AGM approves all proposals – financial and real estate expert Kurt Hardt appointed to the Board of Directors
The shareholders of Peach Property Group, an investor specialising in German real estate with a focus on residential property, today approved all proposals made by the Board of Directors at today’s general meeting in Zurich with a clear majority. A total of around 47 percent of the share capital was represented.
In the person of Kurt Hardt an acknowledged expert for the German financial and real estate markets and a member of the Managing Board of Kreissparkasse Biberach has been elected to the Board of Directors. The Board has thus been increased from three to four members reflecting the dynamic growth enjoyed by Peach Property Group. The Company believes that adding Kurt Hardt to its Board of Directors will provide a valuable impetus for growing its business and for the continued expansion of the Group’s real estate holdings in Germany. In addition, the Chairman of the Board of Directors, Reto Garzetti, and the Board members Peter Bodmer and Dr. Christian De Prati were confirmed in office for a further year.
No dividend will be disbursed in line with the proposal in order to use the funds for the further expansion the portfolio of residential properties in Germany. Also in connection with the Group’s further growth, conditional capital was increased by around CHF 400,000 to CHF 2.7 million to allow the Group to react flexibly to opportunities which may present themselves.
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About Peach Property Group AG
Peach Property Group is a property investor and developer focused on investments in Germany and Switzerland. The Group stands for long time experience, competence and quality. Innovative solutions for modern housing needs, strong partnerships and a wide value chain complete the profile of the Group. The portfolio consists of an increasing number of high yield investment properties, typically in B-cities in close reach to metropolitan areas. In addition, the Group develops properties for its own portfolio or for the sale as condominium. Developments for sale focus on A-locations and encompass attractive architecture and high level furnishing for an international clientele. The business activities of the Group cover the entire value chain, from property acquisition and site selection to active asset management and finally to the sale or lease of properties.
Peach Property Group AG is headquartered in Zurich and has its German Group headquarters in Cologne. Peach Property Group AG is listed on the SIX Swiss Exchange (PEAN, ISIN CH0118530366). Its Board of Directors consists of Reto Garzetti (President), Peter Bodmer, Dr. Christian De Prati and Kurt Hardt.
For more information, see http://peachproperty.com