HAMBORNER REIT AG / Key word(s): AGM/EGM/Dividend
Ad hoc notification pursuant to Article 17 of the Market Abuse Regulation:
HAMBORNER REIT AG: Postponement of 2020 Annual General Meeting;
HAMBORNER REIT AG, Goethestrasse 45, 47166 Duisburg, 7 April 2020
In view of the current developments in connection with the spread of the SARS-CoV-2 virus and the German government's more stringent prevention measures as a result, the Management Board of HAMBORNER REIT AG, in coordination with the Supervisory Board, has today resolved to postpone the Annual General Meeting planned to be held on 6 May 2020 until a later date in the second half of 2020. Owing to the postponement, the dividend will not be paid as intended on 11 May 2020 as this would require a corresponding resolution on the appropriation of profits by the Annual General Meeting. The company will announce a new date for the Annual General Meeting as soon as sufficient planning and performance certainty can be guaranteed.
Given the general economic repercussions of the pandemic that can currently still be only partially surmised and the associated uncertainty regarding the company's business performance over the year as a whole, in connection with the postponement of the Annual General Meeting, the Management Board has resolved to make the amount of the dividend payment for the 2019 financial year subject to reservation for now. This decision has been made in line with the principle of business prudence and despite the fact that the company's financial and liquidity situation remains sound. The Supervisory Board has acknowledged and approved this precautionary measure. HAMBORNER REIT AG had originally planned to propose a dividend of €0.47 per share for shareholders at the Annual General Meeting (previous year: €0.46). As soon as the company is able to make a meaningful assessment of the actual economic impact of the crisis on future business developments, the Management Board and the Supervisory Board will review the appropriation of profits and prepare an updated dividend proposal for the new Annual General Meeting to be convened if necessary.
On the basis of section 13(1) of the German REIT Act, which stipulates a mandatory distribution of 90% of the net income for the year generated in accordance with the German Commercial Code, the company intends to distribute a dividend of at least €0.18 per share to its shareholders.
HAMBORNER REIT AG
The Management Board
Head of Investor Relations & Public Relations
HAMBORNER REIT AG
Tel: +49 (0)203 5440532
|Company:||HAMBORNER REIT AG|
|Listed:||Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1017291|
|End of Announcement||DGAP News Service|