conwert Immobilien Invest SE ("conwert"), a company listed on the ATX (Austrian Traded Index), announces that Vonovia SE ("Vonovia") as main shareholder of conwert, and the administrative board of conwert today have jointly set the adequate cash compensation to be paid to conwert's minority shareholders in the course of the initiated squeeze-out proceedings to EUR 17.08 per share.
Furthermore, Vonovia and conwert's administrative board have resolved on the joint report pursuant to sec 3 para 1 of the Austrian Squeeze-Out Act ("GesAusG").
The cash compensation paid in the course of the squeeze-out proceedings was set on the basis of an expert valuation report by Ebner Stolz GmbH & Co. KG Wirtschaftsprüfungsgesellschaft Steuerberatungsgesellschaft. The accuracy of the joint report as well as the adequacy of the cash compensation are subject to an examination and confirmation by PwC Wirtschaftsprüfung GmbH as court-appointed expert.
The extraordinary shareholders' meeting of conwert, which will resolve on the transfer of shares of the minority shareholders to the main shareholder against payment of an adequate cash compensation, is expected to be held on 29 August 2017.
This report contains forward-looking estimates and statements that were made on the basis of the information available at this time. Forward-looking statements reflect the point of view at the time they are made. We would like to point out that the actual circumstances and, consequently, the actual results realised at a later date may differ from the forecasts presented in this report for a variety of reasons.