Ashurst advises on first Virtual General Meeting

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    Ashurst advised Northern Data AG on the first Virtual General Meeting following the corresponding amendments to the German Stock Corporations Act.

    The Ordinary Annual General Meeting 2022 of Northern Data AG was held today, 19 October 2022, as a virtual meeting for the first time as stipulated by the new provisions for Virtual General Meetings, with the shareholders' unrestricted right to speak and raise questions. The new regulations permanently facilitating Virtual General Meetings came into force on 27 July 2022. The possibility of holding annual general meetings in virtual form was introduced originally in response to the COVID 19 pandemic. In the course of the digitalisation of German stock corporation law, the legislator has now made Virtual General Meetings 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. 

    The Supervisory Board of Northern Data was advised by an Ashurst team led by partner Prof Dr Florian Drinhausen and counsel Astrid Keinath (both Corporate Transactions). In-house advice was provided by Chief Legal Officer Michaela Huber, Legal Counsel Dr Martin Rinscheid and General Counsel North America Jim Black.