Vonovia completes its proposal on board composition to the extraordinary general meeting in Hembla on 15 November 2019

On 22 October 2019, Hembla AB (publ) (“Hembla”) issued a notice convening an extraordinary general meeting on 15 November 2019. The extraordinary general meeting was demanded by Hemblas previous main shareholder Blackstone, following a request from Vonovia SE as Vonovia SE, through its indirectly wholly-owned subsidiary HomeStar InvestCo AB (“Vonovia”), had entered into an agreement to acquire all of Blackstone’s shares in Hembla. Vonovia has now completed its proposal on board composition to the extraordinary general meeting in Hembla on 15 November 2019.

Vonovia’s proposal is that the board shall consist of six board members. It is further proposed that the board members which have represented Blackstone, i.e. the chairman of the board of directors James Seppala and the board members Melissa Pianko and Donatella Fanti, are replaced by Rolf Buch, Helene von Roeder and Per Ekelund, for the time until the end of the next annual general meeting. The current board members Patrick Forslund, Fredrik Brodin and Karolina Keyzer, which form the independent bid committee, are proposed to remain as members of the board in Hembla. Vonovia further proposes that Rolf Buch is elected as chairman of the board of directors.

Information regarding the proposed board members is available at Hembla’s website, www.hemblagroup.se/en/, including the nomination committee’s motivated opinion regarding Vonovia’s proposals.

Hembla further notes that Vonovia, today on 8 November 2019, has published the complete offer document regarding the ongoing mandatory cash offer for the shares in Hembla.

Stockholm on 8 November 2019
Hembla AB (publ)
The board of directors

For further information, please contact

Svein Erik Lilleland, CEO, Telephone: +46 (0) 8 121 317 25, E-mail: sel@hembla.se

The information was released for publication on 8 November 2019 at 17.30(CET).