BEFIMMO-SICAFI : Befimmo SCA - Buybak programme of own shares up to a maximum of €4.5 million
05/21/2012| 06:16am US/Eastern
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PRESS RELEASE REGULATED INFORMATION
EMBARGO - 21 May 2012 - 8 a.m.
Société en Commandite par Actions
B U Y B A C K P R O G R A M M E O F O W N S H A R E S U
P T O A M A X I M U M O F € 4. 5 M I L L I O
N
Today Befimmo announced the decision to launch a share
buyback programme, as authorised by the
Extraordinary General Meeting of 22 June 2011, for up to a
maximum of €4.5 million.
In accordance with the conditions specified by this General
Meeting, the purchase price may not be less than 85% nor more
than 115% of the closing price the day before the date of the
transaction.
The programme will begin on 21 May 2012 and end on 20 August
2012.
It comes in response to the current troubled economic climate
in which there is a significant decline in share prices. It
reflects Befimmo's confidence in its strategy and the fact
that the share price is particularly low in relation to the
net asset value.
Befimmo has mandated a financial institution to run this
programme.
* * *
Founded 15 years ago, Befimmo is a Sicafi specialising in
investing in office buildings located mainly in city centres,
notably in Brussels (> 70%). Its portfolio currently
consists of around one hundred office buildings, with a total
space of more than 850,000 m², a large part of which
(>65%) is let long-term to public institutions. The fair
value of the portfolio as at 31 March 2012 was assessed at
€1,964.9 million.
Listed on Euronext Brussels since its creation and a member
of the BEL 20 index since March 2009, Befimmo pursues an
informed strategy of optimising its results over the long
term.
Befimmo is keen to take up the challenges of sustainable
development in its strategic thinking, and models its
day-to-day activities on the principles of corporate social
responsibility.
Further information:
Laurent Carlier - Chief Financial Officer
Befimmo SCA - Chaussée de
Wavre 1945 - 1160 Brussels Tel.: 02/679.38.60 - Fax:
02/679.38.66 www.befimmo.be - Email: l.carlier@befimmo.be
C R E A T I N G V A L U E I N R E A L E S T A T E
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