The sanction related to a breach of section 130 (1) of the German Act on Breaches of Administrative Regulations (Ordnungswidrigkeitengesetz – OWiG) in conjunction with section 40 (1) sentence 2 of the German Securities Trading Act (Wertpapierhandelsgesetz – WpHG). Covestro AG failed to publish notification that it had reached a relevant threshold in respect of its own shares within the prescribed period.
The company may lodge an appeal against the administrative fine order.
