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AROUNDTOWN PROPERTY HOLDINGS PLC ANNOUNCES RESULTS OF INCENTIVISED
CONVERSION OFFER AND EQUITY PRIVATE PLACEMENT OF EUR266.5 MILLION
14 April 2016. Further to its announcements on 13 April 2016 relating to
its Conversion Offer and Share Placing, Aroundtown Property Holdings Plc
(Aroundtown) announces that, as a result of the majority of Offer
Instructions received from Bondholders indicating interest to keep their
position in the convertible bonds based on the Commission guidance, it has
decided not to accept the Offer Instructions.
Aroundtown additionally announces that as a result of the Accelerated
Book-build (which was oversubscribed) on 12 April 2016, a total of
65,000,000 new Ordinary Shares with a par-value of EUR 0.01 each will be
issued by Aroundtown and are expected to be admitted to trading.
Aroundtown will receive gross proceeds, from the additional equity capital
raised of EUR 266,500,000 and intends to use the proceeds to fund further
planned investments.
Aroundtown believes that as a result of this measure, free float of
Ordinary Shares will increase from approximately 27% to approximately 35%
(and approximately 49% on a fully diluted basis). Furthermore, Aroundtown
increased its cash position to execute on pipeline transactions, reduced
its Loan-To-Value ratio while increasing the headroom on its credit rating
KPI's and further diversified its shareholder base by attracting new
institutional investors.
Immediately following settlement, the total outstanding amount of Ordinary
Shares will be 667,903,670.
Capitalised terms used in this announcement but not defined have the
meanings given to them in the first announcement yesterday (the Launch
Announcement).
About Aroundtown Property Holdings Plc
Aroundtown Property Holdings Plc (trading symbol: AT1 on Frankfurt Stock
Exchange/Xetra; ALATP on Euronext) is a specialist real estate company
focused on value-add income generating properties primarily in the German
real estate markets. For the 12 months ending 31 December 2015, Aroundtown
reported an adjusted EBITDA of EUR153 million and a net profit of EUR921
million. Total EPRA NAV as of 31 December 2015 amounts to EUR3.04 billion.
Aroundtown Property Holdings Plc (ISIN: CY0105562116) is a public limited
liability company incorporated under the laws of Cyprus, having its
registered office at Artemidos & Nikou Dimitriou, 54 B, 6027, Larnaca,
Cyprus (registered number HE148223).
This announcement must be read in conjunction with the Launch Announcement.
No offer or invitation to convert any Bonds or acquire any Ordinary Shares
is being made pursuant to this announcement. The distribution of this
announcement and the Launch Announcement in certain jurisdictions may be
restricted by law. Persons receiving this announcement and/or the Launch
Announcement must not distribute or send them in, into or from the United
States. Persons into whose possession this announcement and/or the Launch
Announcement comes are required by each of the Offeror and the Dealer
Manager to inform themselves about, and to observe, any such restrictions.
The Ordinary Shares have not been and will not be registered under the
United States Securities Act of 1933, as amended (the Securities Act) or
any laws of or with any securities regulatory authority of any state or
other jurisdiction of the United States, and may not be offered, sold,
pledged or otherwise transferred within the United States except pursuant
to an exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act and the securities laws of any state or
other jurisdiction of the United States. No public offer of any Ordinary
Shares will be made in the United States.
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