Independent proxy advisory firm Proxinvest recommends URW shareholders vote “FOR” the Group’s €3.5 Bn capital increase

 

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Paris, Amsterdam, October 26, 2020

Press release

Independent proxy advisory firm Proxinvest recommends URW shareholders vote “FOR” the Group’s €3.5 Bn capital increase

URW today announces that Proxinvest, an independent proxy advisory firm, has recommended that URW shareholders vote “FOR” the €3.5 Bn capital increase submitted for approval at the Company’s Extraordinary General Meeting to be held on November 10, 2020, an essential element of the Group’s RESET plan.

Proxinvest’s support further validates the Group’s decision to move forward with a prudent and immediate solution to strengthen the Group's balance sheet in a volatile and uncertain environment, while preserving the Group's flexibility for the future. The implementation of the entire RESET Plan is the only responsible proposition to ensure the Group’s continued unrestricted access to credit markets in the coming years, and the proposed capital increase is essential to immediately right-size the Group’s capital structure.

URW’s Supervisory Board and Management Board reiterate their unanimous and strong recommendation that all shareholders vote “FOR” the RESET plan resolutions 1, 2 & 3 and “AGAINST” resolutions A, B & C at the Group’s Extraordinary General Meeting.

More information about URW’s RESET plan can be found here: reset.urw.com

For further information, please contact:

Investor Relations
Samuel Warwood 
Maarten Otte 
[phone] 
[e-mail]

About Unibail-Rodamco-Westfield

Unibail-Rodamco-Westfield is the premier global developer and operator of Flagship Destinations, with a portfolio valued at €60.4 Bn as at June 30, 2020, of which 86% in retail, 7% in offices, 5% in convention & exhibition venues and 2% in services. Currently, the Group owns and operates 89 shopping centres, including 55 Flagships in the most dynamic cities in Europe and the United States. Its centres welcome 1.2 billion visits per year. Present on two continents and in 12 countries, Unibail-Rodamco-Westfield provides a unique platform for retailers and brand events and offers an exceptional and constantly renewed experience for customers.