EQS-News: IMMOFINANZ welcomes announced increase – CPI offer price still too low

EQS-News: IMMOFINANZ AG / Key word(s): Offer/Real Estate
IMMOFINANZ welcomes announced increase – CPI offer price still too low

27.01.2022 / 17:58
The issuer is solely responsible for the content of this announcement.

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IMMOFINANZ welcomes announced increase – CPI offer price still too low

The Executive Board of IMMOFINANZ welcomes the announcement by CPI
Property Group S.A. (CPIPG) to increase the offer price for IMMOFINANZ
shares from the current level of EUR 21.2 (cum dividend) to EUR 22.7 (cum
dividend). This price is, however, still clearly below the current value
of the company and does not reflect IMMOFINANZ’s substantial growth
potential. Moreover, the higher price fails to include an appropriate
control premium for CPIPG’s announced intention to attain control over
IMMOFINANZ. The Executive Board also refers to its statement from 26
January 2022 on the anticipatory mandatory offer by CPIPG and again
recommends that investors not accept the announced improved offer by CPIPG
for IMMOFINANZ’s shares and convertible bonds.

CPIPG announced on 26 January 2022 that it had signed a conditional
purchase contract to acquire 9,413,253 IMMOFINANZ shares, representing
approximately 6.81% of the current share capital of IMMOFINANZ. The
purchase price per share equals EUR 22.70 cum dividend. As a consequence
of this conditional package purchase of IMMOFINANZ shares, CPIPG announced
that it will increase its offer price for IMMOFINANZ’s shares and
convertible bonds in accordance with the agreed purchase price and in
agreement with the Austrian Takeover Act.

On this basis, CPIPG holds (directly and indirectly) a total of 26,621,030
IMMOFINANZ shares as of 26 January 2022, which represents a holding of
approximately 19.25%. An additional 22,442,408 IMMOFINANZ shares, which
represent an investment of approximately 16,23%, are conditionally
contracted. That represents a total investment of 49,063,438 IMMOFINANZ
shares, i.e. an investment of approximately 35.49% in the share capital of
IMMOFINANZ.

On IMMOFINANZ
IMMOFINANZ is a commercial real estate group whose activities are focused
on the office and retail segments of eight core markets in Europe:
Austria, Germany, Poland, Czech Republic, Slovakia, Hungary, Romania and
the Adriatic region. The core business covers the management and
development of properties, whereby the STOP SHOP (retail), VIVO! (retail)
and myhive (office) brands represent strong focal points that stand for
quality and service. The real estate portfolio has a value of approx. EUR
5.0 billion and covers roughly 210 properties. IMMOFINANZ is listed on the
stock exchanges in Vienna (leading ATX index) and Warsaw. Further
information under: [1]https://immofinanz.com

IMPORTANT INFORMATION
This announcement is issued by IMMOFINANZ AG (IMMOFINANZ) in connection
with the anticipatory mandatory offer published by CPI Property Group S.A.
for shares and convertible bonds of IMMOFINANZ (takeover offer) on 12
January 2022. It is for information purposes only and neither an offer to
purchase nor a solicitation to sell securities of IMMOFINANZ. The
conditions and further provisions relating to the Takeover Offer are
disclosed in the offer document published by CPI Property Group S.A. The
offer document and the statements of the Management Board and the
Supervisory Board are forming the relevant basis and investors and it is
strongly recommended to holders of IMMOFINANZ shares and other equity
securities to review these documents.

To the extent this announcement contains forward-looking statements
concerning IMMOFINANZ, such statements do not represent facts and are
characterized by the words such as „will“, „expect“, „believe“,
„estimate“, „intend“, „aim“, „assume“ or similar expressions. Such
statements express intentions, opinions or current expectations and
assumptions of IMMOFINANZ. These forward-looking statements are based on
current plans, estimates and forecasts, but do not claim to be correct in
the future. Forward-looking statements are subject to risks and
uncertainties that are difficult to predict and usually cannot be
influenced by IMMOFINANZ. It should be kept in mind that the actual events
or consequences may differ materially from those contained in or expressed
by such forward-looking statements.
.

For additional information contact:
Bettina Schragl
Head of Corporate Communications and Investor Relations
IMMOFINANZ AG
T +43 (0)1 88 090 2290
M +43 (0)699 1685 7290
[2]communications@immofinanz.com
investor@immofinanz.com

 

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27.01.2022 This Corporate News was distributed by EQS Group AG.
www.eqs.com

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Language: English
Company: IMMOFINANZ AG
Wienerbergstraße 9
1100 Vienna
Austria
Phone: +43 (0) 1 88090 – 2290
Fax: +43 (0) 1 88090 – 8290
E-mail: investor@immofinanz.com
Internet: http://www.immofinanz.com
ISIN: AT0000A21KS2
WKN: A2JN9W
Listed: Regulated Unofficial Market in Berlin, Frankfurt, Munich,
Stuttgart; Warschau, Vienna Stock Exchange (Official Market)
EQS News ID: 1273857

 
End of News EQS News Service

1273857  27.01.2022 

References

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2. communications@immofinanz.com

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