PEPR to launch a fully underwritten offer ?61 million of preferred
equity at net asset value
(Thomson Reuters ONE) - This press release is being issued pursuant to Rule 135c under the USSecurities Act of 1933, as amended, and is not an offer of securitiesfor sale, or the solicitation of an offer to buy securities, in theUnited States or elsewhere. The securities mentioned in this pressrelease have not been and will not be registered pursuant to the USSecurities Act of 1933, as amended. They cannot be offered or sold inthe United States absent registration or an exemption fromregistration. No public offer of the securities has been or will bemade in the United States or elsewhere.This press release may contain certain forward-looking statements.These forward-looking statements involve certain risks anduncertainties that could cause actual results to differ materiallyfrom those indicated in such forward-looking statements. The companyassumes no obligation to update any forward-looking statementcontained in this press releaseNews releaseProLogis European Properties to launch a fully underwritten offer ?61 million of preferred equity at net asset valueLuxembourg - 16 November 2009 - ProLogis European Properties(Euronext: PEPR), one of Europe's largest owners of moderndistribution facilities, announced today that it intends to raise ?61million of new equity in the form of fully underwritten perpetualconvertible preferred units ("Preferred Units"). PEPR intends to usenet proceeds from the offering to reduce outstanding debt and forgeneral corporate purposes.The Preferred Units will be offered at ?5.93 per unit, a price whichis equal to the revised net asset value per ordinary unit as at 30September 2009. Existing ordinary unitholders will be allocated onepreferential subscription right ("PSR") for each ordinary unit heldand will be able to subscribe for two Preferred Units in exchange for37 PSRs during the 30-day subscription period and subsequent paymentof the Preferred Unit subscription price. The Preferred Units willinitially pay an annual dividend of 10.5%, payable quarterly, whichmay be deferred for prudent amortisation of debt.The Preferred Units may be converted into PEPR ordinary units at thediscretion of holders at any time and may be redeemed at the issuer'sdiscretion after seven years or within 24 months if there is a changeof legal form of PEPR and if certain conditions are met. Automaticconversion occurs after seven years if certain conditions are met. -Ends-.This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 16.11.2009 - 09:00 Uhr
Sprache: Deutsch
News-ID 8433
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