DGAP-Adhoc: MAGNAT Real Estate AG: Andreas Steyer to become new Speaker of the Management Board - Extraordinary General Meeting to resolve renaming of the Company

MAGNAT Real Estate AG / Key word(s): AGM/EGM

16.05.2013 15:02

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

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Frankfurt am Main, May 16, 2013 - The Supervisory Board of MAGNAT Real
Estate AG ('MAGNAT', ISIN DE000A0XFSF0) has appointed Hon. Prof. Andreas
Steyer (48) as the new Speaker of the Management Board (CEO) effective
immediately. In this position, Andreas Steyer will be primarily responsible
for the market division of the Company. He has been a member of Management
Board of the Company since March 2013. The business administration graduate
and real estate economist possesses excellent know-how and extensive
experience in the real estate industry. Among others he was a partner at
Arthur Andersen Real Estate as well as at Ernst & Young Real Estate and
thereafter became Managing Director at Deka Immobilien Investment GmbH. In
recent years, Mr. Steyer has been the Head of Real Estate and Speaker of
the Management Board of VB Real Estate Services for the Österreichische
Volksbank AG. Jürgen Faè, the second member of the Company's Management
Board, will remain as CFO and continue to be responsible for the finance
division.

Today, the Company's Management Board has decided to convene an
Extraordinary General Meeting of the Company which shall take place on June
27, 2013 in Frankfurt. At this meeting, both the Management Board and the
Supervisory Board will propose a change in name of the Company and a
corresponding amendment to the Articles of Association. The Company's new
name should be 'DEMIRE Deutsche Mittelstand Real Estate AG'. The new name
should reflect the resolved change in the future direction of the Company
which will geographically focus in the future on Germany.

In addition, at the Extraordinary General Meeting, the Management Board and
the Supervisory Board of the Company will propose a reduction in the number
of Supervisory Board members from six to three. It will also be proposed
that Prof. Dr. Hermann Anton Wagner, who is already a member of the
Supervisory Board by court order, to be elected to the Company's
Supervisory Board until the Annual General Meeting which resolve on the
fiscal year ending on March 31, 2016. Prof. Dr. Werner Schaffer as Chairman
and Dr. Carsten Strohdeicher continue to be members of the Supervisory
Board of the Company.

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Language: English
Company: MAGNAT Real Estate AG
Lyoner Straße 32
60528 Frankfurt am Main
Germany
Phone: +49 (0)69 / 719 189 79 0
Fax: +49 (0)69 / 719 189 79 11
E-mail: info@magnat.ag
Internet: www.magnat.ag
ISIN: DE000A0XFSF0
WKN: A0XFSF
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin, Stuttgart

End of Announcement DGAP News-Service

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