17.03.2016
TAG Immobilien AG DE0008303504
DGAP-Adhoc: TAG Immobilien AG successfully placed 5,000,000 treasury shares
TAG Immobilien AG / Key word(s): Miscellaneous
17.03.2016 07:30
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION DIRECTLY OR INDIRECTLY, IN
WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR
SOUTH AFRICA OR IN ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.
AD HOC ANNOUNCEMENT
TAG Immobilien AG successfully placed 5,000,000 treasury shares - Gross
proceeds of EUR 58.3 million
- Private placement of 5,000,000 treasury shares in an ABB transaction
with a discount of 3.6% to the closing price of EUR 12.09 per 16 March
2016
- Capital recycling strategy successfully implemented on the liabilities
side with positive financial impact
Hamburg (17 March 2016) - On 16 March 2016 TAG Immobilien AG ('TAG' or the
'Company') placed 5,000,000 treasury shares ('Placement Shares')
(representing approximately 3.7% of the Company's ordinary share capital)
with institutional investors in an accelerated bookbuilding process. The
price of the Placement Shares was set at EUR 11.65 per share which
represents a 3.6% discount to the last closing price on the Frankfurt Stock
Exchange. This is equivalent to a 6.1% premium to the share's 3-month
volume weighted average price (VWAP) and a 9.5% premium to the EPRA NAV per
share of EUR 10.64 per share as of 31 December 2015.
Upon settlement of the transaction, which is expected to take place on 21
March 2016, the placement results in gross proceeds to the Company in an
amount of approximately EUR 58.3 million which are intended to be used for
general and corporate purposes as well as for potential property
acquisitions in the context of its overall strategy of continuously
optimizing its capital structure. The placed shares rank pari passu in all
respects with the existing shares of the Company (including as to dividend
rights).
Pursuant to the share buyback in September / October 2014 at EUR 9.30 per
share, this transaction demonstrates TAG's ability to successfully execute
its capital recycling strategy also on the liabilities side.
Berenberg and Kempen & Co acted as Joint Bookrunners. VICTORIAPARTNERS
acted as independent transaction advisor to TAG.
Press enquiries:
TAG Immobilien AG
Head of Investor & Public Relations
Dominique Mann
Phone +49 (0) 40 380 32 300
Fax +49 (0) 40 380 32 388
[email protected]
Disclaimer
THIS PUBLICATION IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED,
AND SHOULD NOT BE CONSTRUED, AS AN OFFER TO SELL OR A SOLICITATION OF AN
OFFER TO BUY OR SUBSCRIBE FOR ANY SHARES OR OTHER SECURITIES OF TAG
IMMOBILIEN AG (THE "COMPANY"), HAMBURG IN ANY JURISDICTION, INCLUDING THE
UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA. NEITHER THIS
PUBLICATION NOR ANYTHING CONTAINED HEREIN SHALL FORM THE BASIS OF, OR BE
RELIED UPON IN CONNECTION WITH, ANY OFFER OR COMMITMENT WHATSOEVER IN ANY
JURISDICTION. NO PUBLIC OFFERING OF SECURITIES OF THE COMPANY IS BEING, OR
WILL BE, MADE IN ANY JURISDICTION. THE SECURITIES OF THE COMPANY DESCRIBED
HEREIN HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES
ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR UNDER THE SECURITIES
LAWS OF ANY STATE OR OTHER JURISDICTION OF THE UNITED STATES, AND MAY NOT
BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES ABSENT
REGISTRATION UNDER THE SECURITIES ACT OR AN AVAILABLE EXEMPTION FROM, OR IN
A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT AND IN COMPLIANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY
STATE OR OTHER JURISDICTION OF THE UNITED STATES. THERE WILL BE NO PUBLIC
OFFERING OF SECURITIES IN THE UNITED STATES.
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) (HIGH NET WORTH COMPANIES,
UNINCORPORATED ASSOCIATIONS, ETC.) OF THE ORDER (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.
THE JOINT BOOKRUNNERS ARE ACTING EXCLUSIVELY FOR THE COMPANY AND NO-ONE
ELSE IN CONNECTION WITH THE PLACING. THEY WILL NOT REGARD ANY OTHER PERSON
AS THEIR RESPECTIVE CLIENTS AND WILL NOT BE RESPONSIBLE TO ANYONE OTHER
THAN THE COMPANY FOR PROVIDING THE PROTECTIONS AFFORDED TO THEIR RESPECTIVE
CLIENTS, NOR FOR PROVIDING ADVICE IN RELATION TO THE CONTENTS OF THIS
PUBLICATION OR ANY TRANSACTION, ARRANGEMENT OR OTHER MATTER REFERRED TO
HEREIN. NONE OF THE JOINT BOOKRUNNERS OR ANY OF THEIR RESPECTIVE DIRECTORS,
EMPLOYEES, ADVISERS OR AGENTS ACCEPTS ANY RESPONSIBILITY OR LIABILITY
WHATSOEVER FOR (INCLUDING ANY LOSS HOWSOEVER ARISING FROM ANY USE OF THE
PUBLICATION OR ITS CONTENTS OR OTHERWISE ARISING IN CONNECTION THEREWITH)
OR MAKES ANY REPRESENTATION OR WARRANTY, EXPRESSED OR IMPLIED, AS TO THE
TRUTH, ACCURACY OR COMPLETENESS OF THE INFORMATION IN THIS PUBLICATION (OR
WHETHER ANY INFORMATION HAS BEEN OMITTED FROM THE PUBLICATION), WHETHER
WRITTEN, ORAL OR IN A VISUAL OR ELECTRONIC FORM, AND HOWSOEVER TRANSMITTED
OR MADE AVAILABLE.
17.03.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: TAG Immobilien AG
Steckelhörn 5
20457 Hamburg
Germany
Phone: 040 380 32 0
Fax: 040 380 32 388
E-mail: [email protected]
Internet: http://www.tag-ag.com
ISIN: DE0008303504, XS0954227210, DE000A12T101
WKN: 830350, A1TNFU, A12T10
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Munich;
Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg,
Hanover, Stuttgart; Terminbörse EUREX
End of Announcement DGAP News-Service
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