Brief: Flughafen Wien Management Board Advises Shareholders Not To Accept Purchase Offer Of IFM Global Infrastructure Fund

Flughafen Wien AG

17/08/2022 07:52

Aug 17 (Reuters) - FLUGHAFEN WIEN AG  VIEV.VI :
    * MANAGEMENT BOARD OF FLUGHAFEN WIEN AG ADVISES SHAREHOLDERS
NOT
TO ACCEPT THE PURCHASE OFFER OF IFM GLOBAL INFRASTRUCTURE FUND
    * MANAGEMENT BOARD OF FLUGHAFEN WIEN AG ADVISES SHAREHOLDERS
NOT
TO ACCEPT PURCHASE OFFER OF IFM GLOBAL INFRASTRUCTURE FUND
    * BOARD'S OPINION WAS REVIEWED AND POSITIVELY ASSESSED BY AN
EXPERT APPOINTED BY COMPANY AND UNANIMOUSLY ADOPTED BY
SUPERVISORY BOARD OF FWAG
    * SUPERVISORY BOARD FULLY CONCURS WITH STATEMENT MADE BY
MANAGEMENT BOARD.
    * IN OPINION IT ISSUED, MANAGEMENT BOARD PROVIDES EXTENSIVE
EXPLANATIONS WHY PROPOSED PURCHASE PRICE OF EUR 33 PER SHARE IS
DEEMED AS BEING TOO LOW IN LIGHT OF EXPECTED FURTHER POSITIVE
DEVELOPMENT OF WELL-PERFORMING COMPANY
    * MANAGEMENT BOARD SEES DANGER THAT AN ACCEPTANCE OF OFFER
WILL
FURTHER REDUCE LIQUIDITY AND THUS TRADABILITY OF SHARE
    * MANAGEMENT BOARD POINTS OUT THAT OFFER OF EUR 33 PER SHARE
LESS
EXPECTED DIVIDEND OF EUR 0.75/SHARE FOR 2022, IS NOT ONLY 5%
BELOW LOWEST CLOSING PRICE OF 2019 BUT ALSO ABOUT 20% UNDER
HIGHEST CLOSING PRICE IN YEAR 2019

Source text for Eikon:  ID:nEQ7RZhgXa 
Further company coverage:  VIEV.VI 

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