Ad-Hoc Announcement

TAG Immobilien AG successfully placed 5,000,000 treasury shares

TAG Immobilien AG successfully placed 5,000,000 treasury shares

TAG Immobilien AG / Key word(s): Miscellaneous

 

17.03.2016 07:30

 

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted

by DGAP - a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

 


 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION DIRECTLY OR INDIRECTLY, IN

WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR

SOUTH AFRICA OR IN ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A

VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

 

AD HOC ANNOUNCEMENT

 

TAG Immobilien AG successfully placed 5,000,000 treasury shares - Gross

proceeds of EUR 58.3 million

 

- Private placement of 5,000,000 treasury shares in an ABB transaction

with a discount of 3.6% to the closing price of EUR 12.09 per 16 March

2016

 

- Capital recycling strategy successfully implemented on the liabilities

side with positive financial impact

 

Hamburg (17 March 2016) - On 16 March 2016 TAG Immobilien AG ('TAG' or the

'Company') placed 5,000,000 treasury shares ('Placement Shares')

(representing approximately 3.7% of the Company's ordinary share capital)

with institutional investors in an accelerated bookbuilding process. The

price of the Placement Shares was set at EUR 11.65 per share which

represents a 3.6% discount to the last closing price on the Frankfurt Stock

Exchange. This is equivalent to a 6.1% premium to the share's 3-month

volume weighted average price (VWAP) and a 9.5% premium to the EPRA NAV per

share of EUR 10.64 per share as of 31 December 2015.

 

Upon settlement of the transaction, which is expected to take place on 21

March 2016, the placement results in gross proceeds to the Company in an

amount of approximately EUR 58.3 million which are intended to be used for

general and corporate purposes as well as for potential property

acquisitions in the context of its overall strategy of continuously

optimizing its capital structure. The placed shares rank pari passu in all

respects with the existing shares of the Company (including as to dividend

rights).

 

Pursuant to the share buyback in September / October 2014 at EUR 9.30 per

share, this transaction demonstrates TAG's ability to successfully execute

its capital recycling strategy also on the liabilities side.

 

Berenberg and Kempen & Co acted as Joint Bookrunners. VICTORIAPARTNERS

acted as independent transaction advisor to TAG.

 

Press enquiries:

TAG Immobilien AG

Head of Investor & Public Relations

Dominique Mann

Phone +49 (0) 40 380 32 300

Fax +49 (0) 40 380 32 388

ir@tag-ag.com

 

 

 

Disclaimer

THIS PUBLICATION IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED,

AND SHOULD NOT BE CONSTRUED, AS AN OFFER TO SELL OR A SOLICITATION OF AN

OFFER TO BUY OR SUBSCRIBE FOR ANY SHARES OR OTHER SECURITIES OF TAG

IMMOBILIEN AG (THE "COMPANY"), HAMBURG IN ANY JURISDICTION, INCLUDING THE

UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA. NEITHER THIS

PUBLICATION NOR ANYTHING CONTAINED HEREIN SHALL FORM THE BASIS OF, OR BE

RELIED UPON IN CONNECTION WITH, ANY OFFER OR COMMITMENT WHATSOEVER IN ANY

JURISDICTION. NO PUBLIC OFFERING OF SECURITIES OF THE COMPANY IS BEING, OR

WILL BE, MADE IN ANY JURISDICTION. THE SECURITIES OF THE COMPANY DESCRIBED

HEREIN HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES

ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR UNDER THE SECURITIES

LAWS OF ANY STATE OR OTHER JURISDICTION OF THE UNITED STATES, AND MAY NOT

BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES ABSENT

REGISTRATION UNDER THE SECURITIES ACT OR AN AVAILABLE EXEMPTION FROM, OR IN

A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE

SECURITIES ACT AND IN COMPLIANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY

STATE OR OTHER JURISDICTION OF THE UNITED STATES. THERE WILL BE NO PUBLIC

OFFERING OF SECURITIES IN THE UNITED STATES.

IN THE UNITED KINGDOM, THIS DOCUMENT IS ONLY BEING DISTRIBUTED TO AND IS

ONLY DIRECTED AT PERSONS WHO (I) ARE INVESTMENT PROFESSIONALS FALLING

WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000

(FINANCIAL PROMOTION) ORDER 2005 (AS AMENDED) (THE "ORDER") OR (II) ARE

PERSONS FALLING WITHIN ARTICLE 49(2)(A) TO (D) (HIGH NET WORTH COMPANIES,

UNINCORPORATED ASSOCIATIONS, ETC.) OF THE ORDER (ALL SUCH PERSONS TOGETHER

BEING REFERRED TO AS "RELEVANT PERSONS"). THIS DOCUMENT IS DIRECTED ONLY AT

RELEVANT PERSONS AND MUST NOT BE ACTED ON OR RELIED ON BY PERSONS WHO ARE

NOT RELEVANT PERSONS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS

DOCUMENT RELATES IS AVAILABLE ONLY TO RELEVANT PERSONS AND WILL BE ENGAGED

IN ONLY WITH RELEVANT PERSONS.

THE JOINT BOOKRUNNERS ARE ACTING EXCLUSIVELY FOR THE COMPANY AND NO-ONE

ELSE IN CONNECTION WITH THE PLACING. THEY WILL NOT REGARD ANY OTHER PERSON

AS THEIR RESPECTIVE CLIENTS AND WILL NOT BE RESPONSIBLE TO ANYONE OTHER

THAN THE COMPANY FOR PROVIDING THE PROTECTIONS AFFORDED TO THEIR RESPECTIVE

CLIENTS, NOR FOR PROVIDING ADVICE IN RELATION TO THE CONTENTS OF THIS

PUBLICATION OR ANY TRANSACTION, ARRANGEMENT OR OTHER MATTER REFERRED TO

HEREIN. NONE OF THE JOINT BOOKRUNNERS OR ANY OF THEIR RESPECTIVE DIRECTORS,

EMPLOYEES, ADVISERS OR AGENTS ACCEPTS ANY RESPONSIBILITY OR LIABILITY

WHATSOEVER FOR (INCLUDING ANY LOSS HOWSOEVER ARISING FROM ANY USE OF THE

PUBLICATION OR ITS CONTENTS OR OTHERWISE ARISING IN CONNECTION THEREWITH)

OR MAKES ANY REPRESENTATION OR WARRANTY, EXPRESSED OR IMPLIED, AS TO THE

TRUTH, ACCURACY OR COMPLETENESS OF THE INFORMATION IN THIS PUBLICATION (OR

WHETHER ANY INFORMATION HAS BEEN OMITTED FROM THE PUBLICATION), WHETHER

WRITTEN, ORAL OR IN A VISUAL OR ELECTRONIC FORM, AND HOWSOEVER TRANSMITTED

OR MADE AVAILABLE.

 

 

17.03.2016 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: TAG Immobilien AG

Steckelhörn 5

20457 Hamburg

Germany

Phone: 040 380 32 0

Fax: 040 380 32 388

E-mail: ir@tag-ag.com

Internet: www.tag-ag.com

ISIN: DE0008303504, XS0954227210, DE000A12T101

WKN: 830350, A1TNFU, A12T10

Indices: MDAX

Listed: Regulated Market in Frankfurt (Prime Standard), Munich;

Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg,

Hanover, Stuttgart; Terminbörse EUREX

 

End of Announcement DGAP News-Service