Zurich (awp) – Novavest’s main shareholder, MV Immoxtra Schweiz Fonds, is calling an extraordinary general meeting on Wednesday through financial services provider Caceis to remove chairman Thomas Sojak and two other directors. “Dismayed by the company’s trajectory”, the stakeholders feel obliged to act in the interest of all shareholders.
Also affected by requests for dismissal are Stefan Hiestand and Daniel Ménard, underlines Novavest in a press release. In exchange, Caceis Switzerland offers the election of Cyrill Schnweuwli as president, as well as Ueli Kehl and Roland Vögele.
In a separate publication, the recalcitrant shareholder cites an unsatisfactory price performance in comparison with other companies listed on SIX, instilling distrust in its representatives towards management. MV Immoxtra also still doubts the benefits of the announced merger with Senioresidenz
Caceis (Switzerland) has according to the most recent information 12.01% of the share capital of Novavest on behalf of MV Immoxtra Schweiz Fonds.
The proposed union announced at the start of the year between Novavest Real Estate and Senioresidenz took shape in mid-June. The new entity has a portfolio valued at 1.02 billion Swiss francs on this date, presenting theoretical rental income of 42.6 million, as well as a residential share of theoretical rents of 59%.
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