DGAP-News: TAG Immobilien AG today announces the start of the rump placement of new shares and convertible bonds
(firmenpresse) - DGAP-News: TAG Immobilien AG / Key word(s): Miscellaneous
TAG Immobilien AG today announces the start of the rump placement of
new shares and convertible bonds
02.12.2010 / 07:28
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TAG Immobilien AG today announces the start of the rump placement by way of
accelerated bookbuilding of up to 11.6 million new shares and up to app.
EUR 70 million convertible bonds not taken up by shareholders of TAG
Immobilien AG in the subscription offers
The accelerated bookbuilding process for the
new shares and convertible bonds will start with immediate effect and is
expected to close 2 December 2010, subject to acceleration. The accelerated
bookbuilding process will target selected qualified investors only, the
final allocation will be subject to the exercise of the subscription rights
of holders thereof during the subscription period. With regard to the
offering of up to 11.6 million new shares, a number of large shareholders
of TAG Immobilien AG ('TAG' in the following) including TAG's management
have already informed TAG of their intention to exercise their subscription
rights to participate in the offering pro rata to their current holdings of
approximately 30% of the equity issue. The subscription price of the new
shares and the terms for the convertible bonds will be determined on the
basis of the bookbuilding process.
On 15 November 2010, with the approval of the Supervisory Board, the
Management Board of TAG resolved to finance the planned public offer to
the shareholders of Colonia Real Estate AG by issuing of up to EUR
11,607,249 new shares and convertible bonds in an aggregate amount of up to
approximately EUR 70 million. The new shares and convertible bonds will be
offered for subscription to shareholders during the subscription period
running from 22 November 2010 up to and including 6 December 2010.
The members of a consortium of banks consisting of Kempen&Co. NV,
Amsterdam as global co-coordinator, joint bookrunner and joint lead
manager, and Close Brothers Seydler Bank AG, Frankfurt as joint bookrunner
and joint lead manager have been commissioned to implement the process.
The subscription price for the new shares, at which holders of subscription
rights may subscribe for the new shares during the subscription period, the
placement price at which the new shares will be allocated to qualified
investors (subject to the exercise of subscription rights by holders
thereof), the extent to which qualified investors will be allocated new
shares and convertible bonds and also the expected final volume of the
capital increase, the expected final number of convertible bonds to be
issued and the expected final issuing conditions for the convertible bonds
will be fixed by TAG's Management and Supervisory Boards immediately after
the respective bookbuilding, i.e. probably on the evening of 2 December
2010, and communicated by way of an ad-hoc announcement and published the
following day in the Electronic Federal Gazette (elektronischer
Bundesanzeiger).
Disclaimer
This document is neither an offer to sell nor an invitation to buy or
subscribe for shares or other securities. It is not intended for
shareholders or investors in the United States, Canada, Australia and
Japan.
End of Corporate News
02.12.2010 Dissemination of a Corporate News, transmitted byDGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's 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
Deutschland
Phone: 040 380 32 300
Fax: 040 380 32 390
E-mail: ir(at)tag-ag.com
Internet: http://www.tag-ag.com
ISIN: DE0008303504
WKN: 830350
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Hamburg, Düsseldorf, Berlin, Hannover,
Stuttgart
End of News DGAP News-Service
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105249 02.12.2010
Datum: 02.12.2010 - 07:28 Uhr
Sprache: Deutsch
News-ID 32776
Anzahl Zeichen: 0
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Kategorie:
Business News
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