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IMMOFINANZ AG requests convocation of an extraordinary shareholders' meeting of S IMMO AG

DGAP-News: IMMOFINANZ AG / Key word(s): Real Estate/AGM/EGM IMMOFINANZ AG requests convocation of an extraordinary shareholders' meeting of S IMMO AG 07.04.2021 / 11:45 The issuer is solely responsible for the content of this announcement. IMMOFINANZ AG requests convocation of an extraordinary shareholders' meeting of S IMMO AG

• Cancellation of the maximum voting right is a condition precedent of the announced public takeover offer of IMMOFINANZ to the shareholders of S IMMO and shall now be resolved upon in an extraordinary shareholders' meeting of S IMMO
• The aim is to quickly create a basis for decision-making for the shareholders of S IMMO during the acceptance period of the offer
• Cancellation of the maximum voting right is in line with the Corporate Governance principle of "one share-one vote" and is also beneficial for all shareholders of S IMMO irrespective of the announced public takeover offer by IMMOFINANZ

IMMOFINANZ has requested S IMMO to convene an extraordinary shareholders' meeting. At this shareholders' meeting, the shareholders shall resolve upon an amendment to the Articles of Association to cancel the maximum voting right because S IMMO postponed the ordinary shareholders' meeting originally scheduled for 30 April 2021. The amendment to the Articles of Association is a condition precedent of the announced public takeover offer to acquire a controlling interest (Section 25a of the Austrian Takeover Act) of IMMOFINANZ to the shareholders of S IMMO.

In the interest of the shareholders of S IMMO as addressees of the offer, a resolution should now be passed in an extraordinary shareholders' meeting in order to create transparency regarding the fulfilment of this condition precedent of the offer as soon as possible. This is an important basis for the shareholders of S IMMO to decide whether to accept the offer within the acceptance period.

The cancellation of the maximum voting right is beneficial for the shareholders of S IMMO irrespective of the announced public takeover offer by IMMOFINANZ, as investors generally classify voting right restrictions as economically disadvantageous. Furthermore, a cancellation of the maximum voting right is in line with the Corporate Governance principle of "one share-one vote" and thus international principles on the capital market.