Scout24, the company behind Germany’s largest real estate marketplace ImmoScout24 has started taking necessary steps to change its legal form into a European Stock Corporation (Societas Europaea, SE).
Scout24 AG announced on Monday (March 1) that it will start changing legal form to Scout24 SE in preparation for stockholders’ Annual General Meeting scheduled on July 8, 2021.
Stockholders will be deciding on the measure that is intended to underline Scout24’s positioning as a future-oriented European technology company.
Changing legal form will make Scout24 SE supranational, a European legal form that is an excellent fit for a modern and internationally oriented company with an international employee structure.
With the changing of the legal form, shareholders of Scout24 AG automatically become shareholders of Scout24 SE. Shareholder rights or financial reporting will also not be affected by the conversion.
Scout24, one of the leading digital companies in Germany behind the digital real estate marketplace ImmoScout24, in its latest press statement stressed the previous structure of the separation of the supervisory board and the management board will not be affected by the change and will remain in place.
“The change of legal form is not expected to have any effects on the customers and employees of Scout24 AG. The registered office of the company will remain in Munich,” the company statement said.
Despite challenges posed by the pandemic last year which affected its business real estate and media segments, Scout24 has been profitable in 2020 posting a 1.2% increase in revenues year-on-year amounting to EUR 353.8 million compared to 2019’s EUR 349.7 million revenues.
The 20-year-old company connects homeowners, real estate agents, tenants, and buyers to its13.8 million users through ImmoScout24, the market leader for digital real estate listing and search in Germany and Austria. It is a listed stock corporation (ISIN: DE000A12DM80, Ticker: G24) and a member of the MDAX and the DAX50 ESG.