Allen & Overy advises Scout24 AG anew on its Annual General Meeting

The virtual Annual General Meeting of Scout24 AG approved all resolutions proposed by the company with large majorities, thereby clearing the way for key agenda items, which included the new remuneration system of the Management Board and the authorisation to purchase further treasury shares. In particular, it laid the foundation for the planned transformation of the company into a European Stock Corporation (Societas Europaea, SE).  The change of legal form is intended to underline Scout24's positioning as a future-oriented European technology company.

The approval of the virtual Annual General Meeting marks a major milestone on the company’s path to become a European Stock Corporation. This enables Scout24 AG to conclude the current process to regulate the participation of employees by means of an agreement with the Special Negotiating Body and to subsequently have the change of legal form recorded in the commercial register.

Due to the restrictions caused by the Covid-19 pandemic, the Annual General Meeting was held as a purely virtual event without the physical presence of shareholders or their proxies for the second year in a row.

Allen & Overy’s team advising on the virtual Annual General Meeting and the corporate law aspects of the change of legal form comprised partners Dr Christian Eichner and Dr Hans Diekmann (both Dusseldorf) as well as counsels Dr Katharina Stueber (Frankfurt) and Kyrill Chilevych (Dusseldorf). In addition, the team included associates Simon Binn, Eva Hohmann (both Dusseldorf) and Christina Koenig (Frankfurt, all Corporate/M&A). Allen & Overy’s team providing advice on employment law comprises partner Dr Hans-Peter Loew, counsel Dr Sebastian Schulz (both Frankfurt) and associate Marc Alberding (Dusseldorf, all Employment & Benefits).

Scout24 AG was advised inhouse by Dr Christian Ronge (General Counsel) and Nicole Mueller.