Announcement

TAG Immobilien AG: Supervisory Board of TAG Immobilien commissions external audit by PwC

TAG Immobilien AG / Key word(s): Miscellaneous17.10.2013 / 13:52PRESS RELEASESupervisory Board of TAG

TAG Immobilien AG: Supervisory Board of TAG Immobilien commissions external audit by PwC


TAG Immobilien AG / Key word(s): Miscellaneous

17.10.2013 / 13:52


PRESS RELEASE

Supervisory Board of TAG Immobilien commissions external audit by PwC

Hamburg (17 October 2013) - The Supervisory Board of TAG Immobilien AG, Hamburg ('TAG') today commissioned the PricewaterhouseCoopers AG Wirtschaftsprüfungsgesellschaft ('PwC') to investigate the allegations made against TAG Immobilien AG and its CEO Rolf Elgeti. It was claimed that in the past, business transactions had been made to the disadvantage of TAG. Beyond this, potential conflicts of interest were alleged, between the private business activities of the Chairman of the Board, Mr Rolf Elgeti, and those of TAG.

After careful consideration, the Supervisory Board has therefore decided to commission the internationally renowned and independent auditing firm PwC to review the aforementioned transactions, and in particular to determine whether the principles of corporate governance were complied with.

The Supervisory Board reiterates that Mr Rolf Elgeti continues to enjoy its full and complete trust and confidence.

The Supervisory Board will inform the shareholders and the general public of the result once the findings of the review are in.

Press enquiries:
TAG Immobilien AG
Head of Investor & Public Relations
Dominique Mann
Phone +49 (0) 40 380 32 300
Fax +49 (0) 40 380 32 390
pr@tag-ag.com



End of Corporate News


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Language: English
Company: TAG Immobilien AG
Steckelhörn 5
20457 Hamburg
Germany
Phone: 040 380 32 0
Fax: 040 380 32 390
E-mail: ir@tag-ag.com
Internet: www.tag-ag.com
ISIN: DE0008303504, XS0954227210
WKN: 830350, A1TNFU
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), München; Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, Stuttgart
End of News DGAP News-Service

235070  17.10.2013