MAR.12 '88 12:34 CLIFFORD CHANCE
P.011
Deutsche Bank
Aktiengesellschaft
Zentrale⚫ Central Office · Siège Central
ANNEX C
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MEMORANDUM RELATING TO THE MERGER OF DEUTSCHE BANK (ASIA) AG ("DB ASIA”) INTO DEUTSCHE BANK AG ("DEUTSCHE BANK)
1.
INTRODUCTION
Deutsche Bank (Asia) AG (formerly known as European Asian Bank) is а banking company incorporated and licenced to transact banking business under
under the laws of the Federal Republic of Germany with Head Office in Hamburg and 20 offices in 14 Asian countries including Hong Kong. DB Asia was established as a joint venture between DEUTSCHE BANK and six other major European banks in 1972 when it took over the operations of the former Deutsch- Asiatische Bank thus acquiring a business established for over 80 years with a branch network in a number of Asian countries.
In ko
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Langement or snarenoldings, DEUTSCHE BANK increased its equity participation in DB ASIA from 14.7% in 1972 to 60% in 1983 and to 75% in 1986. In May 1987. DANTSOUR acquired LUUS ownership of DB ASIA.
laviny obtained zull
Iull control, DEUTSCHE BANK in recognition of the growth potential of the Asian-Pacific area developed a plan to streamline its activities in Asia by merging the operations and the branch network of DB ASIA into DEUTSCHE BANK.
MERGER
J
THE LEGAL FRAMEWORK
Both DB ASIA and DEUTSCHE BANK being incorporated in the Federal Republic of Germany, the merger will be governed by German law. The legal framework of the margar contained in Coetien 000 352(c) of the German Stock Corporations Act ("Aktiengesetz").
2.1. MERGER AGREEMENT
The law provides for 2 MERGER AGREEMENT to be executed
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the transferee company in notarial form. The Merger Agreement must contain certain statutory information, including (i) a statement that the undertaking together with all assets and liabilities of the transferor company will be taken over by the transferee company in its entirety and (ii) the date from which any action taken by the transferor company will, internally as between the parties, be deemed to have been taken for account of the transferee company.
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