Aareal Bank AG Announces Upcoming AGM and Squeeze-out Resolution

Aareal Bank AG has officially called upon its shareholders for the annual general meeting (AGM) scheduled for 3 May 2024, which will proceed as a virtual event. A significant agenda item includes a resolution for the squeeze-out of minority shareholders, with the bank's primary shareholder, Atlantic BidCo GmbH, setting a cash compensation of €33.20 per share.

The cash compensation amount is based on an evaluation by ValueTrust Financial Advisors Deutschland GmbH and confirmed suitable by RSM Ebner Stolz GmbH & Co. KG. Atlantic BidCo currently holds approximately 95.50 percent of Aareal Bank AG's issued share capital and voting rights.

The AGM's agenda also encompasses proposals regarding the full retention of net retained profit from the financial year 2023 to foster company growth. Elections for Supervisory Board positions are up, with Maximilian Rinke, Denis Hall, and Hans-Hermann Anton Lotter as proposed candidates. Departing from the board is Prof. Dr Hermann Wagner, who had been a member since 2015 and served as chairman since 2021, handing over his role to Jean Pierre Mustier in January 2024.

Other items on the agenda include the formal approval of the Management and Supervisory Boards' actions, the election of external auditors, adjustments to Management Board members' variable remuneration cap, and a merger involving a Group entity into Aareal Bank AG. Held virtually, the AGM will enable shareholders to participate through audio-visual broadcast and exercise their voting rights electronically.