Division report

The representative bodies of each of the legal entities involved in the division are to submit a detailed written report explaining and justifying in legal and economic terms the division, the details of the agreement or of its draft and, in the case of full divisions and partial divisions, in particular the share exchange ratio and the valuation methods used to determine it or the information regarding the memberships in the acquiring legal entities, the measure applying to their distribution as well as the amount of any cash settlement to be offered and the valuation methods used to determine it (division report); the representative bodies may also submit a common report. Section 8 (1), sentences 3 to 5, as well as subsections (2) and (3) are to be applied accordingly; in the case of a full division, section 8 (3) sentence 3 no. 1 letter (a) is not to be applied.