$ENGI (-2,73 %) offers to convert the shares into preference shares. The advantage is a higher dividend, the disadvantage is no voting rights. Well, the disadvantage is perhaps relevant for really large shares, as a small investor I don't even tip the scales when it comes to voting.

What I don't really understand from the letter from Trade Republic is that the preference shares only actually receive a higher dividend after 2 years (i.e. in 2026) and that the preference shares cannot simply be sold again, but must first be converted back into ordinary shares. Or am I seeing this wrong?