Corporate News

Godewind Immobilien AG resolves share buyback programm

• Repurchase of up to 1,762,500 shares resolved
• Share buyback period from of 16 January 2020 to 30 April 2020
• Acquisition via Frankfurt Stock Exchange (XETRA)

Frankfurt am Main, 14 January 2020. The Management Board of Godewind Immobilien AG, Frankfurt am Main (ISIN DE000A2G8XX3) (“Company or Godewind“), today resolved with the approval of the Supervisory Board to launch and implement a share buyback programme under which up to 1,762,500 shares of the Company (equivalent to approximately 1.62 percent of the share capital) are to be repurchased. The maximum volume of the share buyback programme (acquisition costs excluding ancillary acquisition costs) is EUR 8.46 million (based on the closing price of EUR 4.80 as per 14 January 2020). The shares are to be repurchased exclusively via the stock exchange in electronic trading on the Frankfurt Stock Exchange (XETRA trading).

With the share buyback programm the Company is making partial use of the authorization granted by the ordinary shareholders’ meeting on 6 August 2019, according to which up to a total of 10 percent of the Company’s share capital existing at the time the resolution was adopted may be acquired until 5 August 2024. In the case of an acquisition via the stock exchange, the purchase price per share (excluding ancillary acquisition costs) may not exceed or fall short of the price of a share of the Company in XETRA trading (or a comparable successor system) determined by the opening auction on the trading day by more than 10 percent. To date, no use has been made of this authorization. The Company already holds 1.5 million treasury shares.

The repurchased shares may be used for any purpose permitted under the authorization granted by the shareholders’ meeting on 6 August 2019, including (a) the sale of the shares under exclusion of shareholders’ subscription rights against cash payment, provided that the price at which the shares are sold is not significantly lower than the stock exchange price of the Company’s shares in XETRA trading (or a comparable successor system), and (b) against non-cash contributions; the shares may also be redeemed.

The buyback will take place within a period of 16 January 2020 (first possible acquisition day) until 30 April 2020 (last possible acquisition day) at the latest.

Extension of the sound and profitable portfolio with a strong dedication to shareholder value
Godewind will continue to optimize the existing office portfolio with a value of more than EUR 1 billion as per 30 September 2019 and expand the office-portfolio. With a lettable vacancy rate of currently around 9.5 percent the portfolio still has extensive organic growth potential.

About Godewind
Godewind Immobilien AG, headquartered in Frankfurt am Main, is a company specialising in German office properties. The company’s focus is on creating and expanding an attractive real estate portfolio in Germany’s growth centres. As an active portfolio and asset manager, Godewind strives for sustainable increases in earnings and income, which are supplemented by regularly increasing upside potential. Godewind currently has an office property portfolio totalling more than EUR 1 billion. In the medium term, the aim is to create a commercial real estate portfolio of at least EUR 3 billion with the help of a wide-ranging network and by means of value-added acquisitions.

Based on internal portfolio and asset management, Godewind Immobilien AG will manage commercial properties cost effectively, conclude long-term tenancy agreements and thus increase the value of the company. The company has loss carryforwards for corporation and trade tax and a tax deposit account. The Godewind Immobilien AG share is listed at the highest transparency level of Deutsche Börse AG, Prime Standard, and is traded amongst others in the XETRA market segment of the Frankfurt Stock Exchange (FWB).

For further information please visit https://www.covivio-office-ag.com.

Investor Relations contact
Gunnar Janssen
Godewind Immobilien AG
Phone +49 69 27 13 97 32 13
E-mail g.janssen@godewind-ag.com

Press contact
Jan Hutterer
Kirchhoff Consult AG
Tel.: +49 (0)40 6091 8665
Email: godewind-ag@kirchhoff.de