Please wait…

Market Segments and Transparency Levels
Segment by German law: Regulated Market

Gesetzliches Segment Regulierter Markt
The Regulated Market is an organized market in accordance with the German Securities Trade Act (WpHG). This means that the admission requirements and the follow-up obligations of the participants and organizations are regulated by law.
Admission under public law

Prior to its listing, an issuing company must go through an admission procedure under public law. The company must have existed for at least three years and have issued at least 10,000 shares. 25 percent of the shares must be owned by diversified holdings. In addition, the company must provide an admission prospectus, in which balances, profit and loss, as well as the capital stream from the past three years are stated. The publishing language is German and, for foreign issuers, in English. The details governing an admission and the follow-up obligations are regulated in the German Stock Exchange Act, the Stock Exchange Admission Regulation, the German Prospectus Act as well as the Exchange Rules.

Former Official Market ('Amtlicher Markt') and Regulated Market ('Regulierter Markt")

As of November 1, 2007, the subdivision of Official and Regulated Markets no longer exists. Securities entered into these markets on or since this date are now listed only in the Regulated Market.

Variable quotation

In the Regulated Market securities are traded both through the electronic trading platform Xetra and at the Frankfurt trading floor.

In open outcry trading on the trading floor, lead brokers now quote the prices of securities mostly in a variable, i.e. continuous manner. The mid-day single cash price, referred to as cash settlement price, is quoted for all securities that are not traded variably. This however, only concerns a few commercial papers.

Market orders must first be executed at the quoted price. If all orders are not executed, the lead broker can "scale them down", i.e., he restricts the execution to certain priorities. Investors can see through price addenda how a lead broker has executed their order.

Further information

The following Disclaimer and Information has been prepared by Voltabox AG (the “Issuer”) for the purpose of publishing THE securities prospectus by the issuer. Deutsche Boerse AG does not assume any responsibility for the content of the issuer`s Disclaimer and information.


Important Information


The information contained on the following web pages is directed only at persons who are resident of or domiciled in the Federal Republic of Germany (“Germany”) or the Grand Duchy of Luxembourg (“Luxembourg”). The following information does not constitute an offer to sell or a solicitation of an offer to buy or subscribe for any securities. No offer of securities of the Issuer is being, or will be, made to the public outside Germany and Luxembourg. The offer in Germany and Luxembourg is being made solely on the basis of the securities prospectus (including any amendments thereto) which has been approved by the German Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and which has been published on the Issuer’s website. Any investment decision regarding the publicly offered securities of the Issuer should only be made on the basis of the securities prospectus. The securities prospectus is available free of charge from the Issuer (Artegastraße 1, 33129 Delbrück, Germany; Tel.: +49 (0)5250 9930-900; Fax: +49 (0)5250 9762-102) and on the Issuer’s website (

The information contained on the following web pages is not an offer of securities for sale or a solicitation of an offer to purchase securities in the United States of America (“United States”), Canada, Australia or Japan. The Issuer’s shares, and the securities offered in the course of the offer, have not been and will not be registered under the US Securities Act of 1933, as amended (“Securities Act”), or with any other securities regulatory authority of any state or other jurisdiction of the United States and may not be offered, sold or delivered within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Issuer does not intend to register the offer or parts thereof in the United States or make an offer to the public in the United States, Canada, Australia or Japan.

The information contained on the following web pages is not for distribution to persons who are located in the United States, Canada, Australia or Japan or any other jurisdiction where the offer of the securities to the public is not taking place. Any violation of these restrictions may constitute a breach of the securities laws of these countries. The copying, forwarding or other transmission of the content of the following web pages is prohibited.

By clicking the "I AGREE" button below, you warrant that (i) you have read and accepted the foregoing information and restrictions in full and (ii) you are a resident of or domiciled in Germany or Luxembourg, and (iii) you agree not to distribute or forward the information contained on the following web pages to any person who is not a resident of or domiciled in Germany or Luxembourg.


We regret that, due to regulatory restrictions, we are unable to provide you with access to the following web pages.