A Gleiss Lutz team has advised Northern Data AG (“Northern Data") and its management board on the first virtual shareholders' meeting to be held following the corresponding amendments to the German Stock Corporation Act. Northern Data is a leading provider of infrastructure for high performance computing (HPC).
Held on 19 October 2022, Northern Data's 2022 shareholders' meeting was the first under the new statutory rules on virtual shareholders' meetings, with the shareholders´ unrestricted right to speak and raise questions. The new regulation permanently facilitating virtual shareholders' meetings came into force on 27 July 2022. Originally, the option of holding shareholders' meetings in a virtual format was introduced in response to the Covid-19 pandemic. In the course of the digitalisation of German stock corporation law, the legislator has now made virtual shareholders' meeting a permanent institution.
The listed company Northern Data AG develops and operates global infrastructure solutions in the field of HPC and provides the infrastructure for various HPC applications in areas such as bitcoin mining, blockchain, artificial intelligence, big data analytics, IoT and rendering. Northern Data offers its HPC solutions both in large, stationary data centres and in mobile high-tech data centres that can be set up at any location worldwide.
Northern Data was advised by the following team of Gleiss Lutz lawyers: Dr. Stephan Aubel (partner, Frankfurt), Dr. Thorsten Gayk (counsel, Hamburg), Dr. Dirk Wasmann (partner, Stuttgart, all Corporate and Capital Markets).
Chief Legal Officer Michaela Huber, Senior Legal Counsel Dr. Martin Rinscheid and General Counsel North America Jim Black advised in-house.
Forward
