BUWOG AG

  • WKN: A1XDYU
  • ISIN: AT00BUWOG001
  • Land: Österreich

Nachricht vom 08.06.2015 | 20:02

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                                                      

Events im Fokus

Termine 2022

1./2. Juni 2022: Fachkonferenz Immobilien & Software | IT

13./14. Juli 2022: Fachkonferenz Beteiligungsgesellschaften & Consumer/Leisure

12./13. Oktober 2022: Fachkonferenz Finanzdienstleistungen/Technologie

Aktueller Webcast

Novem Group S.A.

FY 2021/22 Preliminary Results

02. Juni 2022

Aktuelle Research-Studie

SunMirror AG

Original-Research: SunMirror AG (von Sphene Capital GmbH): Buy

27. Mai 2022