DGAP-News: 2012 Shareholder Meeting of DIC Asset AG:
(firmenpresse) - DGAP-News: DIC Asset AG / Key word(s): AGM/EGM
2012 Shareholder Meeting of DIC Asset AG:
03.07.2012 / 13:45
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2012 Shareholder Meeting of DIC Asset AG:
- All agenda items approved by clear majority votes - dividend of 35 cent
per share set
- Letting volume fully on track at around 105,000 sqm
- Debt financing volume of approx. EUR 500 million arranged during H1
2012
- New acquisition over EUR 44 million for the 'DIC Office Balance I'
institutional fund
At today's shareholder meeting of DIC Asset AG (WKN 509840/ ISIN
DE0005098404) in Frankfurt am Main, which ended at 12:50 CET, the Chairman
of the Board of Directors, Ulrich Höller, also discussed the operative
development during the first semester 2012, quoting initial preliminary
figures.
The great letting performance seen early in the year persisted in the
second quarter. According to a first preliminary assessment, the letting
volume amounted to around 105,000 sqm during the first six months (Q1 2012:
51,900 sqm, H1 2011: 137,800 sqm). This interim result is fully according
to plan for the year as a whole, and confirms the sound operative
performance of the in-house real estate management of DIC Onsite. The
Company believes that it is well on its way to achieve its operative
targets, one of them being the reduction of the vacancy rate by one
percentage point to around 11.5 per cent by the end of the year.
Moreover, sound results were achieved in regard to upcoming debt financing
decisions. To date, eleven loans in a total volume of approximately EUR 500
million were arranged for refinancings of portfolios or single assets, for
acquisitions and for project financings. In the process, the Company
collaborated with more than a dozen German banks. All of the debt rollovers
planned or required in 2012 have already been implemented or else been
arranged in the form of binding premature approvals. As single biggest
transaction, this included the debt refinancing of a portfolio from the
co-investment segment in a volume of more than EUR 90 million. The new
lender is HSH Nordbank, a bank with whom debt financing over approx. EUR 40
million had been fixed for two single properties in late 2011. This latter
case, too, involved the repayment of a loan approaching maturity, and
simultaneously the optimisation of its financial structure. As before, the
debt financing for the existing properties was agreed long-term, subject to
non-recourse loan structures and on favourable terms so that the currently
low interest level is secured for the long run.
DIC Asset AG also announced the acquisition of another office property,
involving an investment volume of approximately EUR 44 million and for the
'DIC Office Balance I' institutional real estate fund. The investment asset
represents the new construction 'Loftwerk' in an excellent office location
in Eschborn near Frankfurt being constructed by HOCHTIEF
Projektentwicklung, With the completion still six months away (year-end
2012), about 75 per cent of the property is already let long-term to three
high-net-worth tenants. The property, which provides a lettable area of
14,700 sqm, is characterised by a high-end fit-out and complies with the
latest green building standards (DGNB certification). The transaction was
brokered by Trompetter Immobilien. With transfer of ownership the
acquisition brings the fund volumeof 'DIC Office Balance I' up to
approximately EUR 315 million.
With around 73 per cent of the share capital represented at the shareholder
meeting, the motions submitted by the senior management were passed with
clear majorities for every item on the agenda (for a summary of the voting
results, see the table below), among them the distribution of a dividend in
the amount of EUR 0.35 per share (2011: EUR 0.35). Based on the current
share price, the dividend yield equals around 5.2 per cent. Prof. Dr.
Gerhard Schmidt (Chairman), Klaus-Jürgen Sontowski (Deputy Chairman) and
Michael Bock were re-elected as Members of the Supervisory Board for
another term.
For more details on DIC Asset AG, please visit us on the internet at
www.dic-asset.de.
Summary of the voting figures:
Agenda item in per cent
approved
1. Presentation of annual accounts no vote
2. Use of profit available for distribution 99.99
3. Discharge of the Board of Directors 99.47
4.1 Discharge of the Chairman of the Supervisory Board 98.85
4.2 Discharge of the other Members of the Supervisory 99.46
Board
5. Election of auditors for 2011 99.94
6. Elections to the Supervisory Board
Prof. Dr. Gerhard Schmidt 93.30
Klaus-Jürgen Sontowski 98.69
Michael Bock 93,49
About DIC Asset AG:
Established in 2002, DIC Asset AG, with registered offices in
Frankfurt/Main, is a real estate company with a dedicated investment focus
on commercial real estate in Germany, pursuing a return-oriented investment
policy. Real estate assets under management amount to approx. EUR 3.3
billion, comprising around 270 properties, of which EUR 2.2 billion is
carried on DIC Asset AG's statement of the balance sheet. The Company's
investment strategy is geared to the continued development of a
high-quality, highly profitable and regionally diversified portfolio. The
real estate portfolio is structured in two segments: the Commercial
Portfolio (EUR 1.9 billion) comprises existing properties with long-term
rental contracts generating attractive rental yields. The Co-Investments
segment (EUR 0.3 billion) comprises fund investments, joint-venture
investments, and interests in development projects. We provide a direct
service to tenants through our own real estate management teams in six
branch offices located at the regional hubs within our portfolio. This
provides us with an edge in terms of market presence and expertise, and
builds the foundation for maintaining and increasing the value of our real
estate assets. DIC Asset AG has been included in the SDAX(R) segment of the
Frankfurt Stock Exchange since June 2006. The Company's shares are also
included in the EPRA index, which tracks the performance of the most
important European real estate companies.
End of Corporate News
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Language: English
Company: DIC Asset AG
Eschersheimer Landstr. 223
60320 Frankfurt
Germany
Phone: +49 69 9454858-0
Fax: +49 69 9454858-99
E-mail: info(at)dic-asset.de
Internet: www.dic-asset.de
ISIN: DE0005098404
WKN: 509840
Indices: S-DAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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176426 03.07.2012
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Datum: 03.07.2012 - 13:45 Uhr
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