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Our Basic Principles

Long-term economic success is always based on clear corporate management and strong values. We regard our corporate governance principles to be mandatory for all of our business activities.

For PATRIZIA Immobilien AG, a responsible corporate policy based on sustainable value creation forms the basis of our business dealings and has established itself as the norm in our dealings with each other. PATRIZIA acknowledges the need for management and supervision of the company geared to long-term commercial success, and this is the benchmark to be measured by.

For PATRIZIA, responsible and transparent corporate governance is one of the core elements of long-term success. The corporate governance principles of PATRIZIA Immobilien AG are essentially incorporated in the Company’s Articles of Association as well as in the by-laws of the Managing Board and Supervisory Board. The rules of conduct that apply throughout the Group address further aspects.

In addition to changing legal regulations, it is the lasting principles that express the values of Patrizia and that we understand as an obligation to joint action. In the view of PATRIZIA, the first and foremost duty of the Company and its representatives is to develop and enhance the confidence of shareholders, investors, business partners, customers and our own employees in a sustained and value-based system of corporate governance. We attach great importance to presenting the performance of our business and the associated opportunities and risks in a fair and transparent manner.

A revised version of the German Corporate Governance Code became effective on 12 July 2015. The Managing Board and Supervisory Board issued the declaration of conformity pursuant to Article 161 Aktiengesetz (AktG ‒ German Stock Corporation Act) in December 2016. The recommendations and suggestions of the German Corporate Governance Code are applied with only a few exceptions. Current and all preceding declarations of conformity are available on the PATRIZIA website.

Information on the Managing Board and Supervisory Board and their procedures is contained in the Declaration on Corporate Management​​​​​​​ pursuant to § 289a of the Handelsgesetzbuch (HGB – German Commercial Code).

Compensation report


The compensation paid to the Managing Board and Supervisory Board of PATRIZIA Immobilien AG in the fiscal year 2016 is disclosed in the Management Report for the Group and in the Notes to the Consolidated Financial Statements within the 2016 Annual Report. To illustrate the Managing Board compensation the template recommended by the Corporate Governance Code is used. The principles of the compensation system are explained in the Management Report of the Company and the Group.


Share dealings of executive body members


Executive body members of PATRIZIA Immobilien AG as well as related parties are obliged to disclose the purchase and disposal of equities of PATRIZIA Immobilien AG (so-called directors’ dealings) if the total amount of transactions in a calendar year equals or exceeds EUR 5,000. In the fiscal year 2016 there were no share transactions pursuant to Article 15a of the Wertpapierhandelsgesetz (WpHG – German Securities Trading Act).
As the direct and indirect shareholding by the Managing Board members of PATRIZIA Immobilien AG exceeds 1%, we disclose the total ownership as of 31 December 2016 individualised as follows.
 

 

Number of shares 

Percentage of share capital

Wolfgang Egger, indirectly and directly via First Capital Partner GmbH

43,333,938 

51.62%

Karim Bohn 

-

0%

Klaus Schmitt 

128,840 

0.15%

Total 

43,462,778 

51.77%

 

Transactions with related companies and individuals


The members of the Managing Board and Supervisory Board or related parties also effected transactions with PATRIZIA Immobilien AG and its subsidiaries in the fiscal year 2016. A list of transactions complying with standards customary in the sector can be found in each year’s Notes to the Consolidated Financial Statements. No members of the Managing Board or Supervisory Board were involved in any conflict of interest.

Notes to the Consolidated Financial Statements

Further information:
German Corporate Governance Code (in German only)

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