Corporate News
24.04.2014

BUWOG issues invitation to extraordinary general meeting – elections to the Supervisory Board

BUWOG AG will hold an extraordinary general meeting on 15 May 2014. The agenda includes elections to the Supervisory Board as well as voting on the authorisation for a share buyback programme. Following the expected stock exchange listing of BUWOG on 28 April 2014, the new shareholder structure will also be reflected in elections to the Supervisory Board. The previously issued invitation and agenda for the general meeting are also available for review on the company’s website under www.buwog.com. The extraordinary general meeting, which will be held in the Austria Center Vienna, Bruno-Kreisky-Platz 1, 1220 Vienna, begins at 11 am.

The proposal for elections to the Supervisory Board covers five members, including the real estate expert Volker Riebel. In addition, the re-appointment of Vitus Eckert (currently Supervisory Board chairman), Eduard Zehetner (currently Supervisory Board vice-chairman) and Klaus Hübner is also planned. Shareholders have announced the nomination of candidates for the fifth seat on the Supervisory Board, which will be announced on a timely basis prior to the general meeting.

All five shareholder representatives will be elected for the maximum term permitted by law (i.e. their term of office will end with the conclusion of the annual general meeting that decides on the release from liability for the 2018/19 financial year). Birgit Noggler will resign from the Supervisory Board of BUWOG when the spin-off of 51% of the shares in BUWOG AG from IMMOFINANZ AG is recorded in the company register. This registration is expected to occur on 26 April 2014.

Vitus Eckert and Klaus Hübner will also resign from the Supervisory Board of IMMOFINANZ AG when the spin-off is recorded. The IMMOFINANZ Supervisory Board will then include the following four shareholder representatives for the time-being: Michael Knap (chairman), Rudolf Fries (vice-chairman), Christian Böhm and Nick J.M. van Ommen.

Trading in BUWOG shares on the stock exchanges in Frankfurt and Vienna is still expected to start on 28 April, with Warsaw presumably following on 29 April 2014. All requirements for the registration of the spin-off of BUWOG from IMMOFINANZ have been met.

This pres release was dispatched via the BUWOG press office.