Wednesday, February 1, 2017

Deutsche Börse – suspicion against He – Sü

The Prosecutor’s office in Frankfurt is investigating the Chairman of the Board of the German stock exchange because of a stock purchase. It is possible insider trading./p>

the head of The German stock exchange, Carsten, the device in the middle of negotiations about a merger with the London Stock Exchange (LSE) to the attention of the prosecutors. The Frankfurt public Prosecutor’s office determined against He because of this has good purchased two months before the announcement of the negotiations with the LSE in a big way, shares of Germany’s largest stock exchange operator. Chairman of the Supervisory Board Joachim Faber was behind He. “The allegations are baseless,” he said on Wednesday evening. He had acquired the shares for about a month prior to the start of merger negotiations with the LSE.

in financial circles, according to investigators searched on suspicion of Insider trading on Wednesday rooms in the Headquarters of Deutsche Börse in Eschborn near Frankfurt. He, occurred on Tuesday evening at the new year’s reception of the company in London, had not even been present. The company said the office of the public Prosecutor. in the case of the German stock exchange due to the acquisition of the Shares of He on 14 December 2015 is determined to implement a new Executive compensation program. “The company and the Chairman of the Board to cooperate fully with the Prosecutor’s office.” He had bought the shares as part of a compensation program, approved by the Supervisory Board and the had been limited until the end of December 2015, said Faber. According to business report, He bought in December of 2015 from its own resources to share for 4.5 million euros and undertook to keep this at least until the end of 2019. This was the condition that he got from the German stock exchange in the framework of the compensation program in addition, so-called Co-Performance Shares for 4.5 million euros. The value of development depends on the consolidated net income in the next five years, as well as of the share returns for the German stock market compared to other financial groups. Be paid out gradually from 2019. The Supervisory Board wanted to bind He an Insider, according to the program for the long term. The Compliance and legal Department have reviewed the purchase of shares in advance and given the green light.

He himself has talked about the share purchase in January 2016 in a newspaper interview, open. The asset Manager of a major Bank bought the shares for him in three Orders, each with 20 000 pieces, he said at the time, with a clear price limit.

The 49-year-old He, who had previously worked for the investment banks UBS and Goldman Sachs, met in April, 2015 to the German stock exchange and took over two months later, the management of the company. Chairman of the Supervisory Board of Faber signed him in the hope that He provides in the case of the German stock exchange for the new growth. Financial circles according to which He began immediately after he took office with his colleagues on the Board to talk about opportunities for growth, and possible mergers and acquisitions, including a Deal with the LSE. The concrete preparation of the LSE merger, and the first exploratory talks were held according to insiders, however, until January 2016 – that is, after Kengeters of purchase of shares.

“Only in the second half of January 2016 was agreed between the two Chairmen and CEOs together to begin negotiations on a merger between the LSE Group plc and Deutsche Börse AG,” said Faber. Until the end of February leaked information about the merger talks, both companies confirmed. The share prices of the German stock exchange and the LSE rose markedly. The shareholders of both companies have already spoken with a large majority for the 25 billion Euro Deal. The approvals by the EU Commission and the Hessian stock exchange Supervisory authority, the major objections to the merger has, however, yet.


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