The new registered shares of Novavest Real Estate issued as part of the merger are traded for the first time today on the SIX Swiss Exchange.
The merger between Novavest Real Estate AG and SenioResidenz AG was successfully completed by its registration in the commercial register on Friday June 14, 2024. The new registered shares of Novavest Real Estate AG (“Novavest”) issued as part of the merger are traded for the first time today, June 17, 2024, on the SIX Swiss Exchange. The new merged company has a real estate portfolio with a market value of 1.02 billion francs, with theoretical rental income of 42.6 million francs and a residential share of theoretical rents of 59% (pro-basis). format 2023).
On May 28 and 29, 2024, the extraordinary general meetings of SenioResidenz AG and Novavest Real Estate AG approved the merger and the merger agreement by a large majority, and approved all proposals of the respective boards of directors.
As part of the merger, 2,325,479 new Novavest registered shares with a par value of 22.75 francs each were issued through the ordinary capital increase and listed on today’s date. The commercial register and the company’s statutes already reflect these new registered shares resulting from the ordinary capital increase, so that the number of registered shares registered in the commercial register amounts to 10,036,913 as of 14 June 2024.
It is also necessary to issue 134,002 Novavest registered shares with a nominal value of 22.75 francs each, created from the conditional capital of Novavest and necessary for the conversion of the 3.50% SenioResidenz 2024 compulsory conversion loan included in the framework of merger by absorption. These registered shares are already formally listed on the SIX Swiss Exchange and the execution by exchange to the former bond holders will take place today, June 17, 2024. The corresponding entry in the commercial register of these registered shares from the conditional capital is scheduled for August 2024.
Zurich Kantonal Bank supported the transaction as Financial Advisor. The prospectus in connection with the merger and the newly issued registered shares was published today and can be obtained free of charge from the Zurich Kantonal Bank.
On the date of execution of the merger, the board of directors of Novavest is now composed as follows: Thomas Sojak (chairman), Stefan Hiestand (member of the audit committee), Daniel Ménard (member of the remuneration committee) , Floriana Scarlato (member of the audit committee), Dr. Claudia Suter (member of the remuneration committee). The management consists of Peter Mettler (CEO) and Patrick Hauser (CFO).
