Only a few weeks ago, Biolyz GmbH was converted into a FlexCo (read about it here) and now another premiere for our Vienna office followed.

The company used of one of FlexCo’s new features, namely the issue of company value shares (UWA), as part of a capital increase. UWA aim at facilitating the participation of employees and investors. They are non-voting and have reduced participation rights while providing full equity upside.

The issuance is easy: The articles of association need to authorize the issuance in general. As part of the capital increase resolution, the issuance of UWA (instead of regular shares) is approved. In addition, it is a real simplification and reduction in bureaucracy that the subscription declaration for UWA is made purely in writing, i.e. neither a notarial deed nor the Section 12 private deed is required.

Biolyz was again advised by Keyvan Rastegar and Katharina Rastegar.