Vienna Insurance Group AG Wiener Versicherung Gruppe starts invalidation procedure

Implementing the mandatory provisions of the Austrian Act amending Corporate Law (Gesellschaftsrechtsänderungsgesetz/GesRÄG) 2011, Vienna Insurance Group AG Wiener Versicherung Gruppe has commenced an invalidation procedure with regard to its shares that are represented by paper certificates. By decision dated 16 August 2012 Commercial Court Vienna authorised the procedure.

The holders of physical share certificates and interim certificates that are still outstanding at the moment have to return the same to a bank for exchange for bearer shares held in custody by 14 December 2012 (this also concerns shares kept safe in individual securities accounts). Erste Group Bank AG, Vienna, is the depositary agent. Share certificates not submitted for exchange by the end of the period will be declared void. Thereafter shareholders will be able to exercise rights under those shares only if they have exchanged the same for shares held in custody.

Shareholders whose share certificates have been declared void after expiration of the period may submit those certificates to Erste Group Bank AG for an unlimited period of time and will be given bearer shares held in custody in return.

Zdroj: Vienna Insurance Group AG