DGAP-News: 2015 Shareholder Meeting of DIC Asset AG


DGAP-News: DIC Asset AG / Key word(s): AGM/EGM
2015 Shareholder Meeting of DIC Asset AG

02.07.2015 / 13:45

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Press Release 

Frankfurt, 02 July 2015 

2015 Shareholder Meeting of DIC Asset AG: 

  - All agenda items approved by clear majority votes 
  - Dividend for 2014 set at EUR 0.35 per share (2013: EUR 0.35)
  - Two new members appointed to the supervisory board
  - Refinancing successfully completed
  - More than half of all sales planned for 2015 already transacted
  - Management board confirms forecast for 2015 (FFO: EUR 48 - 50 million)

The shareholder meeting of DIC Asset AG (WKN A1X3XX / ISIN DE000A1X3XX4),
which convened in Frankfurt today, ended after around 2.5 hours at 12:20
CEST. With around 64.1 percent of the share capital represented, the
meeting passed the motions submitted by the senior management with clear
majorities for every item on the agenda just as in previous years (for a
breakdown of the voting results, see the table inserted below). One of the
key items was  the distribution of a dividend for the 2014 financial year
in the amount of EUR 0.35 per share, which matches the prior-year dividend
(2013: EUR 0.35). Based on the year-end share price for 2014, the dividend
yield equals around 4.7 percent (2013: 5.2 percent). Supervisory board
members Russell Platt and Bernd Wegener ended their term on the supervisory
board with this year's shareholder meeting. They were succeeded by Prof.
Dr. Ulrich Reuter, District Administrator for the District of
Aschaffenburg, and Dr. Anton Wiegers, CFO of Provinzial Rheinland Holding.

Ulrich Höller, CEO of DIC Asset AG: "We implemented the planned program in
a disciplined manner, and are now well on track to achieve our set
strategic goals."

By mid-year 2015, the sales total already exceeded 50 percent of the
year-end target at c. EUR 130 million (30/06/2014: EUR 54 million). On
average, the selling prices we negotiated exceeded the most recently
appraised market values by around 6 percent.

Out of the total amount of EUR 372 million due for refinancing for the
proprietary portfolio (commercial portfolio) in 2015, approximately EUR 315
million was already refinanced by the end of H1 2015. The average maturity
of the new financing arrangements is roughly 7 years. The average interest
rate for all bank loans was reduced from 3.9 percent to 3.5 percent as per
the key date of 30/06/2015 (30/06/2014: 4.1 percent). The average maturity
of all financial liabilities rose to 4.7 years.

On occasion of today's shareholder meeting, the management board confirmed
the forecast for 2015 published at the beginning of the year:

  - Continued expansion of the fund business (planned fund acquisitions:
    EUR 130-150 million)

  - Sales volume of c. EUR 150-170 million 

  - The rental income is expected to amount to somewhere between EUR 134
    million and EUR 136 million.

  - Reduction of the vacancy rate down to 10.5 percent by the end of the
    year (2014: 10.9 percent).

  - On this basis, DIC Asset AG plans to realise a FFO of EUR 48-50 million
    in 2015 despite the decline in rental income caused by property sales.


Summary of the voting results:

Agenda Item                                                 Approved in
                                                            percent

1. Presentation of 2014 annual accounts                     no vote
2. Use of profit available for distribution                 99.9
3. Discharge of the Management Board                        98.3
4. Discharge of the Supervisory Board                       93.9
5. Election of auditors for 2015                            87.7
6.1 Election of Prof. Dr. Ulrich Reuter to the 
    Supervisory Board                                       99.2
6.2 Election of Dr. Anton Wiegers to the Supervisory Board  87.0
7.  Creation of new authorised capital                      93.1
8.  Creation of new contingent capital                      94.3


For details on DIC Asset AG as well as the quarterly report for Q1 2015,
please visit us on the Internet at www.dic-asset.de.


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 has a total of around 230 real property assets worth
approximately EUR 3.3 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 real estate portfolio
is structured in two segments: the Commercial Portfolio (EUR 2.2 billion)
comprises existing properties with long-term rental contracts generating
attractive rental yields. The "Co-Investment" segment (EUR 0.2 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.

 
Press contact:

Thomas Pfaff Kommunikation 
Höchlstrasse 2
D-81675 Munich
Tel. +49-89-992496-50
Fax +49-89-992496-52
Mobile +49-172-8312923
kontakt@pfaff-kommunikation.de 


Investor relations

Peer Schlinkmann
Neue Mainzer Strasse 20 - MainTor
D-60311 Frankfurt am Main
Tel. +49-69-274033-1221
Fax +49-69-274033-9399
P.Schlinkmann@dic-asset.de  



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Language:    English                                                     
Company:     DIC Asset AG                                                
             Neue Mainzer Straße 20 * MainTor                            
             60311 Frankfurt                                             
             Germany                                                     
Phone:       +49 69 9454858-1221                                         
Fax:         +49 69 9454858-9399                                         
E-mail:      ir@dic-asset.de                                             
Internet:    www.dic-asset.de                                            
ISIN:        DE000A1X3XX4, DE000A1TNJ22, DE000A12T648                    
WKN:         A1X3XX, A1TNJ2, A12T64                                      
Indices:     S-DAX                                                       
Listed:      Regulated Market in Frankfurt (Prime Standard); Regulated   
             Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,  
             Munich, Stuttgart                                           
 
 
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