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Oberhammer, BPV Huegel, and DLA Piper at First Virtual Shareholders’ Meeting in German-Speaking Country

Oberhammer, BPV Huegel, and DLA Piper at First Virtual Shareholders’ Meeting in German-Speaking Country

Austria
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Oberhammer Rechtsanwalte, BPV Huegel, and DLA Piper, acting with Ewald Oberhammer, Christoph Nauer, and Christian Temmel, respectively, as independent proxies at the general meeting of Schoeller-Bleckmann Oilfeld Equipment Aktiengesellschaft -- the first virtual general meeting of a listed company in the German-speaking countries, together with Wilhelm Rasinger from the Interessensverband der Anleger (IVA).

According to the COVID-19 Company Law Regulation, listed companies may hold their shareholders’  meetings virtually if four independent proxies are appointed (and SBOE is listed on the Vienna Stock Exchange in the prime market segment). Thus, shareholders were able to submit requests via the proxies at the general meeting. The shareholders’ meeting was streamed live on the Internet, and shareholders were able to ask questions to the Management Board before and during the meeting. Shareholders were also entitled to change their instructions to the proxies during the shareholders.

According to a BPV Huegel press release, "Ewald Oberhammer (Oberhammer Rechtsanwälte), Christoph Nauer (bpv Huegel) and Christian Temmel (DLA Piper Weiss-Tessbach) are of one opinion that this way of holding shareholders’ meetings has proven as good practice and that in the future, also after the end of the current COVID-19 restrictions, virtual shareholders’ meetings could be held more often."

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