Zurich, 21 April 2016 – The shareholders of Peach Property Group AG, an investor specialising in the management of residential property in German, approved all proposals submitted by the Board of Directors with clear majorities at the today’s Annual General Meeting. Overall, 48 percent of the company’s voting capital was represented at the meeting.
Among others, the real estate and financial expert Reto A. Garzetti (56) was re-elected as President of the Board of Directors for the duration of one year. Also the other two members of the Board nominated for re-election, Peter E. Bodmer and Dr. Christian De Prati, were re-elected for one-year terms of office.
The shareholders also approved a resolution not to pay a dividend for the financial year 2015 in order to focus the Group on further growth in its core business. In this respect, a total of 800 apartments were already acquired in three portfolio transactions earlier this year.
More detailed information on the resolutions adopted by the Annual General Meeting of Peach Property Group AG is available on the Company’s website at www.peachproperty.com
Contacts:
Media, investors and analysts
Dr. Thomas Wolfensberger, Chief Executive Officer and Dr. Marcel Kucher, Chief Financial Officer
+41 44 485 50 00 | investors@peachproperty.com
Media Germany
edicto GmbH, Axel Mühlhaus, Peggy Kropmanns
+49 (0) 69 90 55 05 52 | amuehlhaus@edicto.de
About Peach Property Group AG
Peach Property Group is a property investor and developer focused on investments in Germany and Switzerland. The Group stands for long time experience, competence and quality. Innovative solutions for modern housing needs, strong partnerships and a wide value chain complete the profile of the Group. The portfolio consists of an increasing number of high yield investment properties, typically in B-cities in close reach to metropolitan areas. In addition, the Group develops properties for its own portfolio or for the sale as condominium. Developments for sale focus on A-locations and encompass attractive architecture and high level furnishing for an international clientele. The business activities of the Group cover the entire value chain, from property acquisition and site selection to active asset management and finally to the sale or lease of properties.
Peach Property Group AG is headquartered in Zurich and has its German Group headquarters in Cologne. Peach Property Group AG is listed on the SIX Swiss Exchange (PEAN, ISIN CH0118530366).
For more information, see www.peachproperty.com