DGAP-News: Capital Increase of DIC Asset AG Successfully Completed

| Source: EQS Group AG
DGAP-News: DIC Asset AG / Key word(s): Capital Increase
Capital Increase of DIC Asset AG Successfully Completed

28.11.2013 / 11:58


Press Release
This information is not intended for publication in the United States of
America, Canada, Japan or Australia.

Frankfurt am Main, 28 November 2013. 

Capital Increase of DIC Asset AG Successfully Completed 

  - Gross issuance proceeds of approx. EUR 100 million 

  - Subscription rate of 98.95 percent 

  - Höller: 'Investors are showing their faith in the corporate strategy.' 

DIC Asset AG (WKN A1X3XX / ISIN DE000A1X3XX4) successfully completed its
capital increase. 98.95 percent of the subscription rights were exercised
by the holders of such rights, who subscribed for 16,450,729 new shares at
a subscription price of EUR 6.00 per new share. The 202,203 remaining new
shares not subscribed on the basis of the subscription offer were sold.

The Company's share capital increased by 16,652,932 new shares within the
framework of the cash capital increase generating gross issue proceeds of
approx. EUR 100 million for the Company. Another 6,206,068 shares were
issued against contribution in kind for the purpose acquiring and
integrating the 'UNITE' portfolio. The issuance of 22,859,000 new shares
increases the Company's share capital to EUR 68,577,747. The new shares are
scheduled to be included in the existing quotation of DIC Asset AG at the
Frankfurt Stock Exchange on 29 November 2013. The issue proceeds of the
cash capital increase will mainly be used to optimise the financing
structure of the 'UNITE' portfolio, which was acquired via the capital
increase against contribution in kind, and for general corporate purposes.

The integration and acquisition of the 'UNITE' portfolio with an aggregate
portfolio market value of EUR 481 million will enable the Company to
further reduce its leverage level in the coming years, mainly through
property disposals, without falling short of a minimum portfolio size that
is viable from a capital and real estate market perspective. The
acquisition of the 'UNITE' portfolio will increase the volume of direct
holdings of DIC Asset AG ('Commercial Portfolio') up to around EUR 2.3
billion. DIC Asset AG thus pursues its strategic course of positioning
itself as a direct commercial real estate holder whilst reducing its
joint-venture exposure. At the same time, the transaction helps the Company
to streamline its corporate structures. As part of its strategic road map,
the Company plans to gradually reduce its leverage to a loan-to value (LTV)
ratio of below 60 per cent by 2016. This will primarily be facilitated by
property sales projected to amount to approx. EUR 450 million from the
entire Commercial Portfolio of DIC Asset AG, by recurring portfolio income,
and the continued growth of the fund business, by the results of project
developments realised, and the repayment of existing shareholder loans to a
large extent.

Deutsche Immobilien Chancen Group as largest shareholder of DIC Asset AG
participated in the cash capital increase via a so-called 'opération
blanche' and continues to hold a share of some 33 percent in the Company
post transaction. Deutsche Immobilien Chancen Group intends to retain its
stake in the Company as a strategic long-term equity investment.

In their role as joint bookrunners, Bankhaus Lampe KG and Commerzbank AG
agreed vis-à-vis DIC Asset AG to acquire the new shares from the cash
capital increase at a subscription price of EUR 6.00, offer the shares to
the existing shareholders for subscription, and to sell non-subscribed

Ulrich Höller, CEO of DIC Asset AG: 'The successful completion of the
capital increase highlights the faith that our shareholders put in the
proven business model as well as in our strategic course for the coming
years, which we aim to implement consistently.'

About DIC Asset AG:

Established in 2002, DIC Asset AG, with registered offices in Frankfurt am
Main, is a real estate company with a dedicated investment focus on
commercial real estate in Germany, pursuing a return oriented investment
policy. The Company currently has a total of around 250 real property
assets worth approximately EUR 3.2 billion under management. The investment
strategy of DIC Asset AG aims at the continuous development of a
quality-driven, high-yield, and regionally diversified portfolio. The
portfolio is divided into two segments: the 'Commercial Portfolio' (EUR 1.8
billion) comprises existing properties with long-term rental contracts
generating attractive rental yields. The 'Co-Investment' segment (EUR 0.3
billion pro rata) pools fund investments, joint venture investments, and
investments in project developments. Own real estate management teams
provide a direct service to tenants through six branch offices located at
the regional hubs within the portfolio. This kind of market presence and
expertise creates the basis for preserving and enhancing our earnings and
real estate values. DIC Asset AG has been included in the SDAX(R) segment
of the Frankfurt Stock Exchange since June 2006. The Company's shares are
also included in the EPRA index, which tracks the performance of the most
important European real estate companies.


This publication is intended exclusively for information purposes, and
constitutes neither a sales offer nor an offer to buy or subscribe
securities. The offer was made exclusively through, and on the basis of,
the securities prospectus approved by the German Supervisory Authority for
Financial Services (BaFin) on 13 November 2013. Only the securities
prospectus contains the investor information required under applicable
statutory provisions. The securities prospectus has been published on the
Internet on the homepage of the issuer (www.dic-asset.de).

This publication is not destined for distribution or dissemination in the
United States of America, either directly or indirectly, or within the
United States of America (including its territories and possessions, or any
State of the United States of America or the District of Columbia) and may
not be distributed or passed to 'U.S. persons' (as defined in Regulation S
of the U.S. Securities Act of 1993, as amended from time to time (the
'Securities Act')), or to publications with a general distribution in the
United States of America. This publication represents neither an offer nor
an invitation to make an offer to purchase securities in the United States
of America, neither is it part of such offer or invitation. The securities
are not, and will not be, registered in accordance with the provisions of
the Securities Act and may only be sold or offered for purchase in the
United States of America subject to prior registration in accordance with
the provisions of the Securities Act, as amended, or on the basis of an
exemption if they have not previously been registered. The issuer does not
intend to register the offer of shares - in full or in part - in the United
States of America, or to carry out a public offer in the United States of

No prospectus was published or will be published in the United Kingdom for
the securities to which this publication relates. Therefore, this
publication exclusively addresses, and may only be distributed to
'qualified investors'. Qualified investors are those who have (i)
professional experience in investment transactions as defined in Article 19
(5) of the Financial Services and Markets Act 2000 (Financial Promotion)
Order 2005 (the 'Order'); (ii) are high net worth entities as defined in
Article 49(2)(a) to (d) of the Order; or (iii) whose circumstances
correspond to other persons to whom the document may be legally transmitted
(all these persons are identified collectively as 'relevant persons').
Furthermore, this publication is exclusively destined for those persons in
EEA member states outside Germany who are qualified investors as defined by
Article 2 (1) (e) of the Prospectus Directive (Directive 2003/71/EC, as
amended) ('qualified investors'). Any investment or investment activity in
connection with this publication is only accessible to, and will only be
entered into with (i) relevant persons in the United Kingdom or (ii)
qualified investors in EEA member states outside Germany. Any other persons
who receive this publication within a member state of the EEA other than
Germany should not refer to this publication, or act on the basis of it.

This publication does not constitute an offer to sell securities in Canada,
Japan or Australia.

Press contact:
Thomas Pfaff Kommunikation 
Höchlstrasse 2
D-81675 Munich
Tel. +49-89-992496-50
Fax +49-89-992496-52
Mobile +49-172-8312923

Investor Relations & Corporate Communications:
Immo von Homeyer
DIC Asset AG
Investor Relations & Corporate Communications
Eschersheimer Landstrasse 223
D-60320 Frankfurt am Main
Tel. +49-69-274033-86
Fax +49-69-9454858-99

End of Corporate News


28.11.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language:    English                                                
Company:     DIC Asset AG                                           
             Eschersheimer Landstr. 223                             
             60320 Frankfurt                                        
Phone:       +49 69 9454858-86                                      
Fax:         +49 69 9454858-99                                      
E-mail:      ir@dic-asset.de                                        
Internet:    www.dic-asset.de                                       
ISIN:        DE000A1X3XX4, DE000A1KQ1N3, DE000A1TNJ22               
WKN:         A1X3XX, A1KQ1N, A1TNJ2                                 
Indices:     S-DAX                                                  
Listed:      Regulierter Markt in Frankfurt (Prime Standard);       
             Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,  
             München, Stuttgart                                     
End of News    DGAP News-Service  
242131 28.11.2013