What happens if former bearer shareholders have not taken all necessary measures following the conversion ex lege?
As of November 1, 2019, bearer shares are no longer permitted, with two exceptions, and all bearer shares still in existence on May 1, 2021 have been converted by law into registered shares. For companies that have not voluntarily converted their bearer shares into registered shares by April 30, 2021 at the latest, the conversion took place by law on May 1, 2021. The bearer shares converted ex lege into registered shares are the subject of this article. This is due to the prescribed obligations and the resulting consequences for these former holders of bearer shares, for which the deadlines are still running today or will expire on November 1, 2024.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.