7  Changes of control and defence measures

7.1  Duty to make an offer

Allreal’s articles of association do not contain any provisions for an opting-out or opting-up clause. Accordingly, the provision to make an offer in accordance with the Financial Market Infrastructure Act shall apply under which a shareholder is required to make a public takeover offer if his holding has reached the threshold of 3313 percent.

7.2  Change-of-control clauses

In the event of a change in the majority control of the company, there are no contractual agreements in place benefiting the members of the Board of Directors or Group Management.