Procimmo: Fund merger to take place in the fourth quarter

After the financial supervisory authority Finma approved the conversion of the Procimmo Swiss Commercial Fund II into a sub-fund of the Procimmo Real Estate SICAV on May 16, the conversion was completed on May 31. Procimmo has now announced the next steps in the fund merger:

• An Extraordinary General Meeting of the SICAV is planned for mid to late August. The merger of the two sub-funds will be voted on there. Finma also still has to approve the merger.
• An Annual General Meeting is planned between mid and end of October 2023, at which the annual report, the annual financial statements and the distribution of dividends will be voted on, among other things.
• At the end of October, Procimmo intends to delist the Swiss Commercial Fund II sub-fund from the SIX Swiss Exchange; at the same time, a listing is planned for the new shares in the Swiss Commercial Fund sub-fund.
• Once all the necessary approvals have been granted, the merger can take place in the fourth quarter. The first joint annual report is expected to be published in the first quarter of 2024. (ah)