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Conflicts of interest

In accordance with the valid legal regulations according to (EU) 596/2014 in connection with DelVO (EU) 2016/ 958 the following conflicts of interest applicable to B. Metzler seel. Sohn & Co. AG including its affiliates (in summary "Metzler") exist with the Companies and related securities named here:

1. Metzler, a company affiliated with Metzler and/or a person that has worked on compiling this report holds shares exceeding 5% of the total issued share capital in the issuer.

2. Metzler and/or a company affiliated with Metzler holds shares of this issuer in its trading portfolios.

  • Daimler Benz AG

3. Metzler, a company affiliated with Metzler and/or a person that has worked on compiling this report has been responsible or partly responsible for the offering of the issuer’s financial instruments in the past twelve months.

  • ABO Energy GmbH & Co. KGaA
  • Electrovac AG 
  • Gabler Group AG
  • Mutares SE & Co. KGaA
  • PNE AG

4. Metzler, a company affiliated with Metzler and/or a person that has worked on compiling this report is a market maker or liquidity provider for the issuer’s financial instruments.

5. Metzler and/or a company affiliated with Metzler holds a net short or long position of more than 0.5% of total issued share capital in the issuer.

6. Metzler, a company affiliated with Metzler and/or a person that has worked on compiling this report has reached an agreement with the issuer in the past twelve months about the provision of investment services according to appendix I section A and B of guideline 2014/65/EU by the European Parliament and the Council or there was an obligation to pay or receive compensation within the same timeframe based on the same guideline.

  • ABO Energy GmbH & Co. KGaA
  • PNE AG
  • ThyssenKrupp Marine Systems AG & Co. KGaA

7. Metzler and/or a company affiliated with Metzler expects the company to pay remuneration for the provision of investment services in the next three months according to appendix I section A and B of guideline 2014/65/EU by the European Parliament and the Council.

  • ABO Energy GmbH & Co. KGaA
  • ThyssenKrupp Marine Systems AG & Co. KGaA

8. A member of the management board or staff member at Metzler and/or a company affiliated with Metzler is a member of the issuer’s Supervisory Board or other body. 

  • Deutsche Börse AG
  • DWS Group GmbH & Co. KGaA
  • Fraport AG

9. A staff member of the issuer is a member of Metzler’s and/or a Metzler-affiliated company’s Supervisory Board or Advisory Council.

10. A Metzler analyst responsible for covering the issuer or a person involved in producing the recommendation holds financial instruments of the issuer or has other interests in the issuer that could give rise to conflicts of interest.

11. Metzler, a company affiliated with Metzler or a person that has worked on compiling this report has other significant financial interests involving the issuer.

12. A person closely associated with the analyst holds financial instruments of the issuer or has other interests in the issuer that could give rise to conflicts of interest.

13. This publication is issuer-sponsored research and has been prepared in accordance with the EU Code of Conduct for issuer-sponsored research pursuant to Article 24 (3c) Directive 2014/65/EU and the associated Commission Delegated Regulation. Metzler, a company affiliated with Metzler and/or a person that has worked on compiling this report has reached an agreement with the issuer relating to the production of investment recommendations. This analysis is fully funded by the issuer and therefore publicly available. We refer to our Conflicts of Interest Policy. 

  • 2G Energy AG
  • ABO Energy GmbH & Co. KGaA
  • BayWa AG
  • Branicks Group AG
  • Cherry SE
  • Energiekontor AG
  • Ernst Russ AG
  • Formycon AG
  • GFT Technologies SE
  • Hornbach Holding AG & Co. KGaA
  • KSB SE & Co. KGaA 
  • Masterflex SE
  • MLP SE
  • PFISTERER Holding SE
  • PNE AG
  • SFC Energy AG
  • SMA Solar Technologies AG
  • SV Werder Bremen GmbH & Co KGaA

14. The analyst who produced the recommendation or a person involved in producing the recommendation received or acquired shares of the issuer at a price of […] prior to their public offering on […].

Additional information is available upon request.