1, subsection (1a), section 25 (1) sentence 1 and section 25a (1) sentence 1 of the Securities Trading Act shall be submitted to the issuer and the Supervisory Authority in writing or via fax in German or English.

Section 19
Content of the publication

The publication pursuant to section 26 (1) sentence 1 of the Securities Trading Act must contain the information stated in the notification; the full name of the party subject to the notification requirement, the registered office and country where the residence or registered office is situated shall be stated.

Section 20
Nature and language of the publication

The nature and language of the publication pursuant to section 26 (1) sentence 1 of the Securities Trading Act shall be in accordance with sections 3a and 3b; however, by way of derogation from this provision, the issuer may publish the notification in English if he has received that notification in English.

Section 21
Notification of the publication

Section 3c shall apply to the issuer’s notification to the Supervisory Authority in respect of the publication pursuant to section 26 (2) of the Securities Trading Act.

Sub-part 6
Publication and content of financial reports

Section 22
Nature and language of the publication

Sections 3a and 3b shall apply to the nature and language of the publication of the announcement pursuant to section 37v (1) sentence 2, section 37w (1) sentence 2 and section 37x (1) sentence 2 of the Securities Trading Act.

Section 23
Notification of the publication

Section 3c shall apply to the company’s notification to the Supervisory Authority in respect of the publication of the announcement pursuant to section 37v (1) sentence 3, section 37w (1) sentence 3 and section 37x (1) sentence 3 of the Securities Trading Act.

Section 24
Availability of the financial reports

The information within the meaning of section 37v (2) and section 37w (2) of the Securities Trading Act must be accessible to the public in the company register for a minimum period of five years.

Sub-part 7
Choice of home country

Section 25
Nature of the publication

The choice of the Federal Republic of Germany as the home country pursuant to section 2b of the Securities Trading Act shall be published pursuant to section 3a.

Sub-part 8
Publication of additional information

Section 26
Nature, language and notification of the publication

The publication pursuant to section 30e (1) sentence 1 of the Securities Trading Act shall be effected in accordance with sections 3a and 3b; however, the issuer may publish the information within the meaning of section 30e (1) sentence 1 no. 3 of the Securities Trading Act exclusively in English. The notification pursuant to section 30e (1) sentence 1 of the Securities Trading Act shall be effected pursuant to section 3c.

Part 4
Entry into force

Section 27
Entry into force

This Regulation shall enter into force on the day following its promulgation.