Frankfurt (pta023/07.07.2022/16:40) -
Frankfurt/M., 7 July 2022. The Board of Management of ERWE Immobilien AG (ISIN: DE000A1X3WX6) decided today, with the approval of the Supervisory Board and in consultation with the major shareholder Elbstein Aktiengesellschaft, to apply for the revocation of the admission of ERWE shares to trading on the regulated market (General Standard) of the Frankfurt Stock Exchange at the appropriate time.
Pursuant to Section 39 para. 2 sentence 2 no. 1 of the German Stock Exchange Act, the revocation of the admission of shares to trading on the regulated market at the request of the issuer is only permissible if at the time of the application an offer to acquire all securities of the applicant is published in accordance with the provisions of the German Securities Acquisition and Takeover Act (so-called delisting offer).
ERWE has therefore also today entered into a delisting agreement with Elbstein Aktiengesellschaft, which provides for Elbstein Aktiengesellschaft to combine its already announced mandatory offer with a delisting offer. An offer price has not yet been fixed. ERWE has undertaken in the Delisting Agreement to apply for the revocation of the admission of the shares of the Company to trading on the regulated Market of the Frankfurt Stock Exchange (General Standard) during the acceptance period of the Delisting Offer and, subject to the review of the published offer document and within the scope of and in compliance with its legal obligations, to support the Delisting Offer.
ERWE intends subsequently simultaneously with the effectiveness of the delisting, to have its shares included in trading in the Scale segment of the Basic Board (Entry Standard) of the Frankfurt Stock Exchange, which is operated by Deutsche Börse AG.
ERWE Immobilien AG focuses on developing a highly profitable mixed-use commercial real estate portfolio in the office, retail, hotel and residential segments. Its preferred sites involve promising downtown locations in German cities and exclusively prime locations in smaller towns and municipalities. ERWE acquires properties whose potential value growth can be sustainably exploited by introducing new utilisation concepts. This way, the company aims to build a highly profitable and valuable portfolio with substantial revenue growth. ERWE Immobilien AG is listed in the regulated Market (General Standard) in Frankfurt and in open trading on the stock exchanges in Frankfurt am Main (XETRA), Berlin, Düsseldorf and Stuttgart (ISIN: DE000A1X3WX6).
Contacts for enquiries:
german communications AG
Milchstr. 6 B
T. +49-40-4688330, F. +49-40-46883340
ERWE Immobilien AG
T.+49-69-96 376 869-25, F. +49-69 96 376 869-30
|Emitter:||ERWE Immobilien AG|
|Contact Person:||Hans-Christian Haas|
|Phone:||+49 69 96376869 25|
|Stock Exchanges:||regulated market in Frankfurt; free market in Dusseldorf, free market in Stuttgart; open market in Berlin|