Sparkassen Immobilien AG – new repurchase programme for S IMMO INVEST participating certificates
Another major step towards simplifying the Company’s capital structure.
The Management Board of Sparkassen Immobilien AG (S IMMO share ISIN: AT0000652250) – with the Supervisory Board’s approval – decided to adopt a repurchase programme for S IMMO INVEST participating certificates (ISIN: AT0000795737 and AT0000630694). The Company is authorised to repurchase up to 15% of the certificates in issue, i.e., a maximum of 477,129 certificates. The Company reserves the right to cancel some or all of the certificates repurchased.
The repurchase price is a minimum of EUR 1.00 and a maximum of 2% above the amount of the most recent published quarterly entitlement per participating certificate. The repurchase programme will begin on 20 June 2011 and will end at the latest on 20 June 2012.
Holger Schmidtmayr, of Sparkassen Immobilien AG’s Management Board, comments: “This repurchase programme is another major step towards simplifying the Company’s capital structure.”
Other measures, such as the issue of a convertible bond, are not currently being planned. Neither this announcement nor the repurchase programme itself constitute a public offer by the Company to acquire participating certificates.