Source: http://reports.wacker.com/2018/annual-report/management-report/statutory-information-on-takeovers.html
Timestamp: 2019-04-26 06:47:24
Document Index: 484774118

Matched Legal Cases: ['§ 315', '§ 315', '§ 315', '§ 315', '§ 315', '§ 315', '§ 315', '§ 315', '§ 315']

Statutory Information on Takeovers - Wacker Chemie AG Annual Report 2018
Information Required by Section 315a (1) of the German Commercial Code (HGB)
The following table contains information required by Section 315a (1) of the German Commercial Code (HGB):
§ 315a (1) 1
Composition of subscribed capital:
Wacker Chemie AG’s subscribed capital comprises 52,152,600 non-par value voting shares. No other share classes have been issued. The total number of shares currently includes 49,677,983 held by external shareholders and 2,474,617 held by Wacker Chemie AG itself. WACKER’s treasury shares were acquired by repurchasing Wacker Chemie GmbH shares in August 2005, when it was still a private limited company. The Executive Board may use or sell 1,692,317 of these treasury shares with the consent of the Supervisory Board; use or sale of the remaining 782,300 shares requires Supervisory Board approval as well as a resolution by the Annual Shareholders’ Meeting.
§ 315a (1) 2
Restrictions on voting rights or on the transfer of shares:
There are no restrictions on voting rights or the transfer of shares.
§ 315a (1) 3
Direct or indirect capital stakes:
Each of the following holds a stake of over 10 percent of the subscribed capital: Dr. Alexander Wacker Familiengesellschaft mbH, based in Munich; Blue Elephant Holding GmbH, based in Pöcking; and Dr. Peter-Alexander Wacker, resident in Bad Wiessee and to whom the voting shares of Blue Elephant Holding GmbH are attributable.
§ 315a (1) 4
Owners of shares with special rights:
Shareholders have not been given any special rights that bestow powers of control.
§ 315a (1) 5
Method of voting-right control in the case of employee participation:
Insofar as employees hold shares in Wacker Chemie AG’s capital, they exercise their resulting control rights directly.
§ 315a (1) 6
Statutory provisions and articles of association regarding the appointment and dismissal of executive board members and amendments to said articles:
The provisions to appoint and dismiss Wacker Chemie AG’s Executive Board members are based on Section 84 et seq. of the German Stock Corporation Act (AktG). Wacker Chemie AG’s Articles of Association do not contain any further provisions in this respect. Pursuant to Article 4 of the Articles of Association, the number of Executive Board members is fixed by the Supervisory Board, which also appoints an Executive Board member as President & CEO. Amendments to the Articles of Association are covered by Sections 133 and 179 of the German Stock Corporation Act. In accordance with Section 179 (1) sentence 2 of the Act, the Supervisory Board has been empowered to amend the Articles of Association if only the wording thereof is affected.
§ 315a (1) 7
Authority of the executive board to issue or buy back shares:
In accordance with a resolution passed at the May 8, 2015 Annual Shareholders’ Meeting, Wacker Chemie AG’s Executive Board was authorized – in compliance with the legal provisions set out in Section 71 (1) no. 8 of the German Stock Corporation Act – to acquire treasury shares totaling a maximum of 10 percent of capital stock. No capital has been authorized for the issue of new shares.
§ 315a (1) 8
Major agreements associated with changes of control due to a takeover bid:
Various agreements with joint-venture partners include change- of-control clauses, which stipulate what is to happen if one of the joint-venture partners is taken over. These arrangements comply with the usual standards for such joint-venture agreements. In addition, several loan agreements contain change-of-control clauses. Here, too, the clauses are typical of this type of agreement.
§ 315a (1) 9
Severance agreements with the executive board or employees in the event of a takeover bid:
There are no severance agreements or similar with employees or with Executive Board members in the event of a takeover bid (please refer to the Compensation Report).
Control Instruments Economy
Note 10 Equity / Non-Controlling Interests
Free Float in WACKER Stock