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TLG Immobilien: Court Dismiss Action Brought By Outside Shareholders Of WCM

German real estate company TLG Immobilien AG announced Monday that the district court of Frankfurt/Main has dismissed the action brought by outside shareholders of WCM Beteiligungs- und Grundbesitz-Aktiengesellschaft concerning the control agreement. The action concerning the guaranteed dividend and the size of the settlement has been dismissed.

The Court has confirmed the adequacy of the guaranteed dividend of 0.11 euro per share, which was agreed for all minority shareholders of WCM in the control agreement, as well as the adequacy of the settlement offer of one no-par value bearer share of TLG Immobilien for every 5.75 shares of WCM.

The company noted that all outside shareholders of WCM still have the opportunity to make use of the offer and exchange their WCM shares for TLG IMMOBILIEN shares through their custodian bank.

The newly created TLG IMMOBILIEN shares will be fully entitled to dividends for 2019.

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