Herausgabeansprüche

Herausgabeansprüche, also known as redemption rights, are a legal mechanism that allows shareholders to demand that a company's management buy back their shares at a predetermined price. This provision is typically included in the company's articles of association or shareholder agreement. The primary purpose of Herausgabeansprüche is to protect shareholders from unfair management actions, such as diluting their ownership or engaging in activities that reduce the company's value.

The redemption price is usually set at the time of the share issuance and can be based on the market price at that time or a predetermined value. Shareholders can exercise their redemption rights by notifying the company of their intention to redeem their shares. Once notified, the company is obligated to buy back the shares at the specified price, regardless of the current market value.

Herausgabeansprüche are particularly relevant in the context of private companies, where the market for shares may be limited or non-existent. They provide a safeguard against management actions that could otherwise be detrimental to shareholders. However, the effectiveness of Herausgabeansprüche can vary depending on the specific terms outlined in the company's articles of association and the legal framework governing shareholder rights in the jurisdiction where the company is incorporated.