ADO Properties S.A.: ADO Properties and ADLER Real Estate take further steps towards integration
DGAP-News: ADO Properties S.A.
/ Key word(s): Merger/Personnel
ADO Properties and ADLER Real Estate take further steps towards integration
- Maximilian Rienecker has been appointed as new member of ADO's board of directors
As at the close of its voluntary public takeover offer for ADLER, ADO held 91.93% (94.15% incl. treasury shares) of ADLER's share capital. Upon potential conclusion of the Domination Agreement, a compensation offer for the remaining minority shareholders of ADLER will be made. Minority shareholders will have the option to either swap their ADLER shares for ADO shares or retain their shares in ADLER and receive an annual compensation payment. The companies will determine the final settlement scheme and the annual compensation payment under the Domination Agreement in accordance with legal requirements and based upon a company valuation.
Furthermore, Maximilian Rienecker has today been appointed, by way of co-optation, as new member of ADO's board of directors with a term until the next annual general meeting which is expected to take place in Q3 2020. Mr. Rienecker is the Co-CEO of ADO and will join the board of directors as an Executive Director. At the same time, Florian Sitta has resigned from his position on the ADO board of directors and handed over his responsibilities and duties with immediate effect. The remaining members of the board of directors thank Mr. Sitta for his commitment and support of ADO.
|Company:||ADO Properties S.A.|
|Phone:||+352 278 456 710|
|Fax:||+352 203 015 00|
|Indices:||SDAX, FTSE EPRA/NAREIT Global Index, FTSE EPRA/NAREIT Developed Europe Index, FTSE EPRA/NAREIT Germany Index|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; London, Luxembourg Stock Exchange, SIX|
|EQS News ID:||1031855|
|End of News||DGAP News Service|