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Conwert

Euro 23.0 conwert in squeeze out process

Petrus Advisers represent 2.3% of the shares in conwert Immobilien Invest SE ('conwert'), or 33% of the free float. After scrutinising the Ebner Stolz approach and valuation opinion, Petrus deem Vonovia's squeezeout offer of €17.08 per share (6.2% below current market price) unrealistic. Petrus have refinanced their shareholding while keeping the full improvement rights. Petrus will release the findings of their valuation analysis based on eight years of understanding conwert in detail following the EGM.

August 28, 2017

Petrus Advisers recommend that all existing shareholders not tender their shares into the offer by Vonovia SE

Petrus Advisers maintain a substantial position in conwert Immobilien Invest SE (conwert) and recommend that all existing shareholders not tender their shares into the offer by Vonovia SE for up to 100% in conwert against cash or Vonovia shares. The recent and continued progress of conwert combined with the expected synergies from becoming part of the Vonovia group will substantially increase the cash flow generation of conwert.

March 20, 2017

Petrus Advisers declines conwert offer to minority shareholders of KWG and offers representations to other shareholders

Petrus Advisers, as the second largest investor in KWG Kommunale Wohnen AG, rejects the offer by conwert Immobilien SE for up to 13.47% in KWG at Euro 10.80 per share. Both the price offered as well as the intentional disregard of shareholder rights by forcing small shareholders to remain invested in the company are not acceptable to Petrus Advisers.

April 15, 2016

Conwert in Talks to Purchase BGP Investment's German Properties

Conwert Immobilien Invest SE currently is in exclusive discussions with BGP Holdings Europe S.à.r.l. with respect to the potential acquisition of the German residential property assets of BGP Investment S.à.r.l., an subsidiary of BGP Holdings Europe S.à.r.l.

July 22, 2015

Shareholders request Extraordinary General Meeting of conwert

A group of investors, in total owning more than 5% of conwert Immobilien SE (conwert), lead by Petrus Advisers has requested an Extraordinary General Meeting (EGM). The agenda contains the increase of the number of Administrative Board seats from four to five and the election of Erich Kandler to become a member of the Administrative Board.

June 15, 2015

Conwert Slips into the Reds

Austrian residential real estate enterprise is facing a hard time in Germany.

May 14, 2014

Austria: Calls for More Competence in Real Estate Management Become Louder

Stock Exchange Guru Alexander Proschofsky and real estate expert Peter Hohlbein are fighting for a seat at Conwert’s administrative board. Proschofsky has been criticizing the strategy of the listed Austrian real estate company.

May 5, 2014

Discrepancies on Austrian Real Estate Market

Because of the high rents the city of Vienna intends to do away with location premiums. Listed real estate company Conwert announced raising its rents by May 1.

April 18, 2014

Conwert to Leave Germany?

A consortium of investors is highly interested in the German subsidiary of the Austrian real estate group. The consortium is led by conwert´s former board director Johannes Meran.

April 16, 2014

Massive Dispute at Conwert

The Austrian real estate group faces troubles: representatives of small shareholders want to join the administrative council. Major shareholder Hans Peter Haselsteiner wants to dispatch his own representatives.

April 15, 2014

Conwert to Withdraw from CESEE

The Vienna-listed real estate group wants to sell its assets in Central, Eastern and Southeastern Europe. The sales proceeds are expected to reach up to € 200m.

March 29, 2014

Conwert Achieves Turnaround

The Austrian real estate group returns to the profit zone. Last year, net income totaled € 49m.

March 19, 2014

Controversials at conwert

Clemens Schneider was appointed as new CEO of the Vienna-listed real estate group. Not everybody is happy with the decision.

November 30, 2013

New CEO at conwert

Today, the Austrian real estate group has presented its new chief executive officer to the public. As of February 1, Clemens Schneider will manage conwert.

November 27, 2013

Conwert Doubles Profits in First Nine Months

conwert on course for year of record operational results following strong nine months in 2013

November 27, 2013

Germany: Austrian Real Estate Enterprises under Pressure

Austrian real estate companies have invested hundreds of millions Euros in apartments in Germany since yields are around 30 percent higher; however the German government plans on putting a hold to the upward trend.

November 25, 2013

Conwert Changes Strategy

The Vienna-listed real estate group will strengthen its portfolio in Germany. Moreover, conwert faces a change in leadership.

October 20, 2013

Austria: Conwert Shows Best Half-Year Results in History

conwert with best operational half-year results in the company's history.

August 22, 2013

conwert strengthens its presence in Germany

The Austrian property investor concludes the acquisition of a large residential property portfolio. Portfolio of 4,016 rental units and a floor space of 265,815 sqm

August 6, 2013

Conwert: Strategic Repositioning Completed

CEO for conwert in Q4 2013

July 24, 2013

Conwert: Profits in 2012 Negatively Effected

Target EBT of € 50m was met. Revenues dropped by 26.7 % y/y from € 852.9m to 625.1m. Earnings before tax amounted to € 154.6m. Outlook: conwert plans to gradually expand core business in Germany and Austria.

March 21, 2013

Stavros Efremidis New Executive Director of conwert

Stavros Efremidis is responsible for conwert’s operating business in Germany as Executive. Thomas Doll, Executive Director and CFO of conwert, is responsible for the operating business in Austria and CEE.

February 20, 2013

Conwert Finishes Major Investment

The Austrian real estate company closes the acquisition of majority interest in KWG Kommunale Wohnen AG.

January 21, 2013

Conwert Announces Strategic Asset Refocusing

According to preliminary figures, the EBT guidance of € 50 million has been achieved in 2012 before one-off effects. Strategic refocusing leads to negative one-off adjustments

January 18, 2013

conwert acquires majority stake in German KWG

Acquisition of approx. 60% stake in German residential property company with 9,700 units. Purchase price of approx. 620 € / sqm.

December 21, 2012

Conwert Notes Falling Revenue and Net Income

The Austrian real estate company publishes results for the first nine months of 2012. Earnings before tax (EBT) at 22.5m increased more than sixfold.

November 22, 2012

Conwert Buys Back Convertible Bonds

Result of tender offer for convertible bonds due2014.

September 6, 2012

conwert Issues New Convertible Bonds

conwert Immobilien Invest SE , a company listed on the Vienna Stock Exchange, has initiated a two-step transaction with the aim of reducing its leverage and extending the maturity profile of its debt.

August 30, 2012

conwert significantly increases earnings

In the first half of 2012, earnings before tax (EBT) increased by 45.2% to € 18.0m. Net income was up by 17.1% to € 9.6m.

August 23, 2012

conwert takes over residential portfolio in Berlin

Residential property portfolio acquired at high two-digit million amount . Economies of scale possible through significant expansion of conwert’s portfolio in Berlin

August 9, 2012

Conwert ´s Corporate Bonds Generate Strong Demand

Subscription period closed early – first retail bond from the Austrian real estate company in the amount of € 65m enjoys strong demand.

June 16, 2012

Conwert: Corporate Bond Successfully Placed

The Austrian real estate company issues a retail bond with a term of five years until 2017. The total volume oft he bond issue is € 65m.

June 13, 2012

Vienna Stock Exchange: Winners and Losers (2012-06-05)

Daily News-Flash from the Vienna Stock Exchange: Upgrades and Downgrades, Analyzes and Comments.

June 5, 2012 · Updated: June 5, 2012; 19:27

Conwert to sell € 50m of Bonds

The Austrian real estate company conwert Immobilien plans to sell € 50m of 5.75 percent bonds due in 2017.

June 1, 2012

Vienna Stock Exchange: Winners and Losers (2012-05-31)

Daily News Flash from Vienna Stock Exchange: Upgrades and Downgrades, Analyses and Comments.

May 31, 2012 · Updated: May 31, 2012; 18:02

Vienna Stock Exchange: Winners and Losers (2012-05-30)

Daily News Flash from Vienna Stock Exchange: Upgrades and Downgrades, Comments and Analyses.

May 30, 2012 · Updated: May 30, 2012; 18:01

Conwert Records Declining Earnings

The Austrian real estate company presented its first quarter results today. Net rental income was down by 13.3%

May 29, 2012

Conwert: Decline in Earnings Expected

Analysts of Erste Group and RCB (Raiffeisen Centrobank) predice a decrease in net income and rental income at the Austrian real estate company.

May 26, 2012

Haselsteiner to Leave Strabag Earlier

Hans-Peter Haselsteiner is mandated as CEO of Austria´s largest construction company until 2015. Nevertheless, he will leave the management board earlier.

May 4, 2012

Conwert: Haselsteiner Holds 24%

The Austrian industrialist intends to raise his stake in the real estate company further.

April 27, 2012

Conwert Establishes Joint Venture in Germany

The Austrian real estate company expands in Germany. Sales volume of the construction project in Bamberg is estimated to reach € 100m.

April 27, 2012

Vienna Stock Exchange: Winners and Losers (2012-04-20)

Daily News-Flash from Vienna Stock Exchange: Upgrades and Downgrades, Winners and Losers.

April 20, 2012

Vienna Stock Exchange: Winners and Losers (2012-04-18)

Daily News Flash from Vienna Stock Exchange: Upgrades and Downgrades, Winners and Losers.

April 18, 2012

Vienna Stock Exchange: Winners and Losers (2012-04-16)

Daily News Flash from Vienna Stock Exchange: Upgrades and Downgrades, Winners and Losers.

April 16, 2012 · Updated: April 16, 2012; 18:05

Vienna Stock Exchange: Winners and Losers (2012-04-05)

Daily News Flash from Vienna Stock Exchange: Upgrades and Downgrades, Winners and Losers.

April 5, 2012

Massive Increase in Revenues at Conwert

Revenues at the Austrian real estate company increase by 55.9 % to € 852.9m. Net income almost doubled.

March 28, 2012

Vienna Stock Exchange: Winners and Losers (2012-02-27)

Daily News Flash from Vienna Stock Exchange. Upgrades and Downgrades, Winners and Losers.

March 27, 2012 · Updated: March 27, 2012; 18:27

Conwert: Haselsteiner Wants Blocking Minority

The Austrian industrialist, who is CEO of Strabag Group, wants to reach at least a 25% stake at the real estate company. Petrus Advisers is said to exit.

March 23, 2012

Vienna Stock Exchange: Winners and Losers (2012-02-23)

Daily News Flash from Vienna Stock Exchange: Upgrades and Downgrades, Winners and Losers.

March 23, 2012 · Updated: March 23, 2012; 10:51

Haselsteiner Buys 15% Stake in Conwert

Hans-Peter Haselsteiner, CEO of the Austrian construction company Strabag, buys a 15% stake in the Austrian real estate supplier Conwert. The seller is the London-based Petrus Advisers LLP.

March 14, 2012