TAG Immobilien AG: TAG approves equity offering of up to 5,000,000 new shares to finance further acquisitions

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

17.11.2011 07:45

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.


The Management Board of TAG Immobilien AG ('TAG' or 'the company' in the
following) today resolved, with the approval of the Supervisory Board, to
issue up to 5,000,000 new shares against cash contributions. The
resolution draws on the capital authorised by the General Meeting on 7
April 2011 and excludes shareholders' statutory subscription rights. The
shares will be offered to qualified investors in the European Economic Area
and Switzerland by way of a private placement. The offer price is EUR 6.10
per share. The final issue volume will be published today following a
book-building process. The company's registered share capital of currently
EUR 69.9 million will increase to as much as EUR 74.9 million. The new
shares will be admitted for trading on the regulated market the Frankfurt
Stock Exchange (Prime Standard) as soon as the capital increase has been
entered in the commercial registry, which the company expects will happen
in the next few days, and will carry dividend rights for the 2011 fiscal

The capital increase against cash will serve to finance further
acquisitions. The company is currently in negotiations regarding the
acquisition of various residential real estate portfolios, a smaller
portfolio of approximately 360 units in Erfurt, and two residential
complexes in the greater Berlin area with a total of approximately 2,900
units and rental space of 170,000 m². The - not yet definitively negotiated
- purchase price volume for both transactions is between EUR 130 million
and EUR 140 million. The contracts are to be finalised and signed in the
next few months. Alternatively, if the funds raised by the equity offering
cannot be used for acquisitions, they are to be used to pay down debt.

Close Brothers Seydler Bank AG, Frankfurt am Main, and Kempen & Co. N.V.,
Amsterdam, will jointly manage the capital increase.

Please refer to today's press release for details.


This document does not constitute an offering to sell, nor a solicitation
for offers to buy or subscribe, shares in the company.

TAG Immobilien AG
Investor und Public Relations 
Britta Lackenbauer / Dominique Mann
Tel. +49 (0) 40 380 32 -386 / -305
Fax +49 (0) 40 380 32 390

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