Ad-hoc | 24 September 2012 16:58
IMMOFINANZ AG / Key word(s): Real Estate
24.09.2012 16:58
Dissemination of an Ad hoc announcement, transmitted by DGAP - a company of
EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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The executive board of IMMOFINANZ AG has resolved to carry out a repurchase
program of treasury shares based on the authorisation by the 18th ordinary
shareholders' meeting of 28 September 2011 pursuant to section 65 para 1
item 8 Austrian Stock Corporation Act.
'We previously announced the distribution of a EUR 0.20 dividend per share
for the for the 2012/13 financial year. A large number of investors have
welcomed this unusually attractive dividend return, but would also like to
see - as an alternative or additional step - a share buyback, as long as
the discount to the NAV is as high as it is right now. The IMMOFINANZ
Executive Board therefore decided today, in agreement with the Supervisory
Board, to invest five cents per share of this planned dividend in a share
buyback programme. IMMOFINANZ Group will therefore launch a share buyback
in the coming days which, for the time being, will be limited to the
current financial year - it is scheduled to end on 30 April 2013 - and
cover a maximum volume of EUR 50 mil-lion', explained Eduard Zehetner, CEO
of IMMOFINANZ Group.
The conditions of the share repurchase program 2012/13 are as follows:
Date of the authorisation by the shareholders' meeting pursuant to section
65 para 1 item 8 Austrian Stock Corporation Act: 28 September 2011
Dates and publication of the authorisation: 29 September 2011 via the
information distribution system pursuant to sections 81 a para 1 item 9 in
connection with 82 para 8 Austrian Stock Exchange Act in connection with
section 11 Austrian Publication and Reporting Regulation
Commencement and anticipated duration: 01 October 2012 to 30 April 2013
Class of Shares: Bearer shares (ISIN AT 0000809058)
Intended Volume: Up to 20,000,000 shares, correspond to approx 1.75% of the
current nominal share capital
Purchase price
Maximum consideration per share both: (i) 15% above the average of the
volume weighted daily closing prices of the pre-vious ten trading days of
the shares on the Vienna Stock Exchange; and (ii) EUR 3.00.
Minimum consideration per share: EUR 1.04 (represented pro-rata amount of
the share capital)
Form of repurchase: Purchase via the stock exchange
Purpose of the repurchase: Deployment of the treasury shares for purposes
in accordance with the author-isation of the shareholders' meeting of 28
September 2011.
Consequences for the admission of IMMOFINANZ shares to the Vienna Stock
Exchange: None
Disclosure according to section 5 para 4 Austrian Publication Regulation
2002: (i) The details to be published pursuant to section 7 Austrian
Publication Regulation 2002 re-garding the transactions carried out in the
course of this repurchase program as well as (ii) amendments of the
repurchase program (as the case may be) to be published pur-suant to
section 6 Publication Regulation 2002, will be published on the website of
IM-MOFINANZ AG
(www.immofinanz.com/en/investor-relations/aktienrueckkaufprogramm/).
Quotation: Vienna Stock Exchange
Segment: Prime Market
ISIN: AT 0000809058
Contact:
For additional information contact:
INVESTOR RELATIONS
Stefan Schönauer
Head of Corporate Finance & Investor Relations
IMMOFINANZ AG
M +43 (0)699 1685 7312
investor@immofinanz.com
Simone Korbelius
Investor Relations
IMMOFINANZ AG
T +43 (0)1 88090 2291
investor@immofinanz.com
MEDIA INQUIRIES
Sandra Bauer
Head of Corporate Communications | Press Spokesperson
IMMOFINANZ AG
T +43 (0)1 88090 2292
M +43 (0)699 1685 7292
communications@immofinanz.com
A-1100 Wien, Wienerbergstraße 11
www.immofinanz.com
24.09.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: IMMOFINANZ AG
Wienerbergstraße 11
1100 Wien
Austria
Phone: +43 (0) 1 88090 - 2291
Fax: +43 (0) 1 88090 - 8291
E-mail: investor@immofinanz.com
Internet: http://www.immofinanz.com
ISIN: AT0000809058
WKN: 911064
Listed: Freiverkehr in Berlin, München, Stuttgart; Open Market in
Frankfurt; Wien (Amtlicher Handel / Official Market)
End of Announcement DGAP News-Service
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