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- Mobimo Holding AG: Mobimo establishes a new business area and expands its Executive Board
May 5, 2011
Mobimo Holding AG: Mobimo establishes a new business area and expands its Executive Board
Mobimo Holding AG / Key word(s): Miscellaneous 05.05.2011 06:55 Release of an ad hoc announcement pursuant to Art. 72 KR --------------------------------------------------------------------------- M e d i a R e l e a s e Mobimo establishes a new business area and expands its Executive Board Lucerne/Küsnacht, 5 May 2011 - Mobimo will expand its development activities from the start of 2012 as part of its existing strategy. The company will be adding the new business area 'Investments for Third-Parties' to its current activities, namely the development and sale of residential property and the development of its proprietary investment portfolio. The new business area will enable Mobimo to provide development services as well as ready-for-use real estate property to institutional investors. Due to the lack of investment opportunities in existing real estate properties, many institu-tional investors are being driven into the development of real estate. In general, these in-vestors do not have the personnel or specialist resources for new construction or renova-tions of real estate. Pension funds, life insurance companies and other real estate investors prefer to invest in properties that have already been built and rented. Mobimo will position itself as an independent partner for selected investors, providing them with investment op-portunities. Mobimo will focus on project development and will not act as a general contrac-tor. The new business area will be headed by Thomas Stauber, who is also joining the Executive Board of Mobimo. He will take up his new position on 1 November 2011. Thomas Stauber is currently the head of acquisition and project development and member of the Executive Board at Allreal Generalunternehmung AG. Mr Stauber, 46, has a degree in civil engineering from the Swiss Federal Institute of Technology (ETH Zurich), with post-graduate studies in product and business administration. For enquiries please contact: Mobimo Holding AG Dr. Christoph Caviezel, CEO +41 44 397 11 86 ir@mobimo.ch About Mobimo Mobimo Holding AG was established in Lucerne in 1999 and has been listed on the SIX Swiss Ex-change since 2005. The Mobimo Group has an attractive portfolio mix of investment properties pro-viding stable income and development properties offering extensive value enhancement potential. Investments are targeted mainly in the promising locations of Zurich and Lausanne/Geneva and in the economic regions of Basel, Lucerne/Zug, Aarau and St. Gall. With a property portfolio that has an overall value of over CHF 2.0 billion, Mobimo is one of the leading real estate companies in Swit-zerland. The portfolio contains development properties with an investment volume of more than CHF 1 billion up to 2015 (as at 31 December 2010). 05.05.2011 News transmitted by EquityStory AG. The issuer is responsible for the contents of the release. EquityStory publishes regulatory releases, media releases on the capital market and press releases. The EquityStory Group distributes authentic and real-time financial news for over 1'300 listed companies. The Swiss news archive can be found at www.equitystory.ch/news ---------------------------------------------------------------------------