LEG Immobilien AG’s Scrip Dividend Payment And Rights Offering


Hogan Lovells advised Deutsche Bank AG on the transaction.

Deutsche Bank AG was involved in the payment of a scrip dividend and the related rights issue by LEG Immobilien AG.

The shareholders’ meeting of LEG Immobilien AG resolved a dividend payment of EUR 3.60 per share on 19 August 2020. The shareholders were given the choice of receiving the dividend in cash or in the form of shares of LEG Immobilien AG. During the subscription period shareholders holding a total of 32.906% of the shares entitled to dividends chose the scrip dividend instead of the cash dividend. To create the 716,107 new shares, LEG Immobilien AG increased its share capital by making use of authorized capital. The volume of the dividend entitlements converted into shares corresponds to EUR 84,557,914.56.

Hogan Lovells advised Deutsche Bank AG in its role as settlement agent on all issues concerning the structuring and execution of the transaction. The team inlcuded Prof. Dr. Michael Schlitt (Picture – Partner, Lead Partner), Mark Devlin (Counsel), Dr. Susanne Ries (Of Counsel), Dr. Timo Lockemann (Associate), Christian Schröder (Associate), Eva-Christina Sommer (Business Lawyer), Simona Gradišek (Business Lawyer) (all Corporate and Capital Markets, Frankfurt).

In-house (Deutsche Bank Aktiengesellschaft, Frankfurt): Dr. Joachim Schelm, Dr. Renate Kreibich.

Involved fees earner: Mark Devlin – Hogan Lovells; Timo Lockemann – Hogan Lovells; Susanne Ries – Hogan Lovells; Michael Schlitt – Hogan Lovells; Christian Schröder – Hogan Lovells; Eva-Christina Sommer – Hogan Lovells;

Law Firms: Hogan Lovells;

Clients: Deutsche Bank AG;