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Novavest's Board of Directors is resisting demands from minority shareholder Caceis, representing the MV Immoxtra Switzerland Fund, to replace three board members, citing potential harm to the company's strategic objectives following its recent merger. The fund, holding a 15.24% stake, criticizes the company's share price performance and seeks to install its own candidates at the upcoming extraordinary general meeting. The Board emphasizes the importance of stability during this transitional phase to ensure the successful implementation of merger synergies.
Novavest Real Estate's largest shareholder, holding a 15.24% stake, is pushing for the removal of three board members due to unsatisfactory share price performance and a loss of confidence in management. Proposed replacements include experienced figures from the financial and real estate sectors, aiming to enhance corporate governance and protect shareholder interests. The board is currently reviewing the demand and will respond accordingly.
Cyrill Schneuwly
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
novavest board dispute escalates as minority shareholder demands major changes
Caceis
SenioResidenz AG
Novavest Real Estate AG
CHE
Stefan Hiestand
Daniel Ménard
Thomas Sojak
Cyrill Schneuwly
Roland Vögele
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10:11 15.11.2024
novavest real estate faces board shakeup amid shareholder discontent over stock performance
Swiss Franc
Peach Property Group AG
CACEIS (Switzerland) SA
Neue Immo AG
Credit Suisse Investment Partners
Aargauische Kantonalbank
CHE
Ueli Kehl
Stefan Hiestand
Daniel Ménard
Thomas Sojak
Cyrill Schneuwly
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11:54 14.11.2024
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