Indirect Holding

An indirect holding exists when a person or company does not hold a shareholding or voting rights position directly, but instead controls it through one or more intermediary entities or is deemed to hold it under applicable attribution rules.

In North Data, indirect holdings are indicated by the label “(i)” in the Current Shareholders and Active Participations tables. The label indicates that the position is not held directly.

The classification is based on the underlying sources and disclosures. For publicly listed companies, these may include voting rights notifications that distinguish between directly held and attributed voting rights.

Example:
A person does not directly hold shares in a company but controls another company that owns those shares. In this case, the person's position is shown as an indirect holding and is marked with “(i)” in North Data.