Announcement

TAG Immobilien AG announces cancellation and early redemption of EUR30 million convertible bond 2010/2015

TAG Immobilien AG / Key word(s): Miscellaneous18.10.2013 / 08:00PRESS RELEASETAG Immobilien AG announces

TAG Immobilien AG announces cancellation and early redemption of EUR30 million convertible bond 2010/2015


TAG Immobilien AG / Key word(s): Miscellaneous

18.10.2013 / 08:00


PRESS RELEASE

TAG Immobilien AG announces cancellation and early redemption of EUR30 million convertible bond 2010/2015

Hamburg (18 October 2013) - TAG Immobilien AG, Hamburg, ('TAG' or the 'Company' in the following) issued a five-year EUR30 million convertible bond (ISIN DE000A1ELQF0 - WKN A1ELQF) (also 'convertible issue' in the following) in May 2010, which matures in May 2015 and carries an interest rate of 6.375%. TAG intends to cancel this convertible bond prematurely effective 2 December 2013 and to demand early repayment, as less than 20% of the total face value of the convertible bond is still outstanding. The cancellation and notice of repayment and conversion will be published in in the Bundesanzeiger / Federal Gazette of 18 October 2013. All bondholders have a final opportunity to exercise their conversion rights in accordance with the Terms and Conditions, during the exercise period from 12 November 2013 to 2 December 2013. The Company expects that most holders of the convertible bond will make use of this opportunity, since the conversion price is 5.0263 EUR, while TAG shares are currently priced at 8.52 EUR per share. For bondholders who do not exercise their conversion rights, the convertible bonds will be redeemed 100 %, plus accrued interest through 2 December 2013. With this early cancellation, the Company lessens the expenses associated with administering the bond until its maturity date; reduces its liabilities; and continues the redemption of convertible bonds initiated in mid-2013.

Disclaimer

This document does not constitute an offer to sell or an invitation to make a bid for the purchase or subscription of securities of TAG Immobilien AG. This document does not constitute an offer to sell securities in the United States of America, Canada, Australia, Japan or other jurisdictions in which an offer is subject to statutory restrictions.

Press enquiries:
TAG Immobilien AG
Head of Investor & Public Relations
Dominique Mann
Phone +49 (0) 40 380 32 300
Fax +49 (0) 40 380 32 390
pr@tag-ag.com



End of Corporate News


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Language: English
Company: TAG Immobilien AG
Steckelhörn 5
20457 Hamburg
Germany
Phone: 040 380 32 0
Fax: 040 380 32 390
E-mail: ir@tag-ag.com
Internet: www.tag-ag.com
ISIN: DE0008303504, XS0954227210
WKN: 830350, A1TNFU
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), München; Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, Stuttgart
End of News DGAP News-Service

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