§ 21 of the German Securities Trading Act constitutes the following: „If through acquisition or disposi-tion someone reaches, surpasses or falls below a threshold of 3%, 5%, 10%, 15%, 20%, 25%, 30%, 50%, or 75% of voting rights in a quoted company, a notification has to be made without delay.”
If voting rights can already be attributed, a notification pursuant § 22 WpHG has to be made. If the notifier holds derivatives which constitute directly or indirectly the right to purchase voting shares, a notification pursuant § 25 WpHG has to be made. Corresponding references can be found in the indi-vidual notification.

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