DGAP-News: TAG Immobilien AG improves capital structure and increases NAV by EUR 0.30 through a capital increase at the level of Colonia Real Estate AG
(firmenpresse) - DGAP-News: TAG Immobilien AG / Key word(s): Corporate Action
TAG Immobilien AG improves capital structure and increases NAV by EUR
0.30 through a capital increase at the level of Colonia Real Estate AG
25.08.2011 / 15:50
---------------------------------------------------------------------
Hamburg, 25 August 2011 - TAG Immobilien AG ('TAG' in the following), is
bringing a large part of the EUR 75 million general credit line agreement
with Colonia Real Estate AG ('Colonia' in the following) into Colonia
(debt-equity swap). This measure is taken with a view to Colonia's need to
refinance arising from the convertible bond 2006/2011 due for repayment on
7 December 2011, and serves to decrease the interest burden as well as
enable the drawing of further shareholder loans from the general credit
line approved by TAG.
The Colonia Real Estate AG Management Board today decided, with the
approval of the Su-pervisory Board, to use the approved capital to increase
Colonia's share capital from cur-rently EUR 32,994,633 by 11,384,010
shares, through a capital increase. This capital meas-ure leads to an
equity increase at TAG Group level by up to approx. EUR 20 million, and a
EUR 0.30 increase in the Net Asset Value (NAV) per TAG share. At the same
time, this in-creases TAG's holdings in Colonia to approx. 70 percent.
'This step is mutually beneficial for both companies, as it allows us to
optimise the capital structure at TAG level while also increasing the NAV.
At the same time Colonia improves its balance sheet structure and opens up
further options for refinancing,' says Rolf Elgeti, CEO of TAG Immobilien
AG.
End of Corporate News
---------------------------------------------------------------------
25.08.2011 Dissemination of a Corporate News, transmitted by DGAP - 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
---------------------------------------------------------------------
Language: English
Company: TAG Immobilien AG
Steckelhörn 5
20457 Hamburg
Germany
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 Berlin, Düsseldorf, Hamburg, Hannover,
Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
136977 25.08.2011
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 25.08.2011 - 15:50 Uhr
Sprache: Deutsch
News-ID 59346
Anzahl Zeichen: 4791
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 234 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: TAG Immobilien AG improves capital structure and increases NAV by EUR 0.30 through a capital increase at the level of Colonia Real Estate AG"
steht unter der journalistisch-redaktionellen Verantwortung von
TAG Immobilien AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
