DIC Asset AG announces capital increase
DIC Asset AG / Capital Increase
Ad hoc announcement according to § 15 WpHG transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement.
This ad-hoc-announcement must not be distributed in the United States of America, Canada, Japan and Australia.
DIC Asset AG (German Securities ID 509840 / ISIN DE0005098404) today announced that it will increase its issued share capital by € 8.16 million, from € 20.34 million to € 28.5 million, by issuing new shares. The 8,160,000 new shares will be offered to shareholders for subscription at a price of € 23.50, subject to a subscription ratio of two new shares for each five shares held (excluding a fractional amount of 24,000 shares). The subscription period for the new shares will commence on 29 November 2006, and is expected to end on 12 December 2006. The new shares carry full dividend rights from 1 January 2006. With the rights issue, the company is exercising the Authorised Capital resolved by the Annual General Meeting on 5 May 2006.
Demonstrating their support for DIC Asset AG's sustained growth, the Company's major shareholders – Deutsche Immobilien Chancen AG & Co. KGaA, Forum S.à.r.l. and Morgan Stanley Real Estate Funds (MSREF) – indicated that they will each exercise around 57% of their subscription rights. The approx. 2.1 million shares not subscribed for by the major shareholders, together with any other new shares not subscribed for, plus the fractional amount will be offered for sale in an international private placement after the end of the subscription period. Accordingly, DIC Asset AG's free float is expected to increase from currently around 39% to approximately 47%, further enhancing the liquidity of the share.
DIC Asset AG will apply the net issue proceeds of approx. € 185 million predominantly to finance further acquisitions of real estate assets. Initial transactions are expected to be concluded before the end of the year: DIC Asset AG is currently in co-investment negotiations – in some cases on an exclusive basis – for various transactions, with an aggregate volume of up to € 350 million.
Deutsche Bank and Morgan Stanley have been mandated as joint lead managers.
This publication constitutes neither an offer to sell nor a solicitation to buy securities. The offer is being made solely by means of, and on the basis of, the published securities prospectus dated November 27, 2006 (including any amendments thereto, if any). The securities prospectus is available free of charge from Deutsche Bank AG, Große Gallusstraße 10-14, 60311 Frankfurt am Main or Morgan Stanley Bank AG, Junghofstraße 13-15, 60311 Frankfurt am Main or on the DIC Asset AG website (www.dic-asset.de). This announcement does not constitute an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. DIC Asset AG does not intend to register any portion of the offering in the United States or conduct a public offering of securities in the United States. This communication is directed only at persons (I) who are outside the United Kingdom or (II) who have professional experience in matters relating to investments falling within article 19(5) ('investment professionals') of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the 'Order') or (III) who fall within article 49(2)(a) to (d) ('high net worth companies, unincorporated associations etc.') of the Order (all such persons together being referred to as 'Relevant Persons'). Any person who is not a Relevant Person must not act or rely on this communication or any of its contents. Any investment or investment activity to which this communication relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.
DIC Asset AG
Grünhof · Eschersheimer Landstraße 223
60320 Frankfurt am Main
Tel. (0 69) 9 45 48 58-39
Fax (0 69) 9 45 48 58-99
Issuer: DIC Asset AG
Eschersheimer Landstr. 223
60320 Frankfurt Deutschland
Phone: 069 / 274033-0
Fax: 069 / 274033-69
Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, München, Stuttgart, Düsseldorf
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