EANS-Adhoc: conwert Immobilien Invest SE conwert managing board to consist of
two directors
--------------------------------------------------------------------------------
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
--------------------------------------------------------------------------------
06.07.2011
Vienna, 6 July 2011 - The administrative board of conwert Immobilien Invest SE
today accepted the resignation of Volker Riebel and reached the unanimous
decision to reduce the company´s managing board of directors to two directors.
Volker Riebel, CEO of conwert since 1 January 2011, leaves the company at his
own request. Going forward, the executive directors Thomas Doll (finance) and
Jürgen F. Kelber (real estate management and sales) will share the operational
responsibilities of Volker Riebel in addition to their current
responsibilities. The administrative board will continue to fully exercise its
statutory rights in particular with regard to setting and implementing the
strategy.
The implementation of the shareholder value-strategy as set by the
administrative board at the end of 2010 will be accelerated in a disciplined
way. The company´s focus is on the simplification of internal structures,
efficient cost management, the sale of non-core activities, the strengthening
of service and third party activities as well as on disposals and selected
acquisitions of real estate portfolios in view of increasing conwert´s return
on equity.
The financial forecast for the full year 2011 is unchanged. conwert expects a
further improvement in the operating result of approximately 15% (excluding re-
valuations) and a dividend payment in line with the previous year. In the first
half of 2011 the company has already executed disposals of some EUR 250
million. Further purchase and sale transactions are under negotiation.
Further inquiry note:
CNC - Communications & Network Consulting AG
Max Hohenberg
T +43 1 521 45 250
conwert Immobilien Invest SE
Elisabeth Klinger, Konzernkommunikation
T +43 1 521 45 250
cw@conwert.at
end of announcement euro adhoc
--------------------------------------------------------------------------------
issuer: conwert Immobilien Invest SE
Albertgasse 35
A-1080 Wien
phone: 52145-0
FAX: 52145-111
mail: cw@conwert.at
WWW: http://www.conwert.at
sector: Real Estate
ISIN: AT0000697750
indexes: WBI, ATX
stockmarkets: official market: Wien
language: English