BFW Liegenschaften ends share buyback
BFW Liegenschaften AG has successfully completed its share buyback program announced in October, the real estate company announced.
The tender ratio was more than 150 percent or 1.42 million registered shares category A, according to BFW Liegenschaften AG. This corresponds to 30.3 percent of the share capital. Since more than the targeted 20 percent of the share capital or 935,351 registered shares were tendered, a proportional reduction was made.
The Board of Directors intends to propose the repurchased shares to the Extraordinary General Meeting on December 5, 2018 for cancellation and to reduce the share capital accordingly after approval by the General Meeting and the debt call has been carried out.
The execution of the capital reduction is expected to take place in February 2019, according to the information provided. Until the cancellation, the tendered registered shares will remain in the possession of BFW and will no longer be entitled to dividends. (ah)
