Deutsche Wohnen AGM Approves All Motions Put By Management And Supervisory Boards

Residential property company Deutsche Wohnen SE (DWHHF.PK) said that all of the motions put by the Management and Supervisory Boards were passed with a large majority at its annual general meeting. The meeting took place in a virtual format for the second time due to the pandemic.

The AGM decided on a dividend payment in the amount of 1.03 euros per share for the financial year 2020 after it had voted in favour of a reduced dividend last year to enable the Corona relief fund to be set up. In addition, Florian Stetter was appointed once again to the Supervisory Board of the company.

On 24 May, Vonovia SE and Deutsche Wohnen SE signed an agreement to combine the two companies. Vonovia will launch a voluntary public takeover offer for all outstanding shares in Deutsche Wohnen.

Deutsche Wohnen Shareholders will receive a total of 53.03 euros, consisting of an offer price of 52.00 euros in cash per share and a cash dividend of 1.03 euros per Deutsche Wohnen share.

The Management and Supervisory Boards of Deutsche Wohnen support the offer made by Vonovia. Both bodies are assuming that - pending a careful examination of the documentation for this offer -they will recommend to the shareholders that they accept.

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