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The general meeting of TLG IMMOBILIEN AG accepts proposals by a large majority, significantly underlining the successful course of the company

DGAP-News: TLG IMMOBILIEN AG / Key word(s): AGM/EGM/Real Estate

28.05.2018 / 11:01
The issuer is solely responsible for the content of this announcement.


The general meeting of TLG IMMOBILIEN AG accepts proposals by a large majority, significantly underlining the successful course of the company
 

- Proposals by the Management Board and Supervisory Board accepted by a large majority

- Dividend of EUR 0.82 per qualifying no-par value share approved

- Sascha Hettrich and Stefan E. Kowski elected as members of the Supervisory Board


Berlin, 28 May 2018 - The general meeting of TLG IMMOBILIEN AG held on 25 May 2018 supported the growth strategy being pursued by the company. The shareholders in attendance passed all resolutions proposed by the Management Board and Supervisory Board by significant majorities.

With the backing of 99.9% of the share capital with voting rights present, the general meeting accepted the proposed appropriation of the net retained profits of around EUR 85.3 m from the 2017 financial year. In line with this resolution, a total of around EUR 84.6 m will be paid to the shareholders in the form of a dividend. This equates to EUR 0.82 per qualifying no-par value share. The remaining EUR 0.7 m will be carried forward as profit. As the entire dividend will be paid from the contribution account for tax purposes in the sense of Sec. 27 of the German Corporation Tax Act (KStG), it will be paid without deducting withholding tax or the solidarity surcharge and will not result in taxable income from capital assets in the sense of Sec. 20 (1) line 1 no. 1 of the German Income Tax Act (EStG).

The actions of the members of the Management Board and Supervisory Board in 2017 were formally approved by significant majorities of 99.8% and 99.3% of the share capital of the company with voting rights represented at the general meeting.

With a 99.9% majority of the share capital with voting rights in attendance, the general meeting once again appointed the Berlin office of Ernst & Young Wirtschaftsprüfungsgesellschaft GmbH to audit the financial statements and consolidated financial statements for the 2018 financial year and carry out an auditor's review of the half-year financial report for 2018.

Additionally, Sascha Hettrich and Stefan E. Kowski were each elected as members of the Supervisory Board with majorities of 99.6% of the share capital with voting rights in attendance. They succeed Elisabeth Talma Stheeman and Frank D. Masuhr who stepped down from the Supervisory Board with effect from 29 January 2018 and 31 January 2018 respectively.

Additionally, the Management Board reported on the use of the authorised capital which was partially utilised in November 2017 in line with the resolutions of the Management Board and the market and acquisitions committee of the Supervisory Board. Through this capital increase, the share capital of the company was increased by EUR 7.4 m to EUR 102 m.

Additionally, control and profit transfer agreements between TLG IMMOBILIEN AG and three of its subsidiaries were approved through resolutions that were passed by majorities.

"The financial year ended was a great success for TLG IMMOBILIEN. Our general meeting underlined this again last Friday and voted to show its confidence in the continuation of this successful strategy. We would like to thank our shareholders for this", says Peter Finkbeiner, member of the Management Board of TLG IMMOBILIEN, of the outcome of the general meeting.

Niclas Karoff, member of the Management Board of TLG IMMOBILIEN AG, adds: "We want to continue expanding our property portfolio in 2018, although as always we will focus on the quality of the individual properties and what value they can add to the portfolio. As before, our investment strategy is centred on office properties in attractive cities and neighbourhood shopping centres in well-functioning micro-locations with impressive underlying economic data."

All documents of relevance to the 2018 general meeting are published on the website of the company:

www.tlg.eu > Investor Relations > General Meeting

CONTACT

Christoph Wilhelm
Corporate Communications

Phone: +49 30 2470 6355
E-mail: christoph.wilhelm@tlg.de
Sven Annutsch
Investor Relations

Phone: +49 30 2470 6089
E-mail: sven.annutsch@tlg.de
 

ABOUT TLG IMMOBILIEN AG

TLG IMMOBILIEN AG is a listed leading commercial real estate company in Germany that has been synonymous with real estate expertise for over 25 years. TLG IMMOBILIEN AG generates stable rental in-come and exhibits low vacancy rates, very good building stock and profits from its local employees' excel-lent market knowledge. As an active portfolio manager, TLG IMMOBILIEN AG is specialised in commercial properties for office and retail use: it focuses on managing a high-quality portfolio mostly comprising office properties in Berlin, Frankfurt/Main, Dresden, Leipzig and Rostock. The company also has a region-ally diversified portfolio of retail properties in highly frequented micro-locations. The portfolio also includes seven hotels in Berlin, Dresden, Leipzig and Rostock. TLG IMMOBILIEN AG's properties stand out not on-ly due to their excellent locations but also because of their long-term rental or lease agreements.

As at 31 March 2018, the property value amounted to EUR 3.5 bn. As at the same reporting date, the EPRA Net Asset Value per share amounted to EUR 22.09.

This publication contains forward-looking statements based on current views and assumptions of TLG IMMOBILIEN AG's management and made to the best of knowledge. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause TLG IMMOBILIEN AG's revenues, profitability or the degree to which it performs or achieves its targets, to materially deviate from what is explicitly or implicitly stated or described in this publication. Therefore, persons who obtain possession of this publication should not rely on such forward-looking statements. TLG IMMOBILIEN AG accepts no guarantee or responsibility regarding such forward-looking statements and will not adjust them to future results or developments.



28.05.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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