IMMOEAST Annual Report 2006/07

8.4.8 Remuneration of corporate bodies
The members of the Executive Board receive no separate
remuneration from the company. The remuneration for
the members of the Supervisory Board is as follows:
The members of the Executive Board and Supervisory
Board hold 244,143 shares of stock. There are no options
outstanding on IMMOEAST shares.
8.4.8 Trust loan
The internal financing for the IMMOEAST subsidiaries is handled in part by IMMOFINANZ Corporate Finance Consulting
GmbH at arm’s length interest rate conditions. In addition, the IMMOFINANZ Group provided financing of
TEUR 993,142.2 at arm’s length conditions.
8.4.9 Constantia Immobilien Development GmbH
IMMOEAST granted a loan of TEUR 10,000.0 to Constantia Immobilien Development GmbH during the reporting year.
The interest rate equals 8% and the term is unlimited. The outstanding amount as of the balance sheet date, including
interest, was TEUR 6,898.7.
8.5 Subsequent events
All amounts in TEUR 2006/07 2005/06
Helmut Schwager 30.0 30.0
Wolfgang Reithofer 22.5 22.5
Erhard Schaschl 15.0 15.0
Christian Böhm 15.0 15.0
Herbert Kofler 15.0 15.0
Total 97.5 97.5
8.5.1 Capital transactions
IMMOEAST carried out another largest capital increase in May 2007, which involved the issue of 277,941,375 shares
of bearer stock at a price of EUR 10.20 per share. IMMOFINANZ AG subscribed to 50.46% of this issue and thereby
retained its holding as of 30 April 2007.
8.5.2 Acquisitions
Romania
After the balance sheet date IMMOEAST acquired a 75% stake in Harborside Hotel s.r.l. This project involves the
development and construction of an annex to the Harborside Constanta Phase 1, with a further 15,600 sqm of retail
space and a hotel tower with 12,100 sqm of space. IMMOEAST will initially hold 75% of the shares, and the remaining
25% will be owned by the project developer and site owners. Plans call for IMMOEAST to acquire this minority stake
after the project is completed.
Development also started on the Baia Mare Mall in the north-western region of Romania after 30 April 2007. This
project represents a shopping and entertainment centre with approx. 43.000 sqm of space on two levels. The start
of construction is scheduled for the fourth quarter of 2007 and completion is expected during the fourth quarter of
2008. This development project will be realised through a cooperation between IMMOEAST and a large Hungarian
property company at a total investment volume of EUR 97 million.
IMMOEAST acquired 100% of the shares in S.C. Flash Consult Invest s.r.l. after the end of the 2006/07 financial year.
This company is the owner of the Euromall Shopping Center in Pitesti, Romania, which has roughly 32,000 sqm of
letable space. This facility was completed and opened in May 2007.
Notes
Report by the Executive Board 233
Highlights 2006/07
Business Model and Strategy
Portfolio Structure
Corporate Governance and Outlook
Property Portfolio
Development of Business
Consolidated Financial Statements
Service and Glossary