conwert Immobilien Invest SE

EANS-Adhoc: conwert Immobilien Invest SE
conwert managing board to consist of two directors


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  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.
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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 
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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
 

 

 



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