Tag Immobilien – AGM 22 May 2020
General: The AGM is to be held in the form of a virtual AGM in accordance with the German Law to Mitigate the Consequences of the COVID-19 Pandemic. The physical presence of shareholders or their authorised proxies is not possible. The voting rights may therefore be exercised solely by postal vote or by granting authority to the proxies designated by the Company.
TAG Immobilien is a Hamburg-based property company focused on the German residential real estate sector. The properties owned are located in various regions of Northern and Eastern Germany and North Rhine-Westphalia, and, starting in financial year 2020, in Poland as well. Overall, as of 31 December 2019, TAG Immobilien managed around 84,500 residential units.
The Company has issued 146,498,765 shares that amount to a share capital of EUR 146,498,765. As of 31 March 2020, Massachusetts Financial Services Company held 9.9%, The Capital Group Companies Inc. held 9.6%, BlackRock Inc. held 6.2%, Flossbach von Storch AG held 5.2%, BayernInvest Kapitalverwaltungsgesellschaft mbH held 4.9% and Versorgungsanstalt des Bundes und der Länder held 4.7% of the Company's shares.
In financial year 2019, gross rental income increased by 1.3% to EUR 405.5m, EBIT decreased by 2.1% to EUR 624.9m, net income attributable to the shareholders of TAG Immobilien AG decreased by 7.2% to EUR 446.3m and Funds from Operations I (FFO I) increased by 9.6% to EUR 160.6m.
Agenda: We have no concerns over the agenda items at this year's AGM.
TAG Immobilien is engaged in the acquisition, development and management of residential real estate as well as property sales. Co. operates within two segments: residential and commercial. Co.'s residential property portfolio is concentrated in the regions of Thuringia / Saxony, the greater metropolitan areas of Berlin and Hamburg, and the Salzgitter and North Rhine-Westphalia regions while its commercial portfolio is situated in locations such as Hamburg, Berlin and Munich. As of Dec 31 2013, Co.'s portfolio consisted of 70,587 units and comprised of 4,582,344 sq. m. of floor area.
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