IVG Immobilien AG / Key word(s): Corporate Action/Capital Increase
30.11.2011 08:30
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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The information contained herein is not for publication or distribution,
directly or indirectly, in or into the United States of America, Canada,
Japan or Australia
IVG Immobilien AG decides on underwritten capital increase of 69,283,885
new shares with the intention to accelerate its operational and financial
optimization via focused investments in its cavern business
Bonn, 30 November 2011
The management board of IVG Immobilien AG, Bonn (ISIN DE0006205701) has,
with the consent of the supervisory board, resolved to increase the
registered share capital of the company from EUR 138,599,999 by EUR
69,283,885 by issuing 69,283,885 new ordinary bearer shares.
The new shares will be offered to existing shareholders by means of
indirect subscription rights at a subscription ratio of 2:1, meaning that
two existing shares will entitle a shareholder to subscribe for one new
share. The subscription price is EUR 2.10. Subject to the approval of the
securities prospectus by the German Federal Financial Supervisory Authority
(BaFin), the subscription period will run from and including 1 December
2011 and is expected to end on 14 December 2011; the subscription rights
are expected to be traded from 1 December 2011 to 12 December 2011
(including).
After the successful early extension of several credit lines with total
debt extensions of EUR 2.6bn during 2011, management of IVG decided to take
a further step to optimize the operational and financial standing of the
company via the EUR 145m underwritten capital increase.
The gross cash inflow of EUR 145m will be mainly used to secure the
financing for the continued construction of pre-let and partially pre-sold
oil and gas storage caverns.
The construction of further caverns will establish the basis for successive
deleveraging by increasing asset values and with the proceeds from their
disposals enabling further debt repayments with positive effects on IVG's
loan to value ratios.
IVG intends to use a smaller portion (5%-15%) of the net proceeds to
increase its investment capacity in line with its platform strategy for
potential seed investments to further increase recurring income.
Mann Immobilien-Verwaltung Aktiengesellschaft ('Mann') has committed,
subject to certain conditions, to participate in the offering by exercising
all of its subscription rights. Furthermore, Mann has declared that it may
decide to acquire additional new shares in the rump placement.
Universal-Investment-Gesellschaft mit beschränkter Haftung has committed,
subject to certain conditions, to participate in the offering by exercising
subscription rights held by it or its subsidiaries and funds. Santo Holding
AG has waived the majority of its subscription rights. One institutional
investor has committed to acquire the respective amount of new shares
corresponding to such waiver. Santo Holding AG intends to hold at least 10%
plus one share of the Company's share capital following the offering.
Any new share not subscribed for by the end of the subscription period and
not taken up by the institutional investor will be offered by way of an
international private rump placement. Berenberg Bank as sole underwriter
has agreed, subject to certain conditions, to take up and purchase at the
subscription price all new shares that have not been placed with investors
in the rights offering or the rump placement.
Berenberg Bank, Commerzbank and UBS act as Joint Global Coordinators and
together with UniCredit Bank AG as Joint Bookrunners in this transaction.
This publication constitutes neither an offer to sell nor a solicitation to
buy or
subscribe to securities. Any such offer will be made solely on the basis of
the
Securities Prospectus to be published and registered with the German
Financial Supervisory Authority (BaFin). The information legally required
to be provided to investors is contained only in the Securities Prospectus.
The Securities Prospectus will be available from the Issuer during normal
business hours starting on a yet to be determined date.
The information contained herein is not for distribution, directly or
indirectly, in or into 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 must not be distributed to U.S. persons (as
defined in Regulation S under the U.S. Securities Act of 1933, as amended
('Securities Act')) or publications with a general circulation in the
United States of America. This publication does not constitute or form part
of any offer or solicitation to purchase or subscribe for securities in the
United States of America. The securities have not been and will not be
registered under the Securities Act and may not be offered or sold in the
United States of America absent registration or an exemption from
registration under the Securities Act, as amended. The Issuer does not
intend to register any portion of the offering in the United States of
America or to conduct a public offering of the securities in the United
States of America.
This publication is not an offer of securities for sale in the United
States of America, Canada, Japan or Australia.
Martin Praum, Managing Director
Head of Investor Relations & Capital Markets
Head of Communication & Marketing
IVG Immobilien AG
Zanderstr. 5-7
53177 Bonn
Germany
Tel: +49 228 844 137
Fax: +49 228 844 6137
Mob: +49 151 1500 2634
email: martin.praum@ivg.de
email: ir@ivg.de (IR-Team)
email: info@ivg.de (Media Team)
Web: www.ivg.de
30.11.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: IVG Immobilien AG
Zanderstr. 5-7
53177 Bonn
Germany
Phone: +49 (0)228 844-333
Fax: +49 (0)228 844-372
E-mail: ir@ivg.de
Internet: www.ivg.de
ISIN: DE0006205701
WKN: 620570
Indices: SDAX
Listed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime
Standard), München; Freiverkehr in Hamburg, Hannover,
Stuttgart
End of Announcement DGAP News-Service
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DGAP-Adhoc: IVG Immobilien AG decides on underwritten capital increase of 69,283,885 new shares
| Source: EQS Group AG