Company: ADZCF
Filing Date: 2025-03-13
Form Type: 20-F
Source: 0001159508-25-000020
Chunk: 539

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-03-13
Form: 20-F
Chunk 539
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, resulting in a total portfolio provision for CHF and EUR mortgage cases of € 895million as of December 31, 2024 compared to € 534million as of December 31, 2023. Postbank Voluntary Public Takeover Offer.In September 2010, Deutsche Bank announced the decision to make a voluntary takeover offer for the acquisition of all shares in Deutsche Postbank AG ("Postbank"). On October 7, 2010, Deutsche Bank published its official takeover offer and offered Postbank shareholders a consideration of € 25for each Postbank share. This offer was accepted for a total of approximately 48.2million Postbank shares. Several former shareholders of Postbank who had accepted the takeover offer brought claims against Deutsche Bank alleging that the offer price was too low. The plaintiffs allege that Deutsche Bank had been obliged to make a mandatory takeover offer for all shares in Postbank, at the latest, in 2009. Based thereon, the plaintiffs allege that the consideration offered by Deutsche Bank for the shares in Postbank needed to be raised to € 57.25or even € 64.25per share. The claims for payment against Deutsche Bank in relation to these matters originally amounted to almost € 700million (excluding interest, which would be significant due to the long duration of the proceedings). At the end of April 2024, the Higher Regional Court of Cologne indicated in a hearing that it may find these claims valid in a later ruling. As a consequence, Deutsche Bank recognized a provision of € 1.3billion in the second quarter of 2024 to provide for the amount of all pending claims and cumulative interest. In the third quarter of 2024, Deutsche Bank reached settlement agreements as regards more than 60% of the plaintiff claims by value in the litigation (calculated based on the asserted shareholdings) which resulted in a partial release of the original provision. As of December 31, 2024 a provision of € 550million remains in place for the outstanding plaintiff claims as of December 31, 2024. On October 23, 2024, the Higher Regional Court of Cologne handed down its judgment in the remaining lead case and fully granted the plaintiffs' claims. The court did not grant a further leave to appeal to the Federal Court of Justice (BGH). On November 19, 2024, Deutsche Bank filed a complaint against the denial of leave to appeal with the BGH. The legal question of whether Deutsche Bank had been obliged