(DGAP-Media / 07.11.2014 / 19:13)
Corporate News
THIS ANNOUNCEMENT IS NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY
OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.
Primecity Investment Plc successfully places convertible bond offering
November 7, 2014 - Primecity Investment Plc (the "Company") announces the
successful placement of EUR 100 million senior, secured convertible bonds
(the "Bonds") convertible into new ordinary shares having a par value of
EUR 0.01 (the "Shares") of the Company.
Following an accelerated book building process, the Company fixed the
nominal coupon at 4.00 % p. a., payable semi-annually in arrear. The
initial conversion price was fixed at EUR 3.00. The Bonds will be issued at
100% of their principal amount and will be redeemed at maturity at 110 % of
their principal amount.
The offer was oversubscribed. The net proceeds from the placement of the
Bonds will be used by Primecity to fund the Company's acquisitions
pipeline as well as further investments into its current hotel portfolio.
The Company is in advanced acquisition processes for hotel assets with a
total volume of more than EUR 50 million.
Settlement is expected to take place on or around November 13, 2014. The
Bonds will be listed on the Open Market (Freiverkehr) of the Frankfurt
Stock Exchange.
Anoa Capital is acting as Sole Bookrunner and KNG Securities as Co-manager
in relation to the transaction.
About Primecity Investment
Primecity is a specialist real estate company focused on investing in and
repositioning mismanaged Hotel properties primarily in Germany. The hotel
properties are located in key German locations which enjoy high tourism,
business and exhibitions, such as Berlin, North Rhine Westphalia, Frankfurt
and Dresden. Primecity Investment (ISIN: CY0104972217) is a public limited
liability company incorporated under the laws of Cyprus (HE 151151), having
its registered office at 2, Faros Avenue, Spyros Thalassines Alkyonides -
Pervolia PC 7560 Larnaca, Cyprus. For more information please refer to the
Company's website www.prime-city.com.
Contact:
Christian Hupfer (CFO)
Primecity Asset management GmbH
Lietzenburger Straße 82 - 84,
10719 Berlin
christian.hupfer@prime-city.com
www.prime-city.com
Disclaimer:
THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION
OF AN OFFER TO BUY ANY SECURITIES.
THE SECURITIES MENTIONED IN THIS ANNOUNCEMENT HAVE NOT BEEN, AND WILL NOT
BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED
(THE "SECURITIES ACT"), AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES
ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES
ACT. THERE WILL BE NO PUBLIC OFFERING OF THE SECURITIES IN THE UNITED
STATES.
THIS ANNOUNCEMENT IS DIRECTED AT AND IS ONLY BEING DISTRIBUTED IN THE
UNITED KINGDOM TO (I) PERSONS WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS
RELATING TO INVESTMENTS FALLING WITHIN ARTICLE 19(5) OF THE FINANCIAL
SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (THE
"ORDER"), (II) HIGH NET WORTH ENTITIES, AND OTHER PERSONS TO WHOM IT MAY
OTHERWISE LAWFULLY BE COMMUNICATED FALLING WITHIN ARTICLE 49 OF THE ORDER,
AND (III) PERSONS TO WHOM IT MAY OTHERWISE LAWFULLY BE COMMUNICATED (ALL
SUCH PERSONS TOGETHER BEING REFERRED TO AS "RELEVANT PERSONS"). THIS
COMMUNICATION MUST NOT BE READ, ACTED ON OR RELIED ON BY PERSONS WHO ARE
NOT RELEVANT PERSONS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS
ANNOUNCEMENT 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"), THIS ANNOUNCEMENT
AND ANY OFFER IF MADE SUBSEQUENTLY IS DIRECTED ONLY AT PERSONS WHO ARE
"QUALIFIED INVESTORS" WITHIN THE MEANING OF ARTICLE 2(1)(E) OF DIRECTIVE
2003/71/EC, AS AMENDED (THE "PROSPECTUS DIRECTIVE") ("QUALIFIED
INVESTORS"). ANY PERSON IN THE EEA WHO ACQUIRES THE SECURITIES IN ANY OFFER
(AN "INVESTOR") OR TO WHOM ANY OFFER OF THE SECURITIES IS MADE WILL BE
DEEMED TO HAVE REPRESENTED AND AGREED THAT IT IS A QUALIFIED INVESTOR. ANY
INVESTOR WILL ALSO BE DEEMED TO HAVE REPRESENTED AND AGREED THAT ANY
SECURITIES ACQUIRED BY IT IN THE OFFER HAVE NOT BEEN ACQUIRED ON BEHALF OF
PERSONS IN THE EEA OTHER THAN QUALIFIED INVESTORS, NOR HAVE THE SECURITIES
BEEN ACQUIRED WITH A VIEW TO THEIR OFFER OR RESALE IN THE EEA TO PERSONS
WHERE THIS WOULD RESULT IN A REQUIREMENT FOR PUBLICATION BY THE COMPANY OR
ANY OF THE MANAGERS OF A PROSPECTUS PURSUANT TO ARTICLE 3 OF THE PROSPECTUS
DIRECTIVE.
THIS ANNOUNCEMENT MAY CONTAIN PROJECTIONS OR ESTIMATES RELATING TO PLANS
AND OBJECTIVES RELATING TO OUR FUTURE OPERATIONS, PRODUCTS, OR SERVICES,
FUTURE FINANCIAL RESULTS, OR ASSUMPTIONS UNDERLYING OR RELATING TO ANY SUCH
STATEMENTS, EACH OF WHICH CONSTITUTES A FORWARD-LOOKING STATEMENT SUBJECT
TO RISKS AND UNCERTAINTIES, MANY OF WHICH ARE BEYOND THE CONTROL OF
PRIMECITY INVESTMENT PLC. ACTUAL RESULTS COULD DIFFER MATERIALLY, DEPENDING
ON A NUMBER OF FACTORS.
End of Media Release
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Issuer: Primecity Investment Plc
Key word(s): Real estate
07.11.2014 Dissemination of a Press Release, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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295971 07.11.2014
(END) Dow Jones Newswires
November 07, 2014 13:13 ET (18:13 GMT)
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