DGAP-Adhoc IMMOFINANZ AG: Publication of the intention to launch a voluntary public takeover offer to the shareholders of S IMMO AG
DGAP-Ad-hoc: IMMOFINANZ AG / Key word(s): Real Estate/Letter of Intent
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IMMOFINANZ AG: Publication of the intention to launch a voluntary public takeover offer to the shareholders of S IMMO AG
IMMOFINANZ AG announces pursuant to Section 5 of the Austrian Takeover Act that the Management Board and the Supervisory Board of IMMOFINANZ AG have decided today to launch a voluntary public takeover offer to acquire a controlling interest pursuant to Section 25a of the Austrian Takeover Act for all outstanding no-par value bearer shares of S IMMO AG (ISIN AT0000652250) not owned by the Bidder.
The Offer Price per Share of S IMMO AG shall amount to EUR 18.04 on a cum-dividend basis. This means that the Offer Price per S IMMO Share will be reduced by the amount of any dividend per Share of S IMMO AG declared between this announcement and the settlement of an offer, if the settlement of an offer takes place after the relevant Dividend Record Date.
The price of EUR 18.04 corresponds to the closing price of the S IMMO-Share in the Official Market (Prime Market) of the Vienna Stock Exchange on Friday, 12 March 2021. In relation to the volume-weighted average share price of S IMMO AG of the last six months of EUR 15.86 per share, the premium amounts to approximately 13.75%.
IMMOFINANZ AG currently holds 19,499,437 shares, corresponding to approximately 26.49% of the outstanding share capital of S IMMO AG. The treasury shares of S IMMO AG are excluded from the offer. S IMMO AG holds 2,633,354 treasury shares (as of 07 March 2021). The holdings of treasury shares may increase to up to 2,916,381 no-par value shares in accordance with the terms of the current share repurchase program of S IMMO AG. Based on the current number of treasury shares, an offer therefore comprises the acquisition of up to 51,476,105 no-par value shares, corresponding to approximately 69.93% of the share capital of S IMMO AG.