Please wait…


Stock Exchange Act (Börsengesetz)

A law in effect since 1896 which regulates the organization and activities of the German stock exchanges

The foundation for the Börsengesetz (BörsG) was laid in 1892 by a ""Börsen-Enquête-Kommission"" (Exchange Enquiry Commission) appointed by the Chancellor of the Reich. The task of the commission was to remedy the deplorable state of affairs which characterized the exchanges by developing guidelines for stock exchange activity. Important amendments followed in 1975, 1986, 1989, and in particular in 1994, with the enactment of the Gesetz über den Wertpapierhandel und zur Änderung börsenrechtlicher und wertpapierrechtlicher Vorschriften (the Second Financial Market Promotion Act). Each new amendment increasingly incorporated international law, adopting in particular the guidelines established initially by the European Community, and later by the European Union. One particular amendment - the Third Financial Market Promotion Act - was undertaken in 1998. It gives issuers easier access to the exchange, contains changes with respect to liability extending to statements made in an offering prospectus, and regulates the delisting procedure. The most recent amendment was made in 2002 when the Fourth Financial Market Promotion Act came into effect: This law especially underpins investor protection. The Börsengesetz comprises six main sections: I. General provisions on the exchange and exchange bodies II. Exchange price determination and the broker system III. Admission of securities to Official Market IV. Derivatives trading V. Admission of securities to other trading segments VI. Regulations pertaining to penalties and fines; regulations on concluding transactions.

Our Glossary explains the most important terms to exchange business and should leave no questions unanswered. If you still miss a term, please send us an email and we will add the term soon.

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.