15%, 20%, 25%, 30%, 50% and 75% of the total amount of voting rights issued. This notification requirement can also be based on the following cases: Acting in concert with other shareholders Voting rights are held by a third party and will be transferred temporarily to a different shareholder Shares are lodged as collateral Life interest Voting rights being held by a controlled undertaking Voting rights be deposited with a third person (whereas the third person is allowed to exercise the voting rights on its own discretion) Holding voting rights in behalf of the legal owner Exercising voting rights as proxy This notification has to include the amount of voting rights held after acquisition/disposal, the day on which the event took place, the chain of controlled undertakings or the name of the (directly invested) shareholder from which the notifying party gets attributed the voting rights. Furthermore a notification is required when a natural person or legal entity holds financial instruments, which result in the entitlement to acquire voting rights, whereas the acquisition is based on the holder's initiative. These regulations should not apply for shareholders, holding the shares as market makers, for clearing and settlement purposes and credit institutions, holding the shares in their trading book, and holding less than 10% of the total amount of voting rights issued. Information requirements for issuers Issuers are obliged to treat those shareholders equally, which are in the same position. Furthermore issuers have to make all available all kinds of information that are necessary for the shareholders to ensure the exercise of their rights. person to exercise their voting and/or financial rights, either in paper or electronic form. After the annual general meeting the issuer has to publish decisions made at the annual general meeting, if applicable, which are: payment of dividends and issue of new shares, including allotment-, subscription-, cancellation- and conversion rights of the new shares. General obligations As long as shareholders or issuers have to provide information to each other, e.g. disclose the holding of voting rights, this information has to be filed with the state authority at the same time as well. The same applies for issuers, who propose the annual meeting to change their articles of incorporation. Competent authorities and their power Each Member State of the European Union has to designate a state authority, which should be responsible for carrying out the obligations regarding shareholders and issuers.