FRORIEP advised stock exchange listed Novavest Real Estate AG (Ticker: NREN) on share capital reduction in lieu of dividends as well as on a share capital increase
27 June 2017
On 29 March 2017, the ordinary annual shareholders' meeting of Novavest Real Estate AG approved a share capital reduction by way of a tax exempt nominal value repayment of CHF 1.05 per share. Furthermore, the ordinary annual shareholders' meeting approved an ordinary share capital increase of up to CHF 30.3 million through issuance of up to 911'178 additional shares which was oversubscribed by existing shareholders and new investors.
FRORIEP Legal AG acted as Novavest Real Estate AG's legal counsel for all legal work in connection with the ordinary annual shareholders' meeting, the share capital reduction and the subsequent share capital increase, including the listing of the new shares.
The FRORIEP team consisted of partner Dr. Catrina Luchsinger Gähwiler and senior associate Dr. Mark Montanari (Corporate, Capital Markets, including stock exchange regulations) as well as partner L. Mattias Johnson and senior associate Evelien Zemp (Corporate, Notarial Services).