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Conwert Immobilien Invest SE extends share buyback programme

Published: July 6, 2010; 00:00 · (Vindobona)

At the AGM of conwert Immobilien Invest SE, the Administrative Board was authorised to purchase treasury shares up to the legally defined maximum.

Conwert Immobilien Invest SE extends share buyback programme / Picture: © Vindobona.org

At the Annual General Meeting of conwert Immobilien Invest SE on 26 May 2009, the Administrative Board was authorised to purchase treasury shares up to the legally defined maximum in accordance with § 65 para. 1 (8) and para. 1a and 1b of the Austrian Stock Corporation Act for a period of 30 months beginning on the date the resolution is passed, at a minimum value of €1.00 ($1.26) and a maximum value of €10.00 ($12.62) per share.

Conwert acquired a total of 7,041,120 common shares or 8.249% of the issued capital in three previous share buyback programmes (31.01.2008 to 30.06.2008, 29.08.2008 to 25.04.2009 and 16.12.2009 to 30.06.2010). Thereof conwert sold 6,296,699 common shares within a property transaction, 744,421 common shares were owned by the company as of 30 June 2010.

At the end of the previous share buyback programme the Administrative Board of the company exercises again the authorisation granted at the Annual General Meeting held on 26 May 2009 and adopts the following fourth share buyback programme:

- Duration: 12.07.2010 to 31.12.2010 at the latest
- Class of shares: Common shares
- Planned volume: up to 1.751% of issued capital, therefore a maximum of 1,494,807 common shares
- Purchase price: €1.00 ($1.26) to €10.00 ($12.62) per share
- Form of purchase: over the Stock Exchange
- Purpose: for the purpose permitted by § 65 para. 1 (8) of the Austrian Stock Corporation Act, in particular for the use in the acquisition of companies and properties


The Administrative Board adopted a further share buyback programme because the current share price is roughly 45% below the share’s net asset value (NAV) and provides a good opportunity to buy own shares to use them, amongst other things, for later acquisitions.

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