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Aroundtown Property Holdings Plc. / Miscellaneous - Urgent Priority
Aroundtown Property Holdings Plc. places 93 million new shares raising gross
proceeds of around EUR 426 million and closes offer to holders of
outstanding convertible bonds maturing in 2020
09-May-2017 / 23:46 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EQS Group AG.
The issuer is solely responsible for the content of this announcement.
*THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY
OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH
AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION
OF APPLICABLE LAWS OR REGULATIONS*
*Disclosure of inside information according to Article 17 MAR*
*Larnaca, Cyprus, 9 May 2017, 23:00 CEST*
*Aroundtown Property Holdings plc places 93 million new shares raising gross
proceeds of around EUR 426 million and closes offer to holders of
outstanding convertible bonds maturing in 2020.*
Aroundtown Property Holdings plc ('*Aroundtown*' or the '*Company*') today
announces the successful placement of the following transactions:
- capital increase through the issuance of 93 million new shares (the '*New
Shares*') for cash and exchange of the Convertible Bonds under the Tender
Offer at a placement price of EUR 4.58 per New Share (the '*Capital
Increase*'); and
- reduction of outstanding principal amount of EUR 55.3 million of
convertible bonds due 2020 (the '*Convertible Bonds*', ISIN: XS1227093611)
for cash or exchange into New Shares at a price of EUR 4.58 per New Share
(the '*Tender* *Offer*').
*Capital Increase*
Aroundtown has successfully placed the Capital Increase which was announced
by it today. A total of 93 million New Shares were placed with institutional
investors, at a placement price of EUR 4.58 per New Share with issue volume
of around EUR 426 million.
The pre-emptive rights of the Company's existing shareholders with respect
to the Capital Increase and the allotment of New Shares were disapplied
and/or waived.
Upon issuance, the New Shares will carry full dividend rights and will be
fully paid up.
The New Shares will be admitted to trading with the Company's existing
shares and are expected to be included in the existing quotation for the
Company's shares on 12 May 2017.
*Tender Offer*
In connection with the Tender Offer to all holders of Convertible Bonds
which was announced by the Company today, the Company has accepted tenders
of Convertible Bonds for purchase for cash or exchange into New Shares at a
price of EUR 4.58 per New Share, in an aggregate principal amount of EUR
55.3 million.
Settlement of the Tender Offer is expected to occur on 12 May 2017. Upon
settlement the outstanding aggregate principal amount of Convertible Bonds
will be reduced from EUR 128.7 million to EUR 73.4 million.
Upon the settlement of the Tender Offer and under the terms and conditions
of the Convertible Bonds, the Purchaser may redeem all of the Convertible
Bonds at their principal amount, together with accrued but unpaid interest.
*Use of Proceeds*
The proceeds from the Capital Increase will primarily be used to finance the
Tender Offer and the redemption of the remaining Convertible Bonds. The
remaining proceeds will be used to finance the Company's growth strategy and
to re-finance and/or to repay existing debt.
*Inside information*
This press release relates to the disclosure of information that qualified,
or may have qualified, as inside information within the meaning of Article
7(1) of the EU Market Abuse Regulations.
*About the Company*
Aroundtown Property Holdings plc (trading symbol: AT1 on Frankfurt Stock
Exchange/Xetra; ALATP on Euronext) is a specialist real estate company
focused on value-add income generating properties primarily in the German
real estate markets.
Aroundtown Property Holdings plc (ISIN: CY0105562116) is a public limited
liability company incorporated in 2004 under the laws of Cyprus, having its
registered office at Artemidos & Nikou Dimitriou, 54 B, 6027, Larnaca,
Cyprus (registered number HE148223).
*Contact*
Timothy Wright
T: +357-2420-1312
E: info@aroundtownholdings.com
www.aroundtownholdings.com [1]
*Disclaimer *
This announcement may not be published, distributed or transmitted, directly
or indirectly, in the United States (including its territories and
possessions), Canada, Australia or Japan or any other jurisdiction where
such an announcement would be unlawful, or to, or for the benefit of, U.S.
Persons. The distribution of this announcement may be restricted by law in
certain jurisdictions and persons into whose possession this document or
other information referred to herein should inform themselves about and
observe any such restriction. Any failure to comply with these restrictions
may constitute a violation of the securities laws of any such jurisdiction.
This publication does not constitute an offer of securities for sale or a
solicitation of an offer to purchase securities of Aroundtown in the United
States, Germany or any other jurisdiction. Neither this announcement nor
anything contained herein shall form the basis of, or be relied upon in
connection with, any offer or commitment whatsoever in any jurisdiction. The
securities of Aroundtown may not be offered or sold in the United States or
to, or for the benefit of, U.S. Persons, absent registration or an exemption
from registration under the U.S. Securities Act of 1933, as amended (the
'*Securities Act*'). The securities of Aroundtown have not been, and will
not be, registered under the Securities Act. This publication is not an
extension of an offer in the United States for securities of Aroundtown. An
offer for the sale of Convertible Bonds is not being made within the United
States or to, or for the account or benefit of, persons located or resident
in the United States or to, or for the benefit of, U.S. Persons.
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) of the Order (high net worth
companies, unincorporated associations, etc.) (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.
In member states of the European Economic Area ('*EEA*') which have
implemented the Prospectus Directive (each, a '*Relevant Member State*'),
this announcement and any offer if made subsequently is directed exclusively
at persons who are '*qualified investors*' within the meaning of the
Prospectus Directive ('*Qualified Investors*'). For these purposes, the
expression '*Prospectus Directive* ' means Directive 2003/71/EC as amended,
including by Directive 2010/73/EU, and includes any relevant implementing
measure in the Relevant Member State and the expression '*2010 PD Amending
Directive*' means Directive 2010/73/EU.
No action has been taken that would permit an offering of the securities or
possession or distribution of this announcement in any jurisdiction where
action for that purpose is required. Persons into whose possession this
announcement comes are required to inform themselves about and to observe
any such restrictions.
This information contains forward-looking statements that are based upon
current views and assumptions of the Aroundtown management, which were made
to its best knowledge. Forward-looking statements are subject to known and
unknown risks, uncertainties and other factors which could cause the
earnings position, profitability, performance or the results of Aroundtown
or the success of the housing industry to differ materially from the
earnings position, profitability, performance or the results expressly or
implicitly assumed or described in these forward-looking statements. In
consideration of these risks, uncertainties and other factors, persons
receiving these documents are advised not to unreasonably rely on these
forward-looking statements. Aroundtown does not assume any obligation to
update such forward-looking statements and to adjust them to any future
results and developments.
The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de/ukreg
Language: English
Company: Aroundtown Property Holdings Plc.
Faros, Shop 2, Spyros Thalassines Alkyonides
7560 Larnaca
Cyprus
Phone: +357 2420 1312
E-mail: info@aroundtownholdings.com
Internet: www.aroundtownholdings.com
ISIN: CY0105562116, XS1508392625, XS1227093611, XS1336607715,
XS1403685636, XS1449707055, XS1532877757, XS1540071724,
XS1586386739
WKN: A14QGA, A1871P, A1Z07A, A18V71, A180VY, A1839S, A1899S,
A19A2V
Listed: Regulated Unofficial Market in Berlin, Stuttgart; Open Market
in Frankfurt; Dublin, Paris
Category Code: MSCU
TIDM: IRSH
Sequence No.: 4169
End of Announcement EQS News Service
571653 09-May-2017
1: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=4345d7aea553619c4df169c105a35861&application_id=571653&site_id=vwd&application_name=news
(END) Dow Jones Newswires
May 09, 2017 17:47 ET (21:47 GMT)
