Class A shares can be converted, if a shareholder should so demand (or in case of nominee-registered shares upon the demand of the asset manager entered in the book-entry register) into Class B shares insofar as conversion can be made within the framework of the maximum numbers of shares in each share class. A written demand for conversion that is to be presented to the company must state the number of shares that are to be converted and the book-entry account in which the book-entries corresponding to the shares have been entered. The conversion fee decided by the Board of Directors shall be paid to the company. The company can request that an entry be made in the book-entry account of the shareholder to restrict the transferability of the shares for the duration of the conversion process.
A conversion demand can be made at any time, however not after the company has made a decision to convene a General Meeting of Shareholders. A conversion demand made in the interval between said decision and the General Meeting of Shareholders is considered to have been presented and will be dealt with after the General Meeting of Shareholders and the subsequent record date, if any. A share conversion demand can be rescinded until the notice of conversion has been entered in the Trade Register. If conversion is rescinded, the company will request that the entry restricting share transferability be stricken from the shareholder’s book-entry account.
The company will charge all costs relating to the conversion of shares from the shareholder that has demanded the conversion.