7 Changes of Control and Defence Measures
7.1 Duty to Make an Offer
There are no opting-up or opting-out clauses in the Articles of Incorporation of Kuoni Travel Holding Ltd. In view of this, any person owning more than one-third of the voting rights of Kuoni Travel Holding Ltd. must make an offer for all the company’s remaining stock-exchange-listed securities.
7.2 Change-of-Control Clauses
There are no change-of-control clauses in any agreements or plans to the benefit of members of the Board of Directors and / or the Group Executive Board and / or any further members of the management of Kuoni Travel Holding Ltd.