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S Immo AG — M&A Activity 2024
May 24, 2024
758_iss_2024-05-24_f01c89e9-acb7-43c6-a12f-4e788eb95bed.pdf
M&A Activity
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News-Service of the pressetext news agency Josefstädter Straße 44, 1080 Vienna, Austria, phone: +43 1 81140-0
Publication: 24.05.2024 16:55 Source: https://www.pressetext.com/news/20240524026 Keywords: Squeeze Out / Gesellschafterausschluss
Public disclosure of inside information according to article 17 MAR
S IMMO AG: IMMOFINANZ starts preparations for a squeezeout of S IMMO AG
Vienna (pta026/24.05.2024/16:55 UTC+2)
Today, S IMMO was informed, that IMMOFINANZ, which together with its parent company CPI Property Group S.A. holds a stake of approximately 88.37% in the share capital of S IMMO (taking into account the treasury shares of S IMMO of approximately 92.54%) decided – with the approval of its Supervisory Board – to commence preparations for a squeeze-out of S IMMO AG in accordance with the Austrian Squeeze out Act (Gesellschafter-Ausschlussgesetz).
In the course of the squeeze-out, shares in S IMMO (AT0000652250) held by minority shareholders shall be transferred to IMMOFINANZ as main shareholder in exchange for appropriate cash compensation. The squeeze-out currently relates to 5,246,664 S IMMO shares, which corresponds to approximately 7.13% of the share capital. These are shares that are not held by IMMOFINANZ, CPIPG or S IMMO as treasury shares.
Following the completion of preparatory steps and subject to further legal, tax and financial review, IMMOFINANZ as main shareholder would submit a request to S IMMO to initiate the procedure under the Austrian Squeeze-out Act. The cash compensation for the acquisition of the S IMMO shares will be determined based on a valuation report to be obtained. The squeeze-out will then be submitted for approval at a shareholders' meeting of S IMMO, which IMMOFINANZ AG expects to take place in autumn 2024.
S IMMO will of course comply with all legal obligations that apply to it as the target company.
| Emitter: | S IMMO AG Wienerbergstraße 9 / 7. Stock 1100 Wien Austria |
|---|---|
| Contact Person: | Elisabeth Wagerer |
| Phone: | +43 1 22795-1120 |
| E-Mail: | [email protected] |
| Website: | www.simmoag.at |
| ISIN(s): | AT0000652250 (Share) |
| Stock Exchange(s): | Vienna Stock Exchange (Official Trade) |
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