Termination of the share buy-back programme
Augsburg, 23 June 2020. PATRIZIA AG announced a share buy-back programme in an ad hoc announcement dated March 18, 2020 and an additional announcement dated March 18, 2020, which has been running since March 19, 2020.
Since capital markets have stabilised significantly in recent weeks and the Covid-19 pandemic has only had a very limited impact on PATRIZIA's stable business model, the PATRIZIA AG Management Board has decided, with the approval of the company's Supervisory Board, to terminate the current share buy-back programme on June 22, 2020.
As part of the share buy-back programme PATRIZIA AG has bought back a total of 1,376,700 shares at an average price of EUR 20.28 per share and in a total volume of EUR 27.9 million.
After the end of the share buy-back programme PATRIZIA holds a total of 2,668,545 or 2.89% of its own shares. The number of outstanding shares is correspondingly 89,682,931, the number of shares issued continues to be 92,351,476.
PATRIZIA AG has been active as an investment manager in the real estate market across Europe for 36 years. PATRIZIA’s activities include the acquisition, management, repositioning and disposal of residential and commercial real estate through its best-in-class local network in all key markets. As a global partner for pan-European real estate investment, PATRIZIA operates as a trusted and independent business partner of large institutional, (semi-)professional and private investors in all major European countries. PATRIZIA manages more than EUR 45 billion of real estate and infrastructure assets, primarily as an investment manager for insurance companies, pension fund institutions, sovereign funds, savings and cooperative banks. PATRIZIA is committed to responsible investments and positive social impact. The PATRIZIA Children Foundation has helped over 220,000 children in need worldwide for over 20 years, giving them access to education and greater opportunities to lead better lives. For further information, please visit: www.patrizia.ag.