TAG Immobilien AG's capital increase considerably oversubscribed - TAG expects gross proceeds of around EUR 127 million from successful placement of shares

TAG Immobilien AG / Key word(s): Capital Increase

19.03.2012 / 09:00

 (Hamburg, 19 March 2012) TAG Immobilien AG ('TAG' in the following) has issued approx. 20.6 million new shares, at a subscription price of EUR 6.15 per share, as part of a capital increase against contribution in cash that was placed in full. The shares were offered to TAG shareholders as part of a subscription offer during the time from 2 to 16 March 2012, and publicly offered to private and institutional investors in Germany, and to institutional investors as a private placement in selected other European countries, until 19 March 2012. The capital increase was considerably oversubscribed. Expected around 52% of the new shares were subscribed by existing shareholders, and expected around 48% were placed with institutional investors outside the existing shareholder group. No shares were allocated to private investors beyond the subscription offer. The emission of some 20.6 million new shares at EUR 6.15 each will generate gross proceeds of around EUR 127 million for TAG.

The proceeds, net of emission costs, will largely be used to finance the acquisition of DKB Immobilien AG ('DKBI' in the following). On 29 February 2012 TAG had tendered a binding offer to buy DKBI in the bidding procedure administered by Deutsche Kreditbank AG. The offer to purchase DKBI also includes a cash component of EUR 160 million. The decision on whether the bid was successful is expected early next week (Calendar Week 13).

The capital increase is expected to be entered in the company register shortly. It will increase TAG's equity by EUR 20,663,737, from EUR 75,764,513 to EUR 96,428,250. The new shares are scheduled for admission to trading on the Frankfurt stock exchange as of 21 March 2012. Their delivery is scheduled for 23 March 2012.

Kempen & Co. N.V., Amsterdam, and Close Brothers Seydler Bank AG, Frankfurt am Main are the joint bookrunners of the capital increase.

This document is neither an offer to sell nor an invitation to tender offers to buy or subscribe to securities. It is not intended for shareholders and investors in the United States, Canada, Australia or Japan.
Shares in the company will be offered solely based on the prospectus approved by Germany's Federal Financial Supervisory Authority (BaFin), which was published on 29 February 2012 on the company's homepage at www.tag-ag.com/investor-relations.

Press enquiries:
TAG Immobilien AG
Investor & Public Relations
Britta Lackenbauer / Dominique Mann
Phone +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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