TAG Immobilien AG: TAG Immobilien AG's 4.5% convertible bond (2009/2012) nearly fully converted

TAG Immobilien AG / Key word(s): Miscellaneous

09.07.2012 / 09:00

(Hamburg, 9. July 2012) TAG Immobilien AG ('TAG' in the following) has announced that its convertible bond with ISIN DE000A1CR8L1 has been converted in its entirety prior to its regular maturity, except for a piece totalling EUR 25,000. The 4.5% convertible bond was issued in December 2009 with a total volume of EUR 12.5 million and a maturity of three years. The premature conversion of the convertible bond strengthens TAG's balance sheet, reduces interest expenses and is a testament to investor and shareholder confidence in the company.

TAG Immobilien AG CEO Rolf Elgeti confirms: 'We believe convertible bonds are a good financial instrument for TAG's strategic situation. They have enabled us to finance our company's growth strategy while keeping the dilution of shareholders within reasonable limits. The two convertible bonds scheduled to mature in 2015 are also already 'in the money', which means their current share price exceeds the price of converting the bonds, so that those two should further strengthen our balance sheet shortly.'

This brings TAG's share capital to 98.921.227 shares.

Press enquiries:
TAG Immobilien AG
Investor & Public Relations
Britta Wöhner / Dominique Mann
Tel. +49 40 380 32 0
Fax +49 40 380 32 390

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Company:TAG Immobilien AG
Steckelhörn 5
20457 Hamburg
Phone:040 380 32 0
Fax:040 380 32 390
Listed:Regulierter Markt in Frankfurt (Prime Standard), München; Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, Stuttgart
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