Shareholders strongly support PATRIZIA´s expansion plans
At today´s Annual General Meeting of PATRIZIA Immobilien AG in Augsburg, the shareholders have approved management’s expansion plans with a large majority. In addition, the issuance of a stock dividend was approved and a new Supervisory Board elected.
As proposed by management, PATRIZIA’s shareholders approved once more to issue a stock dividend at a 10:1 ratio, which means that every shareholder will receive one additional, new share for every 10 existing shares. Shares will be assigned to all shareholders holding the stock in their portfolio on the record date. The record date will be determined after the capital increase has been entered into the commercial register. Upon this entry, the technical processing is expected to take another ten to twelve working days until record date. The stock dividend will be delivered by the shareholder’s respective custodian bank within two working days after the record date. Since all the shares of PATRIZIA Immobilien AG are held in collective custody accounts, shareholders do not need to take any actions to receive the stock dividend. In recent years, shareholders received the new shares approximately 30 working days after the annual general meeting. PATRIZIA will inform about the process accordingly and report the record date as it is set.
Further on, a new Supervisory Board was elected for the period until the Annual General Meeting 2019. Dr. Theodor Seitz and Alfred Hoschek were re-elected, while Uwe Reuter, CEO of VHV Holding AG, was elected for the first time and completes the Supervisory Board. Gerhard Steck, who was not running for a further term, will accompany PATRIZIA as Deputy Supervisory Board Member in the future.
The voting results have been published on the website of PATRIZIA Immobilien AG: https://www.patrizia.ag/en/shareholders/annual-general-meeting/2017/