Frasers Hugo Boss Stake & Control Threshold Simulator

Capital Allocation & Turnout

Direct Voting Shares (Physical) 25.0% (17,600,000 shares)

Derivatives Exposure (Put Options / CFDs) 23.0% (16,192,000 shares)

AGM Expected Shareholder Turnout 72.5%

Anchor Strategic Partner (e.g., Marzotto Family) 15.0%

Total Economic Exposure

48.0%

33,792,000 shs

AGM Effective Voting Power

34.48%

of cast votes

If Converted to Physical

66.21%

AGM majority power

Free Float Remaining

52.0%

36,608,000 shs

⚖️ Substantial Influence / De Facto Working Majority at Typical Quorum

Frasers controls 34.48% of attending votes at 72.5% AGM turnout without triggering the § 35 WpÜG 30% mandatory takeover offer.

Dual-Ring Cap Table & Takeover Thresholds WpÜG & AktG Rules

WpÜG § 35 Mandatory Takeover Bid (30.0% Direct Voting)

Requires cash buyout offer to all remaining shareholders

NOT TRIGGERED (25.0%)

AGM Ordinary Resolution Working Majority (>50.0% of Quorum)

Frasers solo or with 15% Anchor Partner voting block

SOLO: 34.48% | COALITION: 55.17%

AktG § 179 / § 293 Supermajority (75.0% Control / Domination)

Enables profit-and-loss transfer and structural changes

INACTIVE

AktG § 327a Squeeze-Out Threshold (90.0% / 95.0%)

Complete minority buyout & delisting rights

INACTIVE