IMMOFINANZ-Shareholders approve reduction in the control threshold and elect two new members to the Supervisory Board

In the Extraordinary General Meeting on 17 April 2015, the shareholders of IMMOFINANZ AG approved a reduction in the control threshold for a mandatory takeover offer (as defined in §22 (2) of the Austrian Takeover Act) to 15%. Additionally, Horst Populorum (41) and Wolfgang Schischek (71) were elected to the Supervisory Board. Their terms of office extend to the end of the annual general meeting that will vote on the release from liability for the 2018/2019 financial year.

The Supervisory Board now includes six shareholder representatives (Michael Knap, Chairman, Rudolf Fries, Vice-Chairman, Christian Böhm, Horst Populorum, Wolfgang Schischek and Nick J.M. van Ommen). The maximum number of Supervisory Board members to be elected by the annual general meeting was reduced to six.

IMMOFINANZ CEO Eduard Zehetner thanked the shareholders, also in response to the Friday morning announcement of the results of the partial takeover offer by CA Immobilien/O1 for IMMOFINANZ shares: “As a result of the great foresight shown by IMMOFINANZ shareholders, the bidders failed to meet their goal.“

The proposals for two other changes to the articles of association – an increase in the majority required to dismiss a Supervisory Board member and a change in the allowable term of office for the election of substitute Supervisory Board members – did not receive the necessary majority.