DGAP-Adhoc: Prime Office REIT-AG: Claus Hermuth no longer CEO - boards propose to suspend dividend payment - merger negotiations with OCM continue

Prime Office REIT-AG / Key word(s): Change of Personnel/Dividend

28.06.2013 18:58

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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During today's meeting, the supervisory board of Prime Office REIT-AG,
Munich, decided to discharge the CEO of the company, Mr Claus Hermuth, from
his duties effective immediately. Discussions in view of amicably
terminating his employment contract will commence shortly.

The CFO of the company, Mr Alexander von Cramm, will manage the business of
the company until a successor for Mr Hermuth has been found.

The current talks on a merger with OCM German Real Estate Holding AG (OCM),
Cologne, will be continued. At the moment, the companies are in the process
of calculating the corporate values required to determine the exchange
ratio. However, the necessary draft merger agreement and the extensive
supporting documentation cannot be finalised until the regular annual
general meeting on 21 August 2013, invitations to which will be issued
shortly.

The executive board and the supervisory board decided against proposing a
dividend to the annual general meeting in order to strengthen the company's
equity. Instead, the balance sheet profit in the amount of appr. EUR 14.7
million are to be retained. This will enable the company to propose the
distribution of a special dividend during an extraordinary general meeting
in the autumn, if the operating business develops in line with expectations
and particularly if the planned property sales are concluded successfully.
This general meeting could also vote on the approval of the merger with
OCM.

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Language: English
Company: Prime Office REIT-AG
Hopfenstraße 4
80335 München
Germany
Phone: +49 (0)89 7104090 40
Fax: +49 (0)89 7104090 99
E-mail: richard.berg@prime-office.ag
Internet: www.prime-office.ag
ISIN: DE000PRME012
WKN: PRME01
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), München,
Stuttgart; Freiverkehr in Berlin, Düsseldorf

End of Announcement DGAP News-Service

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