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Aareal Bank: Board Fully Staffed With Its Members, Demand By Petrus Without Any Sub…

(RTTNews) – Aareal Bank AG (AAALF.PK) said its Supervisory Board has rejected the demand by Petrus Advisers Ltd for a partial replacement of Supervisory Board members. The Supervisory Board said it is fully staffed with all of its members being elected for their respective term of office, and there are no reasons for resignation.

Marija Korsch, Chairman of the Supervisory Board, noted: “As in the past, upon
regular expiration of each term of office for any shareholder representative, the Nomination Committee will launch a broad-based, clearly structured and transparent search process to identify candidates. As a matter of course, the Committee will include candidates proposed by material investors, as it did in 2019/2020.”

Petrus has called for the resignation of three current Supervisory Board members, in
order to make room for three replacement candidates proposed by Petrus, to
be elected at the Ordinary Annual General Meeting on 18 May.

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