Notification of Major Holdings1. Details of issuer| Name: | Aareal Bank AG |
| Street: | Paulinenstr. 15 |
| Postal code: | 65189 |
| City: | Wiesbaden
Germany |
| Legal Entity Identifier (LEI): | EZKODONU5TYHW4PP1R34 |
2. Reason for notification| | Acquisition/disposal of shares with voting rights |
| | Acquisition/disposal of instruments |
| | Change of breakdown of voting rights |
| X | Other reason:
Notification is triggered due to the non application of the Trading Book Exemption which is available under Sect. 36 Para. 1 WpHG and the non application of the Custody Exemption available under Sect. 36 Para. 3 No. 2 WpHG |
3. Details of person subject to the notification obligationLegal entity: Morgan Stanley
City of registered office, country: Wilmington, Delaware, United States of America (USA) |
4. Names of shareholder(s)holding directly 3% or more voting rights, if different from 3.
Morgan Stanley & Co. International plc
|
5. Date on which threshold was crossed or reached:6. Total positions| | % of voting rights attached to shares
(total of 7.a.) | % of voting rights through instruments
(total of 7.b.1 + 7.b.2) | Total of both in %
(7.a. + 7.b.) | Total number of voting rights pursuant to Sec. 41 WpHG |
| New | 7.53 % | 1.47 % | 9.00 % | 59857221 |
| Previous notification | n/a % | n/a % | n/a % | / |
7. Details on total positionsa. Voting rights attached to shares (Sec. 33, 34 WpHG)| ISIN | Absolute | In % |
| | Direct
(Sec. 33 WpHG) | Indirect
(Sec. 34 WpHG) | Direct
(Sec. 33 WpHG) | Indirect
(Sec. 34 WpHG) |
| DE0005408116 | 0 | 4506345 | 0.00 % | 7.53 % |
| Total | 4506345 | 7.53 % |
b.1. Instruments according to Sec. 38 (1) no. 1 WpHG| Type of instrument | Expiration or maturity date | Exercise or conversion period | Voting rights absolute | Voting rights in % |
| Call Option | 18.12.2020 | at any time | 250000 | 0.42 % |
| Right of recall over securities lending agreements | at any time | at any time | 630208 | 1.05 % |
| | | Total | 880208 | 1.47 % |
b.2. Instruments according to Sec. 38 (1) no. 2 WpHG| Type of instrument | Expiration or maturity date | Exercise or conversion period | Cash or physical settlement | Voting rights absolute | Voting rights in % |
| Retail Structured Product | From 14.08.2069 to 08.06.2070 | at any time | Cash | 290 | 0 % |
| | | | Total | 290 | 0.000484486241 % |
8. Information in relation to the person subject to the notification obligation| | Person subject to the notification obligation is not controlled nor does it control any other undertaking(s) that directly or indirectly hold(s) an interest in the (underlying) issuer (1.). |
| X | Full chain of controlled undertakings starting with the ultimate controlling natural person or legal entity: |
| Name | % of voting rights (if at least 3% or more) | % of voting rights through instruments (if at least 5% or more) | Total of both (if at least 5% or more) |
| Morgan Stanley | % | % | % |
| Morgan Stanley Capital Management, LLC | % | % | % |
| Morgan Stanley Domestic Holdings, Inc. | % | % | % |
| Morgan Stanley & Co. LLC | % | % | % |
| - | % | % | % |
| Morgan Stanley | % | % | % |
| Morgan Stanley International Holdings Inc. | % | % | % |
| Morgan Stanley International Limited | % | % | % |
| Morgan Stanley Investments (UK) | % | % | % |
| Morgan Stanley & Co. International plc | 6.85 % | % | 7.63 % |
| - | % | % | % |
| Morgan Stanley | % | % | % |
| Morgan Stanley International Holdings Inc. | % | % | % |
| Morgan Stanley International Limited | % | % | % |
| Morgan Stanley Europe Holding SE | % | % | % |
| Morgan Stanley Europe SE | % | % | % |
9. In case of proxy voting according to Sec. 34 para. 3 WpHG(only in case of attribution of voting rights in accordance with Sec. 34 para. 1 sent. 1 No. 6 WpHG)
Date of general meeting:
Holding total positions after general meeting (6.) after annual general meeting:
| Proportion of voting rights | Proportion of instruments | Total of both |
| % | % | % |
10. Other explanatory remarks:| Notification triggered predominately due to increase in right of use over client assets resulting in the combined holdings of Morgan Stanley & Co. International plc, Morgan Stanley & Co. LLC & Morgan Stanley Europe SE crossing above 5% in aggregate, as such the trading book exemption is no longer applied to the combined holdings of Morgan Stanley & Co. International plc & Morgan Stanley Europe SE |
Date
