The executive board and the supervisory board of IMMOFINANZ AG have resolved today to carry out a share repurchase program based on the authorisation by the 21st ordinary shareholders’ meeting of 30 September 2014 pursuant to section 65 para 1 no 8 Austrian Stock Corporation Act after the redemption of 11,224,687 treasury shares of the Company. Purchases of shares in the course of the share repurchase program 2014-15 will be carried out by IMBEA IMMOEAST Beteiligungsverwaltung GmbH, a 100% subsidiary of IMMOFINANZ AG.
The conditions of the share repurchase program 2014-2015 are as follows:
Date of the authorisation by the shareholders‘ meeting pursuant to section 65 para 1 no 8 Austrian Stock Corporation Act:
30 September 2014
Dates and publication of the authorisation: 01 October 2014 via the information distribution system pursuant to sections 81a para 1 no 9 in connection with section 82 para 8 Austrian Stock Exchange Act in connection with section 11 Austrian Publication and Reporting Regulation
Commencement and anticipated duration:
23 December 2014 until 30 April 2015
Class of Shares:
Bearer shares (ISIN AT0000809058)
Up to 10,167,053 shares
Maximum consideration per share (highest price), both:
(i) 15% above the average of the volume weighted daily closing prices of the previous ten trading days of the shares on the Vienna Stock Exchange; and
(ii) EUR 3.00.
Minimum consideration per share: EUR 1.04 (represented pro-rata amount of the share capital)
Form of repurchase:
Purchase via the stock exchange
Purpose of the repurchase:
Deployment of the treasury shares for purposes in accordance with the authorisation of the shareholders’ meeting of 30 September 2014
Consequences for the admission of IMMOFINANZ shares to stock exchanges:
Disclosure according to section 5 para 4 Austrian Publication Regulation 2002: (i) The details to be published pursuant to section 7 Austrian Publication Regulation 2002 regarding the transactions carried out in the course of this repurchase programme as well as (ii) amendments of the repurchase programme (as the case may be) to be published pursuant to section 6 Publication Regulation 2002, will be published on the web-site of IMMOFINANZ AG (www.immofinanz.com/en/investor-relations/aktienrueckkaufprogramm/).
This announcement does not constitute a public offer to acquire IMMOFINANZ shares and does neither obligate IMBEA IMMOEAST Beteiligungsverwaltung GmbH nor the Company to accept offers to purchase IMMOFINANZ shares.