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 This request for a preliminary ruling concerns the interpretation of Article 1(2)(h) and Article 3(1) of Directive 2003/71/EC of the European Parliament and of the Council of 4 November 2003 on the prospectus to be published when securities are offered to the public or admitted to trading and amending Directive 2001/34/EC (OJ 2003 L 345, p. 64), as amended by Directive 2008/11/EC of the European Parliament and of the Council of 11 March 2008 (OJ 2008 L 76, p. 37) (‘the Prospectus Directive’).
 The request has been made in proceedings between Almer Beheer BV and Daedalus Holding BV (‘Almer and Daedalus’), on one hand, and Van den Dungen Vastgoed BV and Oosterhout II BVBA (‘Van den Dungen and Oosterhout’), on the other, concerning Almer and Daedalus’ action claiming that the enforced sale of securities held by them should be subject to the obligation to publish a prospectus.
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