TTL BETEILIGUNGS- UND GRUNDBESITZ-AG
DGAP-News: TTL Beteiligungs- und Grundbesitz-AG
/ Key word(s): AGM/EGM/Dividend
Munich, 26.09.2019 Extraordinary Shareholders' Meeting of TTL AG approves tax-free special dividend of Euro 0.12 per share
The Extraordinary General Meeting of TTL Beteiligungs- und Grundbesitz-AG ("TTL", "TTL AG") (ISIN DE0007501009) resolved on 26 September 2019 to distribute a tax-free special dividend of Euro 0.12 per share. This corresponds to a dividend yield of 4.4 percent, based on the closing price of the TTL share on August 16, 2019, which is the day of the invitation to the extraordinary shareholders' meeting. Thus, the holding company, which focuses on the commercial real estate market, lets its shareholders participate in the successful sale of the GEG German Estate Group in June of this year. Together with the dividend of Euro 0.12 already paid in May, this results in a total dividend yield of 8 percent based on the closing price of the TTL share on December 28, 2018.
At the Extraordinary General Meeting, TTL presented its future investment strategy. "We want to broaden TTL AG's investment portfolio. Therefore, we are investing both in listed high-dividend real estate companies and in privately held real estate companies. We are also planning direct investments in real estate and real estate projects. We have laid the foundations for this over the past few months, important steps have been taken and initial investments have already been made," explains Theo Reichert, CEO of TTL AG. The TTL Group increased its stake in DIC Asset AG by acquiring one million DIC shares in August and September of this year. In addition, TTL has already invested in another listed commercial real estate company, which is characterized by an attractive dividend yield and a currently still high NAV (Net Asset Value) discount. This investment is below the 3 percent reporting threshold. TTL will implement its investments in privately held real estate companies and direct real estate investments via its asset management platform newly established with the Rockstone Real Estate Group. This will also provide part of the financing in the form of mezzanine capital. The investment focus is on value add and development projects in the commercial real estate market in Germany. The asset management platform is to be launched at Expo Real on 7 October 2019.
With a presence of 67.99 % the shareholders at the Extraordinary General Meeting in Munich voted with more than 99.99 % in favor of the proposed resolution. All relevant documents relating to the Extraordinary General Meeting of TTL Beteiligungs- und Grundbesitz-AG on September 26, 2019 are available on the company's website at https://www.ttl-ag.de/de/investor-relations/hauptversammlung.html.
Annette Kohler-Kruse
26.09.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | TTL Beteiligungs- und Grundbesitz-AG |
| Theresienhöhe 28 | |
| 80339 München | |
| Germany | |
| Phone: | +49 (0)89 381611-0 |
| Fax: | +49 (0)89 3915-92 |
| E-mail: | ir@ttl-ag.de |
| Internet: | www.ttl-ag.de |
| ISIN: | DE0007501009 |
| WKN: | 750100 |
| Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 880653 |
| End of News | DGAP News Service |
880653 26.09.2019
