Baader Bank’s Scrip Dividend Offer

CMS advised DZ BANK AG on the transaction.

Baader Bank Aktiengesellschaft, a company listed on the Regulated Unofficial Market (Freiverkehr), has for the first time offered its shareholders the option of receiving the dividend in cash or as shares in the company (referred to as a stock dividend or scrip dividend).

Both treasury shares and new shares from a capital increase were used for this purpose. The acceptance rate for the scrip dividWithin the process of the scrip dividend, shareholders holding a total of 67.1 % of the existing entitled share capital of the company have opted to subscribe for shares. This corresponds to a subscription of 1,056,316 shares at the subscription price of EUR 7.25 determined and announced on 27 August 2021.

Baader Bank is a family-managed full-service bank based in Unterschleißheim near Munich. It engages in Market Making, Capital Markets, Multi Asset Brokerage, Asset Management Services, Banking Services and Research.

The CMS team included Dr Andreas Zanner (Picture), Lead and Client Relationship Partner, Frankfurt/Main, Corporate Law; Patrick Damanik, Senior Associate, Frankfurt/Main, Banking & Finance; Dr Richard Mayer-Uellner, Partner, Cologne, Corporate Law.

Involved fees earner: Patrick Damanik – CMS Hasche Sigle; Richard Mayer-Uellner – CMS Hasche Sigle; Andreas Zanner – CMS Hasche Sigle;

Law Firms: CMS Hasche Sigle;

Clients: DZ BANK AG;

Author: Federica Tiefenthaler