BFW: Extraordinary General Meeting approves amendments to the Articles of Association
The Extraordinary General Meeting of BFW Liegenschaften on January 10, 2020 approved the proposals of the Board of Directors.
According to the real estate company, almost 73% of all voting rights were represented at the Extraordinary General Meeting. The proposed amendments to the Articles of Association would have been accepted by the shareholders with 97.8% and 97.2% votes in favor respectively.
The revision of the Articles of Association in connection with the planned delisting of the Company is thus approved. At the end of 2019, BFW Holding, which is backed by company founder Beat Frischknecht, had submitted a takeover bid for BFW Liegenschaften. Frischknecht wanted to take the company off the stock exchange, it was said at the time.
Following the completion of the portfolio rounding, the company is no longer pursuing a growth strategy and has no plans to substantially increase the existing portfolio, valued at CHF 330 million, again in the foreseeable future, the company said in November 2019. Frischknecht, as founder and main shareholder, therefore concluded that further development of the company as a private company would be better ensured. (ah)
