2006
Since 3 February 2006, shares in Bau-Verein zu Hamburg AG have been listed in the Prime Standard segment.

In March 2006, a cash equity issue comprising 4 million shares is placed in full with investors, raising a total of € 19 million for Bau-Verein. The number of shares increases from 16,939,994 to 20,939,994 no-par-value shares. The newly issued shares are entitled to the full dividend from 1 January 2006.

Principal shareholder TAG waives the exercise of part of its preemptive subscription rights when it restructures its portfolio and sells 1,100,000 shares to a British institutional investor. This significantly increases Bau-Verein´s free float and improves the long-term liquidity and tradability of the share. TAG now holds 68% of the share capital in Bau-Verein zu Hamburg AG, the free float is 32%.

Resolutions passed at the annual general meeting mean that registration of the equity issue with the company register is executed on 10 August 2006 for allocation of bonus shares in a ratio of one for nine. Since then, the number of shares has increased to 23,266,660.

The free float stands at 29% in September 2006, with TAG holding the remaining 71%.

2005
In view of the changes and perspectives in the German property market, the Bau-Verein is now focusing on investment property. A joint venture with conwert Immobilien AG, Vienna, underscores this approach. The joint project company GAG Grundstücksverwaltungs AG is to be expanded to form an apartment portfolio company. After the measures have been implemented, the portfolio will include a total of 1,100 units. conwert AG holds a stake of around 75% in the subsidiary of Bau-Verein zu Hamburg AG. Bau-Verein is responsible for the development, construction and long-term administration of the portfolio.

In September, a share split is executed. Since then, the share capital in the Bau-Verein zu Hamburg AG amounting to € 50,819,982 comprises 16,939,994 no-par-value shares with a nominal value of € 3.00 per share. From 10 October, the share is listed on the official market of the Frankfurt and Hamburg stock exchanges.

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