.
- VIB Vermögen AG offers compensation of 1.45 of its own no-par value shares for each BBI share
- Annual compensation payment of EUR 0.64 (gross) per share for nonacceptance
- Agreement still to be approved by General Meetings
VIB Vermögen AG, a company specializing in the portfolio management of commercial properties, today signed a profit and loss transfer agreement with the Managing Board of BBI Bürgerliches Brauhaus Immobilien AG. In this agreement, the company offers BBI AG's shareholders a reasonable compensation in shares taking statutory requirements into account. The agreement provides for an exchange ratio of 8.02 BBI shares to 11.62 VIB shares.
BBI Bürgerliches Brauhaus Immobilien AG shareholders will thus receive for each BBI share 1.45 shares of VIB Vermögen AG if they accept the offer. Possible fractions as a result of the fractional exchange ratio will be compensated by cash payments from VIB Vermögen AG.
After the contract has come into effect, the BBI AG will be obliged to transfer its profits and losses completely to VIB Vermögen AG. In return, the profit and loss transfer agreement includes an annual fixed gross compensation of EUR 0.64 per non-par value share from VIB Vermögen AG for BBI AG shareholders who do not want to accept the compensation offer.
The agreement still has to be approved by both companies' General Meetings. VIB Vermögen AG's General Meeting is to be called for June 25, 2008.
- VIB Vermögen AG offers compensation of 1.45 of its own no-par value shares for each BBI share
- Annual compensation payment of EUR 0.64 (gross) per share for nonacceptance
- Agreement still to be approved by General Meetings
VIB Vermögen AG, a company specializing in the portfolio management of commercial properties, today signed a profit and loss transfer agreement with the Managing Board of BBI Bürgerliches Brauhaus Immobilien AG. In this agreement, the company offers BBI AG's shareholders a reasonable compensation in shares taking statutory requirements into account. The agreement provides for an exchange ratio of 8.02 BBI shares to 11.62 VIB shares.
BBI Bürgerliches Brauhaus Immobilien AG shareholders will thus receive for each BBI share 1.45 shares of VIB Vermögen AG if they accept the offer. Possible fractions as a result of the fractional exchange ratio will be compensated by cash payments from VIB Vermögen AG.
After the contract has come into effect, the BBI AG will be obliged to transfer its profits and losses completely to VIB Vermögen AG. In return, the profit and loss transfer agreement includes an annual fixed gross compensation of EUR 0.64 per non-par value share from VIB Vermögen AG for BBI AG shareholders who do not want to accept the compensation offer.
The agreement still has to be approved by both companies' General Meetings. VIB Vermögen AG's General Meeting is to be called for June 25, 2008.
