General Discussion, page-4

https://www.bafin.de/SharedDocs/Veroeffentlichungen/DE/Massnahmen/40c_neu_124_WpHG/meldung_2024_08_29_Altech_Batteries_Limited.html?nn=19646580&cms_expanded=true



Company29.08.2024 | Topic MeasuresAltech Batteries Limited: BaFin imposes finesOn July 5, 2024, the financial supervisory authority BaFin imposed fines of EUR 90,000 on Altech Batteries Limited. The reason was that the company had breached its obligations under the German Securities Trading Act (WpHG). It had not submitted voting rights notifications on time.The fine is legally binding.Background: Voting rights notification obligationsShareholders must notify the issuer and BaFin within four trading days if their voting rights exceed certain thresholds.Shareholders must use a notification form for their voting rights notification. This is regulated in Section 12 (1) of the Securities Trading Notification Ordinance (WpAV).The obligation to notify voting rights serves to ensure transparency on the capital market. This is intended to increase the attractiveness of Germany as a financial center in international competition and strengthen investor confidence in the functioning of the German stock market.If notifying parties do not inform the issuer and BaFin in good time if their shares exceed or fall below certain thresholds, they are in breach of Section 33 (1) sentence 1 WpHG. BaFin can punish this with a fine. For legal entities, this amounts to a maximum of ten million euros or up to five percent of total turnover
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Did somebody take notice of the fines of August?