ADLER Real Estate AG / Key word(s): Miscellaneous 12.03.2014 11:56 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- ADLER Real Estate AG: Management Board of ADLER Real Estate Aktiengesellschaft determines exchange ratio for the present exchange offer to shareholders of ESTAVIS AG Hamburg, 11 March 2014. Management Board of ADLER Real Estate Aktiengesellschaft ("ADLER Real Estate", ISIN: DE0005008007 / WKN: 500800), Frankfurt/M., today determined the exchange ratio for the exchange offer announced on 10 February 2014 to the shareholders of ESTAVIS AG. This will be 25:14. That means every shareholder of ESTAVIS AG is entitled to take up 14 new ADLER shares from the capital increase against contributions in kind for every 25 shares of ESTAVIS AG which are tendered for exchange. This is equivalent to an implied price per ESTAVIS share of EUR 2.19 at a value of the ADLER share of EUR 3.91 (corresponding to the minimum price pursuant to Section 31 (1) of the German Securities Acquisition and Takeover Act (WpÃG), Section 5 (1) of the WpÃG Offer Ordinance (WpÃG-Angebotsverordnung). Compared with the volume-weighted three months average price of the ESTAVIS share for the period until and including 09 February 2014, which at the same time is the minimum price pursuant to Section 31 (1) of the German Securities Acquisition and Takeover Act, Section 5 (1) of the WpÃG Offer Ordinance, this means a premium of 8.41%. The value of EUR 3.91 of the ADLER share which was taken as a basis at the same time is the maximum price pursuant to the WpÃG Offer Ordinance. Together with the exchange ratio the Management Board of ADLER Real Estate AG has furthermore decided that the extraordinary general meeting of shareholders, which shall resolve a capital increase against contributions in kind for the contribution of the ESTAVIS shares, will take place on 22 April 2014. The exchange offer to the shareholders of ESTAVIS AG will begin immediately thereafter. The date of closure for the submission of the offer document was extended by BaFin to 07 April 2014. The Management Board For inquiries please contact: Press: german communications dbk ag Jörg Bretschneider Alsterufer 34, 20354 Hamburg, Germany Phone: +49-(0)40/46 88 33 0, Fax: +49-(0)40/47 81 80 presse@german-communications.com Investor Relations: Hillermann Consulting Christian Hillermann PoststraÃe 14, 20354 Hamburg, Germany Phone: +49-(0)40/32 02 79 10, Fax: +49-(0)40/32 02 79 114 c.hillermann@hillermann-consulting.de 12.03.2014 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: ADLER Real Estate AG Alstertor 17 20095 Hamburg Germany Phone: +49 (0)40 - 29 8130-0 Fax: +49 (0)40 - 29 8130-35 E-mail: info@adler-ag.com Internet: www.adler-ag.com ISIN: DE0005008007, DE000A1R1A42, WKN: 500800, A1R1A4 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg End of Announcement DGAP News-Service ---------------------------------------------------------------------------
DGAP-Adhoc: ADLER Real Estate AG: Management Board of ADLER Real Estate Aktiengesellschaft determines exchange ratio for the present exchange offer to shareholders of ESTAVIS AG
| Source: EQS Group AG