Corporate | 6 May 2008 09:53
VIB Vermögen AG / Miscellaneous
Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.
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- VIB Vermögen AG offers compensation of 1.45 of its own no-par value
shares for each BBI share
- Annual compensation payment of EUR 0.64 (gross) per share for
non-acceptance
- Agreement still to be approved by General Meetings
Neuburg/Donau, May 6, 2008 – VIB Vermögen AG, a company specializing in the
portfolio management of commercial properties, today signed a profit and
loss transfer agreement with the Managing Board of BBI Bürgerliches
Brauhaus Immobilien AG. In this agreement, the company offers BBI AG's
shareholders a reasonable compensation in shares taking statutory
requirements into account. The agreement provides for an exchange ratio of
8.02 BBI shares to 11.62 VIB shares. BBI Bürgerliches Brauhaus Immobilien
AG shareholders will thus receive for each BBI share 1.45 shares of VIB
Vermögen AG if they accept the offer. Possible fractions as a result of the
fractional exchange ratio will be compensated by cash payments from VIB
Vermögen AG.
After the contract has come into effect, the BBI AG will be obliged to
transfer its profits and losses completely to VIB Vermögen AG. In return,
the profit and loss transfer agreement includes an annual fixed gross
compensation of EUR 0.64 per non-par value share from VIB Vermögen AG for
BBI AG shareholders who do not want to accept the compensation offer.
The agreement still has to be approved by both companies' General Meetings.
VIB Vermögen AG's General Meeting is to be called for June 25, 2008.
Profile of the VIB Vermögen AG (including BBI):
The VIB Vermögen AG is a medium-sized real estate holding company that
focuses its investments on commercial real estate in South Germany. Founded
in 1993 as a business partnership, the VIB was converted into a public
company in the year 2000. Since then the company has developed its core
competency in the fields of acquisition and asset management of its own
real estate and of investment in companies with real estate assets. The VIB
Vermögen AG operates a ‘buy and hold’ strategy. This entails developing
real estate for its own portfolio and also acquiring existing properties.
The real estate portfolio of the VIB Group comprises various logistics
properties and industrial facilities, shopping and specialist retail
centres and also commercial and service centres. The company achieves
sustainable rental yields from a total lettable area of approximately
500,000 m².
Contact
Investor relations:
VIB Vermögen AG
Petra Riechert
Luitpoldstr. C70
86633 Neuburg
Phone: +49 (0)8431 504 952
Fax: +49 (0)8431 504 973
E-mail: petra.riechert@vib-ag.de
06.05.2008 Financial News transmitted by DGAP
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Language: English
Issuer: VIB Vermögen AG
Luitpoldstraße C 70
86633 Neuburg/Donau
Deutschland
Phone: +49 (0)8431 / 504-952
Fax: +49 (0)8431 / 504-973
E-mail: cornelia.eissmann@vib-ag.de
Internet: www.vib-ag.de
ISIN: DE0002457512
WKN: 245751
End of News DGAP News-Service
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