The recently passedShareholders’ Rights Amendment Act (AktRÄG 2019), which in essential areas comes into force immediately or even retroactively with 10. June 2019 comes into force, brings some fundamental innovations for listed stock corporations.

 

In addition to completely new transparency obligations for the remuneration of executive boards and supervisory boards in the form of a remuneration policy to be drawn up by the supervisory board and an annual remuneration report, there are also additional approval and publication regulations for transactions with related parties New people introduced.

 

In addition, the law also brings some changes to the procedure before the committee for reviewing the exchange ratio.

Overall, from today’s perspective, increased transparency can be expected; However, since the regulations are relatively toothless, it remains to be seen whether there will be any actual added value for shareholders. In any case, it is clear that listed stock corporations will incur additional administrative costs, for which one should be prepared in good time in view of the regulations that are essentially already in force.

Further details can be found on our homepage.

Newsletter