DGAP-Adhoc: CPI PROPERTY GROUP ("CPIPG") and S IMMO AG ("S IMMO") reached an agreement concerning S IMMO"s support for the proposed abolishment of the voting cap and the intended takeover offe

2022. május 02., hétfő, 21:52

DGAP-Ad-hoc: CPI PROPERTY GROUP / Key word(s): Takeover

CPI PROPERTY GROUP ("CPIPG") and S IMMO AG ("S IMMO") reached an agreement concerning S IMMO"s support for the proposed abolishment of the voting cap and the intended takeover offe

02-May-2022 / 21:52 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.


(société anonyme)

40, rue de la Vallée

L-2661 Luxembourg

R.C.S. Luxembourg: B 102 254


Ad hoc disclosure of inside information according to Article 17 of the EU Market Abuse Regulation

Luxembourg, 02 May 2022

CPI PROPERTY GROUP ("CPIPG") and S IMMO AG ("S IMMO") reached an agreement concerning S IMMO"s support for the proposed abolishment of the voting cap and the intended takeover offer.

CPIPG and S IMMO have today reached an agreement concerning next steps in relation to CPIPG"s request to convene an extraordinary shareholders" meeting of S IMMO ("EGM") to resolve on the abolishment of the voting cap and CPIPG"s intention to subsequently launch a mandatory offer to the shareholders of S IMMO (the "Offer").

The key terms of the agreement are:

-- CPIPG has agreed to increase the Offer price to EUR 23.50 per S IMMO share cum dividend, which S IMMO"s management board considers fair;

-- instead of a separate EGM, S IMMO will convene the 2022 annual general meeting (the "AGM") already for 1 June 2022, the proposed resolution on the abolishment of the voting cap will be the first item on the agenda; S IMMO"s management board - with the approval of the supervisory board - supports the abolishment of the voting cap and the Offer;

-- if the resolution is passed to abolish the voting cap, CPIPG will support the management"s dividend proposal of EUR 0.65 per share. This means that if payment of the proposed dividend occurs prior to settlement of the Offer, S IMMO shareholders will receive the dividend payment and, provided they accept the Offer, a purchase price per S IMMO share of EUR 22.85 upon settlement of the Offer.

For more details and background please refer to our Ad hoc and dislosure and corporate news issued on 14 April 2022.


Information and Explanation of the Issuer to this News:

Notifying Person:

Investor Relations

David Greenbaum

Chief Financial Officer

[email protected]

Important Information:

This announcement has been issued by CPI PROPERTY GROUP solely for information purposes. Moreover, it is neither an offer to purchase nor a solicitation to sell securities of S IMMO AG (S IMMO). The final conditions and further provisions relating to the takeover offer will be published in the offer document which will be published subject to the Austrian Takeover Commission not prohibiting its publication. CPI PROPERTY GROUP as bidder reserves the right to deviate from the terms presented herein in the final terms and provisions of the takeover offer. Investors and holders of shares in S IMMO are strongly recommended to review the offer document and all other documents related to the takeover offer, as they will contain important information. In accordance with Austrian and European law, the mandatory takeover offer will be conducted solely on the basis of the applicable provisions of the Austrian law, in particular the Austrian Takeover Act (ÜbG). The intended takeover offer is not made or intended to be made pursuant to the laws of any jurisdiction other than those of Austria. With regard to the takeover offer, CPI PROPERTY GROUP and the persons acting in concert with CPI PROPERTY GROUP within the meaning of Section 1 no. 6 of the Takeover Act do not assume any responsibility for compliance with laws other than the laws of Austria. Notifications and the publication of information on the intended takeover offer are intended to be in Austria only, unless a notification or other publication is required or permitted under the respective laws of other jurisdictions.

To the extent permissible under applicable law or regulation, CPI PROPERTY GROUP and parties acting in concert with it or their respective brokers may purchase, or conclude agreements to purchase, shares in S IMMO, directly or indirectly, outside of the scope of the intended takeover offer, before, during or after the period in which the takeover offer remains open for acceptance. This also applies to other securities which are directly convertible into, exchangeable for, or exercisable for S IMMO shares, such as convertible bonds, if any. These purchases may be conducted over the stock exchange at market prices or outside the stock exchange at negotiated conditions. Any information on such purchases will be disclosed as required by law or regulation in Austria.

This announcement may contain statements, assumptions, opinions and predictions about the anticipated future development of CPI PROPERTY GROUP or S IMMO (forward-looking statements) that reproduce various assumptions regarding results derived from CPI PROPERTY GROUP"s or S IMMO"s current business or from publicly available sources that have not been subject to an independent audit or in-depth evaluation by CPI PROPERTY GROUP and that may turn out to be incorrect at a later stage. All forward-looking statements express current expectations based on the current business plan and various other assumptions and therefore come with risks and uncertainties that are not insignificant. All forward-looking statements should not therefore be taken as a guarantee for future performance or results and, furthermore, do not necessarily constitute appropriate indicators that the forecast results will be achieved. All forward-looking statements relate solely to the day on which this announcement was issued to its recipients. It is the responsibility of the recipients of this announcement to conduct a more detailed analysis of the validity of forward-looking statements and the underlying assumptions. CPI PROPERTY GROUP accepts no responsibility for any direct or indirect damages or losses or subsequent damages or losses, as well as penalties that the recipients may incur by using the announcement, its contents and, in particular, all forward-looking statements or in any other way, as far as this is legally permissible. CPI PROPERTY GROUP does not provide any warranties, guarantees or assurances (either explicitly or implicitly) in respect of the information contained in this announcement. CPI PROPERTY GROUP is not obliged to update or correct the information, forward-looking statements or conclusions drawn in this announcement or to include subsequent events or circumstances or to report inaccuracies that become known after the date of this announcement.

02-May-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language: English

40, rue de la Vallée

L-2661 Luxembourg

Phone: +352 264 767 1
Fax: +352 264 767 67
E-mail: [email protected]
Internet: www.cpipg.com
ISIN: LU0251710041
Listed: Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Dusseldorf, Stuttgart
EQS News ID: 1341579

End of Announcement DGAP News Service

1341579  02-May-2022 CET/CEST

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