BUWOG AG
BUWOG AG: BUWOG AG: Extraordinary general meeting resolves on improved shareholder protection
DGAP-News: BUWOG AG / Key word(s): AGM/EGM 2015-06-08 / 20:02 --------------------------------------------------------------------- - Recommendations from executive and supervisory boards passed with large majority - Control threshold lowered from 30 to 20 percent - Stavros Efremidis elected to supervisory board - Maximum number of supervisory board members reduced from 10 to six At an extraordinary general meeting on June 8, 2015, a large majority of BUWOG AG shareholders passed recommendations from the executive and supervisory boards aimed at improving shareholder protection. The main points on the agenda were proposals on the following points: Lowering of control threshold: With 86.05 percent of votes, the extraordinary general meeting of BUWOG AG decided that, in future, investors will have to present a takeover bid to the other shareholders when they purchase 20 percent or more of BUWOG shares. Previously, this was only required for purchases of 30 percent or more of the shares. Reduction in the maximum number of supervisory board members: The proposal to reduce the maximum number of supervisory board members from 10 to six was also approved with 88.77 percent of the vote. Election of Stavros Efremidis to the supervisory board: The supervisory board had proposed appointing real estate expert Stavros Efremidis, chairman of the WCM Beteiligungs- und Grundbesitz AG in Frankfurt am Main, to BUWOG AG's supervisory board, in order to further expand the real estate business expertise on the board. The proposed appointment was approved with 98.71 percent of the vote. With his appointment, the supervisory board now consists of six elected members. "The executive and supervisory board members thank the shareholders of BUWOG AG for the trust that was evidenced in the widespread approval of the proposals brought before them at the extraordinary general meeting," said BUWOG CEO Daniel Riedl. "By lowering the control threshold, we have ensured that no investor can assume de facto control over BUWOG AG without presenting a takeover bid to our shareholders giving them the option to sell their shares at attractive terms. Given the current developments on the market for listed real estate companies, we see this as an important contribution to strengthening the rights of our shareholders. We are also very pleased that, in Stavros Efremidis, we are welcoming an experienced real estate expert who is well acquainted with the details of the German real estate market, to our supervisory board." About the BUWOG Group The BUWOG Group has grown over a 65-year history to become the leading German-Austrian full-service provider in the residential property sector. The company's high-quality property portfolio comprises roughly 52,000 units and was valued at around EUR 3.6 billion (to date January 31, 2015). Currently, the portfolio is equally distributed between Austria and Germany. The entire value chain in the residential sector is covered by BUWOG's activities in the areas of Asset Management (sustainable portfolio management and administration), Property Sales (profitable sale of individual apartments and portfolios) and Property Development (planning and construction of new buildings). Since the end of April 2014, the shares of BUWOG AG have traded on the stock exchanges of Frankfurt, Vienna and Warsaw. For more information please contact: Press enquiries in Austria: Investor Relations: Thomas Brey Holger Lueth LUSTIG+BREY PR, Marketing and Sales GmbH BUWOG AG T: +43 (0) 1 233 01 23 15 T: +43 1 878 28 1203 M: +43 (0) 676 542 39 09 E:investor@buwog.com E: brey@lustigbrey.at Press enquiries in Germany: Peter Dietze-Felberg RUECKERCONSULT T: +49 (0)30 2844 987 - 62 E: dietze@rueckerconsult.de --------------------------------------------------------------------- 2015-06-08 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: BUWOG AG Hietzinger Kai 131 1130 Wien Austria Phone: +43 1 87 8281130 Fax: +43 1 87 8285299 E-mail: investor@buwog.com Internet: www.buwog.com ISIN: AT00BUWOG001 WKN: A1XDYU Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Munich, Stuttgart, Tradegate Exchange; Wien (Amtlicher Handel / Official Market) End of News DGAP News-Service --------------------------------------------------------------------- 366429 2015-06-08
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