PREOS Global Office Real Estate & Technology AG: Postponement of negotiations with Thomas Olek about CEO position at PREOS - Olek takes over consulting position for publity Group - Stephan Noetzel new member of Executive Board

Press Release

PREOS Global Office Real Estate & Technology AG: Postponement of negotiations with Thomas Olek about CEO position at PREOS - Olek takes over consulting position for publity Group - Stephan Noetzel new member of Executive Board
 

- Negotiations on the takeover of the CEO position of PREOS by Thomas Olek postponed

- Thomas Olek assumes consulting role for entire publity Group in the area of Big Data real estate analysis

- Stephan Noetzel new on Executive Board as Chief Operating Officer (COO) of PREOS

- Renewed issue of bonus shares instead of cash dividend in 2021 and postponement of cash capital increase for January 2021 under consideration

Leipzig, 28.12.2020 - The Supervisory Board of PREOS Global Office Real Estate & Technology AG ("PREOS", ISIN DE000A2LQ850, m:access) and Thomas Olek, CEO of publity AG, have agreed today to postpone negotiations on Olek assuming the position of CEO of PREOS. For the time being, Olek will assume the function of advisor for the entire publity Group as of 1 January 2021. In doing so, he will focus on strengthening the areas of big data real estate analysis and internationalisation, which have been identified as key success factors for the further growth of the companies in the publity Group.

Meanwhile, the PREOS Group has expanded its Executive Board team: By resolution of 16.11.2020, the Supervisory Board appointed the lawyer Stephan Noetzel as a further member of the PREOS Executive Board alongside Frederik Mehlitz. Noetzel has assumed the position of Chief Operating Officer (COO) on the Executive Board as of 01.12.2020. Previously, he was Head of NPL Services at publity AG.

Regardless of recent developments, Olek's demands connected to his commitment to PREOS are to be maintained. Instead of a cash dividend for the 2020 financial year, a resolution is to be proposed to the Shareholders' Meeting in 2021 again to issue bonus shares. Additionally, the 10% cash capital increase under consideration is to be maintained. However, this is not expected to be in January 2021, but at a later date in 2021. For the long term, PREOS still plans to develop its share into a dividend stock with a target of 5% of the share price.

Press Contact:

Financial Press and Investor Relations:
edicto GmbH
Axel Mühlhaus
Phone: +49 69 905505-52
Mail: preos@edicto.de

About PREOS Global Office Real Estate & Technology AG

PREOS Real Estate & Technology AG ("PREOS") is an active real estate investor focused on office properties. PREOS acts as an efficient management holding company. The acquisition focuses on office properties with development potential in German metropolitan regions. Value creation is generated by targeted asset management measures. Developed portfolio properties are sold in the event of adequate sales opportunities. The corporate strategy is to significantly expand the real estate portfolio through acquisitions in the coming years. The PREOS share (ISIN DE000A2LQ850) is listed in the over-the-counter segment m:access of the Munich Stock Exchange (PAG.MU) and on Xetra (PAG.DE). The company headquarters of PREOS is located in Leipzig.