Acron Helvetia I: AGM decides on opting out
The General Meeting of Shareholders of the real estate company Acron Helvetia I Immobilien AG has resolved to introduce an opting-out clause in the company's Articles of Association.
An opting-out clause, such as the one now introduced by Acron Helvetia I, has the effect that an acquirer does not have to make a public purchase offer to all holders of equity securities (so-called mandatory offer), even though it exceeds the threshold of one third of the voting rights.
According to Acron, 46.87 percent of the voting rights and share capital were represented at the Annual General Meeting. It was duly constituted and a quorum was present for the scheduled agenda items. According to the practice of the Swiss Takeover Board, the amendment of the Articles of Association introducing the opting-out requires a simple majority of all votes cast as well as a simple majority of the votes cast by the shareholders.
Acron Helvetia I has held the Lyreco office and logistics property in Buchs (ZH) since December 2007. On January 1, 2009, the company merged with Südpark Zuchwilerstrasse Immobilien AG. Since then, it has held the office property Südpark Solothurn as a second investment property. Since September 2009 the shares of the company are listed on the BX Berne eXchange.
