Vonovia SE: Vonovia requests initiation of compulsory acquisition of minority shares in Victoria Park (news with additional features)
DGAP-News: Vonovia SE / Key word(s): Squeeze Out
Vonovia requests initiation of compulsory acquisition of minority shares in Victoria Park
- Vonovia has requested the initiation of a compulsory acquisition proceeding to acquire all remaining shares in Victoria Park.
- The Board of Directors of Victoria Park has resolved to apply for a delisting of the ordinary class A and class B shares in Victoria Park.
- The Board of Directors of Victoria Park has resolved to convene an Extraordinary General Meeting for the purpose of resolving to redeem all outstanding preference shares.
Bochum, May 24, 2019 - Vonovia SE ("Vonovia") previously announced that Vonovia has exercised call options, resulting in a shareholding exceeding 90 per cent of the shares and votes in Victoria Park AB (publ) ("Victoria Park").
Vonovia has requested that the Board of Directors of Victoria Park shall initiate a compulsory acquisition proceeding for the remaining shares in Victoria Park in ac-cordance with the Swedish Companies Act (Sw. aktiebolagslagen (2005:551)). Vonovia con-trols approximately 91.4 per cent of the total number of shares in Victoria Park.
As a consequence of Vonovia controlling more than 90 per cent of the shares in Victoria Park, and the request from Vonovia to initiate a compulsory acquisition proceeding for all remaining shares in Victoria Park, the Board of Directors of Victoria Park has resolved to apply for delisting of the Victoria Park ordinary shares of class A and class B from Nasdaq Stockholm. The last day of trading in the class A and class B shares on Nasdaq Stockholm is expected to be on or around 17 June 2019.
The Board of Directors of Victoria Park has resolved to propose an Extraordinary General Meeting to resolve on a redemption of all 1,032,047 preference shares, in accordance with section 5.4 of the Articles of Association, for a redemption price of SEK 300 per preference share.
The company, which is based in Bochum, has been listed on the stock exchange since 2013 and on the DAX 30 since September 2015. Vonovia SE is also listed on the international indices STOXX Europe 600, MSCI Germany, GPR 250 and EPRA/NAREIT Europe. Vonovia has a workforce of approximately 10,000 employees.
This press release has been issued by Vonovia SE and/or its subsidiaries solely for information purposes. This press release may contain statements, assumptions, opinions and predictions about the anticipated future development of Vonovia ("forward-looking statements") that reproduce various assumptions regarding, e.g., results derived from Vonovia's current business or from publicly available sources that have not been subject to an independent audit or in-depth evaluation by Vonovia 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 exact indicators that the forecast results will be achieved. All forward-looking statements relate solely to the day on which this press release was issued to its recipients. It is the responsibility of the recipients of this press release to conduct a more detailed analysis of the validity of forward-looking statements and the underlying assumptions. Vonovia 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 press release, its contents and, in particular, all forward-looking statements or in any other way, as far as this is legally permissible. Vonovia does not provide any guarantees or assurances (either explicitly or implicitly) in respect of the information contained in this press release. Vonovia is not obliged to update or correct the information, forward-looking statements or conclusions drawn in this press release or to include subsequent events or circumstances or to report inaccuracies that become known after the date of this press release.
Document title: Vonovia requests initiation of compulsory acquisition of minority shares in Victoria Park
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