General Assembly decides dividend of CHF 0.30 per share and approves all other items with a clear majority
The shareholders of Peach Property Group AG, an investor specialising in holding investment properties in Germany with a focus on residential real estate, approved all of the agenda items at today’s Ordinary General Meeting with a clear majority. A total of around 65.3 percent of the share capital and 86.8 percent of the registered voting rights were represented at this year’s General Meeting, which was again held purely virtually.
The General Meeting decided – among others – a dividend payment of CHF 0.30 per share with more than 99 percent of votes cast. The dividend will be distributed in equal parts from retained earnings and the capital investment reserve to all shareholders on record as of 1 June 2021. In addition, the shareholders decided to increase the existing conditional capital by around CHF 5.61 million to a new total of CHF 6.275 million with more than 86 percent of votes cast. Peach Property Group is thus laying the foundations for future growth.
In addition, the General Meeting confirmed the remuneration of the Supervisory Board and the management, and re-elected the Chairman of the Supervisory Board Reto Garzetti alongside with other board members Peter Bodmer, Dr. Christian De Prati, Kurt Hardt and Klaus Schmitz for a further tenure of one year.
As already reported in February, the current Peach Property CFO Dr Marcel Kucher will be leaving the company at his own request after the Annual General Meeting on May 31, 2021. His successor is Thorsten Arsan, who will take over as CFO of Peach Property Group AG on 1 June.
Following the highly successful fiscal year 2020, the company is also on track for growth in 2021: In particular, Peach Property Group early today announced that it was increasing its real estate portfolio by acquiring around 4,300 apartments in North Rhine-Westphalia and Bremen. This increases the property portfolio to over 27,500 apartments and the market value of the real estate portfolio to approximately CHF 2.5 billion.
The detailed voting results and minutes of the General Meeting are available on the Peach Property Group website: http://peachproperty.com/en/investoren/corporate-governance/
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Dr. Thomas Wolfensberger, Chief Executive Officer and Dr. Marcel Kucher, Chief Financial Officer
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About Peach Property Group AG
The Peach Property Group is a real estate investor and developer with an investment focus in Germany. The group stands for many years of experience, competence and quality. Innovative solutions for state-of-the-art living needs, strong partnerships and a broad value chain round off the profile. The portfolio consists of high-yield portfolio properties, typically in B-cities in the catchment area of conurbations. In addition, the Group develops real estate for its own portfolio or for condominium marketing. In the latter area, the Group concentrates on A locations and properties with attractive architecture and upscale furnishings for an international clientele. Its activities span the entire value chain from evaluating locations through to acquisitions and also active asset management and property sales or lettings.
Peach Property Group AG has its registered office in Zurich and the Group is headquartered in Cologne. Peach Property Group AG is listed on SIX Swiss Exchange (PEAN, ISIN CH0118530366). Its Board of Directors consists of Reto Garzetti (President), Peter Bodmer, Dr. Christian De Prati, Kurt Hardt and Klaus Schmitz.
More information at http://peachproperty.com