EANS-Adhoc: conwert Immobilien Invest SE
conwert managing board to consist of
two directors
06.07.2011 – 08:04
-------------------------------------------------------------------------------- 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