DGAP-News: ADLER Real Estate AG / Key word(s): AGM/EGM ADLER Real Estate AG: ADLER Real Estate AG remains on growth path 22.05.2015 / 13:37 --------------------------------------------------------------------- Corporate News ADLER Real Estate AG remains on growth path - Annual General Meeting approves updating of capital structure - Ongoing discussions on acquisition of additional portfolios - Growth in portfolio to over 50,000 residential units at middle of year Hamburg, 22 May 2015. ADLER Real Estate AG (ISIN: DE0005008007 / WKN: 500800), Frankfurt am Main, remains on its path of steady growth. With only a few 'no' votes and attendance of 45.3%, the company's Annual General Meeting on Friday confirmed key conditions which will allow ADLER to continue to have optionality in implementing future acquisitions. During the meeting, CEO Axel Harloff emphasised that the company has a strong interest in continuing to expand its property portfolio. In 2014 ADLER more than tripled its property portfolio from approximately 7,800 residential units to over 24,000. This year, the property portfolio will increase to in excess of 50,000 units following the acquisition of WESTGRUND AG, Berlin, which is set to complete around the middle of the year. However, Harloff stressed that further acquisitions would be considered in line with the company's event driven /special opportunities focus and by the quality of available assets. The Annual General Meeting approved the updating of the existing capital structure so that in the event of future acquisitions, ADLER will be able to implement future corporate actions in a timely and strategic manner. For this purpose, during the Annual General Meeting a resolution was made to authorise changes to the share capital in order to meet potential changes to the capital structure on one or more occasions amounting to a total of up to EUR 13.3 million in exchange for cash and/or non-cash contributions, with the option of not applying the statutory pre-emptive subscription rights. It was further resolved that ADLER be authorised to issue bearer or registered bonds with warrants and/or convertible bonds with a total nominal amount of up to EUR 250 million, a maximum term of ten years, and to grant warrants or conversion rights to the holders of these bonds and/or convertible bonds for up to a total of 7.6 million new no-par value bearer shares, in accordance with the specific terms of the bonds with warrants and/or convertible bonds in the period up to and including 21 May 2020. "Past experience has already shown that with this capital structure we will be flexible enough to seize the opportunities on the market that are so important for our company and its growth," said Harloff. ADLER began its growth three years ago with its repositioning itself as a residential real estate company focusing on event-driven and special situation opportunities. During this period, total assets increased from circa EUR 30 million to circa EUR 1.7 billion. At the same time, the company's revenue, income and assets also expanded significantly. In the first quarter of the 2015 financial year, ADLER's consolidated net profit doubled to a level of EUR 42.9 million. For enquiries, please contact: PRESS: german communications dbk ag Jörg Bretschneider Milchstr. 6 B, 20148 Hamburg Tel.: 040/46 88 33 0, Fax: 040/47 81 80 presse@german-communications.com INVESTOR RELATIONS: Hillermann Consulting Christian Hillermann PoststraÃe 14, 20354 Hamburg Tel.: 040/32 02 79 10, Fax: 040/32 02 79 114 c.hillermann@hillermann-consulting.de --------------------------------------------------------------------- 22.05.2015 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP 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 Herriotstr. 5 60528 Frankfurt am Main Germany Phone: +49 (0)40 - 29 8130-0 Fax: +49 (0)40 - 29 8130-99 E-mail: info@adler-ag.com Internet: www.adler-ag.com ISIN: DE0005008007, XS1211417362, DE000A1R1A42, DE000A11QF02 WKN: 500800, A14J3Z, A1R1A4, A11QF0 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg End of News DGAP News-Service --------------------------------------------------------------------- 361167 22.05.2015
DGAP-News: ADLER Real Estate AG: ADLER Real Estate AG remains on growth path
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