Follow-up obligations Open Market

Follow-up obligations Open Market

Reporting and submission of changes

The issuer must inform Deutsche Börse AG immediately in the event of changes with regard to the company or its included securities.

Obliged are issuers

  • in Scale for equities 
  • in Scale for corporate bonds
  • (partially) in Basic Board

Briefly, this needs to be done:

  • Any changes with regard to the company or its included securities
  • need to be transmitted to Deutsche Börse AG promptly.

Legal basis

  • Sect. 21 Paragraph 1 Let. g) aa) to ee) GTC DBAG for issuers of shares and certificates representing shares in scale
  • Sect. 22 Paragraph 1 and Sect. 21 Paragraph 1 Let. g) aa) to ee) GTC DBAG for issuers of bonds in scale
  • Sect. 28 and Sect. 21 Paragraph 1 Let. g) aa), bb) and for former Scale issuers also ee) GTC DBAG for issuers of shares and certificates representing shares in Basic Board
  • Sect. 28, Sect. 22 Paragraph 1 and Sect. 21 Paragraph 1 Let. g) aa), bb) and for former Scale issuers also ee) GTC DBAG for issuers of bonds in Basic Board.

Reporting obligations in detail

Deutsche Börse AG must be notified of the following changes:

  • all changes with regard to data provided in the company profile pursuant to Sect. 17 Paragraph 3 Let. h) GTC DBAG;

    Reporting is by submission of a correspondingly updated company short profile to Deutsche Börse AG over the Exchange Reporting System-interface (ERS). Such changes are in particular name changes, relocations of registered offices, address changes, financial year changes, changes on the management or supervisory board, change or relocation of operative business or change of specialist or designated sponsor.

  • all capital market measures;

    Notification is to be submitted by e-mail to listing@deutsche-boerse.com together with information on the capital measure.
    Such capital measures are in particular capital increases and capital reductions, share splits or consolidation, the issuance of subscription rights and (official) dividend payments (as published following the approval by the Annual General Meeting).

  • every termination by the issuer in Scale of a contract with a supporting capital market partner;

    Notification is to be submitted by e-mail to rule-enforcement@deutsche-boerse.com together with the date of the termination notice, the date of the termination of the contract and the reason for termination.

  • every new contract that has been concluded between the issuer in Scale and a supporting capital market partner;

    Notification is to be submitted by e-mail to rule-enforcement@deutsche-boerse.com together with the new contract, which must have the minimum content pursuant to Annex 1 as well as – in the case of an issuer domiciled abroad – a written proxy of the issuer, authorising receipt and delivery pursuant to Sect. 17 Paragraph 3 Let. j) GTC DBAG.

  • every change with regard to the contact persons named by the issuer for the inclusion follow-up obligations pursuant to Sect. 17 Paragraph 1 Let. h) GTC DBAG, or to their contact details;

    Notification is to be submitted by e-mail to rule-enforcement@deutsche-boerse.com along with information on the new contact persons and their contact details. Basic Board issuers must only report changes with regard to contact persons if they, as former Scale issuers, had previously named contact persons for the inclusion follow-up obligations.

Language requirements

Notifications of changes with regard to issuers and their included securities must be in either German or English.

Time requirements

The aforementioned notifications must be submitted promptly i.e. without undue delay.

Frequently asked questions

How does Deutsche Börse AG sanction violations of this follow-up obligation?

Deutsche Börse AG can impose a contractual penalty on the negligent issuer. The precise amount of the penalty imposed by Deutsche Börse AG depends in particular on the duration and extent of the violation and the significance of the violation for the capital market.

Deutsche Börse AG may also publish the penalty imposed, naming the issuer and the specific violation, on its internet site.

Contact

Rule Enforcement

Phone +49 (0) 69 - 211 – 1 38 88
E-Mail: rule-enforcement@deutsche-boerse.com

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