DGAP-News

2015 Shareholder Meeting of DIC Asset AG

DGAP-News: DIC Asset AG / Key word(s): AGM/EGM
2015 Shareholder Meeting of DIC Asset AG

02.07.2015 / 13:45

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Press Release

Frankfurt, 02 July 2015

2015 Shareholder Meeting of DIC Asset AG:

- All agenda items approved by clear majority votes
- Dividend for 2014 set at EUR 0.35 per share (2013: EUR 0.35)
- Two new members appointed to the supervisory board
- Refinancing successfully completed
- More than half of all sales planned for 2015 already transacted
- Management board confirms forecast for 2015 (FFO: EUR 48 - 50 million)

The shareholder meeting of DIC Asset AG (WKN A1X3XX / ISIN DE000A1X3XX4),
which convened in Frankfurt today, ended after around 2.5 hours at 12:20
CEST. With around 64.1 percent of the share capital represented, the
meeting passed the motions submitted by the senior management with clear
majorities for every item on the agenda just as in previous years (for a
breakdown of the voting results, see the table inserted below). One of the
key items was the distribution of a dividend for the 2014 financial year
in the amount of EUR 0.35 per share, which matches the prior-year dividend
(2013: EUR 0.35). Based on the year-end share price for 2014, the dividend
yield equals around 4.7 percent (2013: 5.2 percent). Supervisory board
members Russell Platt and Bernd Wegener ended their term on the supervisory
board with this year's shareholder meeting. They were succeeded by Prof.
Dr. Ulrich Reuter, District Administrator for the District of
Aschaffenburg, and Dr. Anton Wiegers, CFO of Provinzial Rheinland Holding.

Ulrich Höller, CEO of DIC Asset AG: "We implemented the planned program in
a disciplined manner, and are now well on track to achieve our set
strategic goals."

By mid-year 2015, the sales total already exceeded 50 percent of the
year-end target at c. EUR 130 million (30/06/2014: EUR 54 million). On
average, the selling prices we negotiated exceeded the most recently
appraised market values by around 6 percent.

Out of the total amount of EUR 372 million due for refinancing for the
proprietary portfolio (commercial portfolio) in 2015, approximately EUR 315
million was already refinanced by the end of H1 2015. The average maturity
of the new financing arrangements is roughly 7 years. The average interest
rate for all bank loans was reduced from 3.9 percent to 3.5 percent as per