PTA-News: S IMMO AG: Management Board and Supervisory Board recommend to accept the takeover offer of CPI Property Group S.A.

Monday, 01. August 2022 16:00

Business news for the stock market

Vienna (pta033/01.08.2022/16:00) - The Management Board of S IMMO AG ("Company") has issued its detailed reasoned statement on the mandatory takeover offer of CPI Property Group S.A. ("CPI"; "Offer") and recommended in it to the shareholders of the Company to accept the Offer. The Supervisory Board concurred with the Management Board's reasoned statement. After careful analysis and consideration, the Management Board and the Supervisory Board consider the consideration offered by CPI in the amount of EUR 23.50 per share cum-dividend for the financial year 2021 (i.e. currently amounting to EUR 22.85 as a result of the dividend of EUR 0.65 per share for the financial year 2021 paid on 13 June 2022) to be fair and appropriate.

The statements of the Management Board and the Supervisory Board of the Company pursuant to section 14 (1) ÜbG (Austrian Takeover Act) regarding the Offer as well as the statement of the Works Council and the assessment of the expert are published on the Company's website at https://www.simmoag.at/en/investor-relations/takeover-offers/offer-of-cpi-property-group-sa-to-the-shareholders-of-s-immo-ag-2022.html.

Shareholders of S IMMO AG may accept the Offer until 12 August 2022, 5:00 p.m. Vienna local time (original offer period) and thereafter within the additional acceptance period pursuant to section 19 para 3 ÜbG within three months from the announcement of the result achieved within the original offer period. Shareholders who intend to accept the Offer should contact their custodian bank in advance in order to find out about any deadlines set by the bank.

The recommendations are made at a time of an uncertain macroeconomic environment. Each shareholder of S IMMO must decide for him- or herself, taking into account all relevant circumstances, his or her individual situation including the tax consequences and his or her personal assessment of the future development of the overall economic situation, the Target Company, the value and the stock price of the S IMMO share, whether and to what extent he or she accepts the Offer.

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emitter: S IMMO AG
address: Friedrichstraße 10, 1010 Wien
country: Austria
contact person: Elisabeth Wagerer
phone: +43 1 22795-1120
e-mail: elisabeth.wagerer@simmoag.at
website: www.simmoag.at

ISIN(s): AT0000652250 (share)
stock exchanges: official trade in Vienna

[ source: https://www.pressetext.com/news/20220801033 ]

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