• ISIN: AT00BUWOG001
  • Land: Österreich

Nachricht vom 18.05.2015 | 08:56

BUWOG AG: BUWOG to convene Extraordinary General Meeting on 8 June 2015

DGAP-News: BUWOG AG / Key word(s): AGM/EGM

2015-05-18 / 08:56


- Executive Board proposes reduction in the control threshold from 30 to 20
per cent
- Goal is to provide better protection for the rights of existing
- Proposed reduction from ten to six in the maximum number of Supervisory
Board members

The Executive Board of BUWOG AG today announced that an Extraordinary
General Meeting of BUWOG AG will be convened on 8 June 2015 in Vienna. The
central points on the agenda are proposals by the Executive and Supervisory
Boards to reduce the control threshold and to reduce the maximum number of
members on the Supervisory Board.

Reduction of the control threshold: The proposal to the Extraordinary
General Meeting indicates that investors who purchase 20 per cent of BUWOG
shares in the future must make a formal takeover offer. It replaces the
former threshold of 30 per cent of BUWOG shares.

Reduction in the maximum number of Supervisory Board members: The second
proposal would reduce the maximum number of members on the Supervisory
Board from ten to six. The BUWOG Supervisory Board currently has five
elected members.

"These measures are intended to provide even better protection for the
rights of existing shareholders", explained CEO Daniel Riedl. "Our goal is
not to make potential takeovers more difficult. What we want to do is
ensure that investors cannot obtain de facto control over the company
without making a formal takeover offer to our shareholders that would allow
them to sell their shares at attractive conditions."

The urgency of these steps has been clearly demonstrated by recent
developments in other listed property companies, added Riedl: "BUWOG is the
only Austrian property company that is trading at a stable margin over the
NAV, but a comparison with our German peer group clearly shows a
substantial upward potential. The acquisition of a stake in BUWOG by a
strategic investor should benefit all shareholders."

The agenda also includes a proposal by the Supervisory Board to elect
Stavros Efremidis, a real estate expert and member of the Management Board
of WCM Beteiligungs- und Grundbesitz AG in Frankfurt am Main, to the
Supervisory Board.

On the BUWOG Group

The BUWOG Group has grown over a roughly 65-year history to become the
leading German-Austrian full-service provider in the residential property
sector. The company's property portfolio covers more than 52,000 units and
was valued at EUR 3.6 billion as of 31 January 2015. The BUWOG Group's
portfolio is currently distributed equally 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). BUWOG shares have been listed on the
stock exchanges in Frankfurt, Vienna and Warsaw since the end of April


For additional information contact:

Investor Relations:

Holger Lueth
T: +43 1 878 28 1203

Media Inquiries Austria:

Thomas Brey
LUSTIG+BREY PR, Marketing und Sales GmbH
T: +43 (0) 1 233 01 23 15
M: +43 (0) 676 542 39 09
E: brey@lustigbrey.at

Media Inquiries Germany:

Peter Dietze-Felberg 
T: +49 (0)30 2844 987 - 62 
E: dietze@rueckerconsult.de


2015-05-18 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.

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Language:    English                                                    
Company:     BUWOG AG                                                   
             Hietzinger Kai 131                                         
             1130 Wien                                                  
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      
End of News    DGAP News-Service  
358269 2015-05-18                                                      

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