7 Change of control and defensive measures
The Liechtensteinische Landesbank is a banking institute licensed under Liechtenstein law with its registered office in the Principality of Liechtenstein. As a Liechtenstein bank listed on SIX Swiss Exchange, Liechtensteinische Landesbank AG must in addition to complying with Liechtenstein law also comply with various Swiss regulatory requirements. The obligation to disclose significant shareholders under Article 20 of the revised Stock Exchange Act (SESTA) applies also in regard to Liechtensteinische Landesbank AG (LLB) since the revised Stock Exchange Act (SESTA) and the revised Stock Exchange Ordinance (SESTO) came into effect on May 2013. Shareholders attaining, falling below or exceeding the threshold percentages of 3, 5, 10, 15, 20, 25, 33.33, 50 or 66.66 of voting rights must notify SIX (Exchange Regulation) and the LLB.
The Liechtensteinische Landesbank’s statutes contain no regulations comparable with the Swiss provisions regarding opting out or opting up. Likewise, there are no change of control clauses in favour of the members of the Board of Directors and / or the members of the Group Executive Board or other senior executives.
Pursuant to the Law on the Liechtensteinische Landesbank, the Principality of Liechtenstein holds at least 51 percent of the capital and votes.