DGAP-News: Godewind Immobilien AG / Key word(s): Share Buyback
13.12.2018 / 07:38
Godewind Immobilien AG resolves share buyback programm
Frankfurt, 13 December 2018. 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 1,500,000 shares of the Company (equivalent to approximately 1.38% of the share capital) are to be repurchased. The maximum volume of the share buyback programme (acquisition costs excluding ancillary acquisition costs) is EUR 5.25 million. 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 programme the Company is making full use of the authorization granted by the ordinary shareholders’ meeting on 20 February, 2018, according to which up to a total of 10% of the Company’s share capital existing at the time the resolution was adopted may be acquired until 19 February, 2023. 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%. To date, no use has been made of this authorization and the Company currently holds no treasury shares.
The repurchased shares may be used for any purpose permitted under the authorization granted by the shareholders’ meeting on 20 February, 2018, 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 13 December, 2018 (first possible acquisition day) until 29 March, 2019 (last possible acquisition day) at the latest.
Building up a sound and profitable portfolio with a strong dedication to shareholder value
Outlook: further acquisitions in the pipeline
Stavros Efremidis, CEO of Godewind, said:
Based on its internal portfolio and asset management, Godewind will manage commercial properties cost-effectively, enter into long-term tenancy agreements and thus increase its enterprise value. The company has tax loss carry-forwards for corporation and trade tax, as well as a tax-free capital reserve. The shares in Godewind are traded in the Prime Standard segment on the Frankfurt Stock Exchange (FWB).
For more information, please visit https://www.covivio-office-ag.com
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|Company:||Godewind Immobilien AG|
|60329 Frankfurt am Main|
|Phone:||+49 (0) 69 2713973213|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|