Novavest: AGM approves merger with Senioresidenz
Now that both general meetings of Novavest and Senioresidenz have approved the merger of the companies, the way is clear for the new company with a portfolio of one billion Swiss francs.
Yesterday, Wednesday, an Extraordinary General Meeting of Novavest Real Estate AG approved the merger with Senioresidenz AG and the merger agreement with a majority of over 96%. The day before, the same thing happened at Senioresidenz, with a similarly high approval rate. Just under 37% of shares were represented at Novavest and around 35% at Senioresidenz. The Chairman of the new Board of Directors is Thomas Sojak, who previously held the same position at Senioresidenz, while Claudia Suter will become a member of the Board of Directors and a member of the Remuneration Committee of Novavest Real Estate.
Portfolio now exceeds the billion threshold
The merger will create a real estate portfolio with a market value of over CHF 1 billion and a combined residential share of target rents of CHF 59%. The transaction at Novavest will be implemented through an ordinary capital increase of CHF 52.9 million. The new shares will be used to exchange the existing registered shares of Senioresidenz. CHF 3.0 million of conditional capital will be created for the assumption of a mandatory convertible bond of Senioresidenz.
Completion in June
The merger will be completed on June 14. Several current members of the existing Board of Directors will then step down from their positions, namely Novavest Board Chairman Gian Reto Lazzarini as well as Markus Neff, Arthur Ruckstuhl, Nathalie Bourquenoud and Patrick Niggli. (aw)
