IMMOFINANZ : announces acceptance quota of 88.6% with respect of the outstanding volume of the convertible bonds due 2018 in the course of its incentivised conversion invitation

IMMOFINANZ AG announces acceptance quota of 88.6% with respect of the outstanding volume of the convertible bonds due 2018 in the course of its incentivised conversion invitation

On the Expiry Date 27 September 2017, 7 p.m. CET, of the incentivized conversion invitation of the company dated 20 September 2017, holders representing a volume of 88.6% of the currently outstanding at EUR 287.3 million 4.25% senior unsecured convertible bonds due 2018, ISIN XS0592528870, (initial volume: EUR 515.1 million) have submitted offers to the company. All of these offers have been accepted by the company.

The nominal value of convertible bonds outstanding thus will be reduced to approximately EUR 32.8 million. The 61.8 million convertible bonds submitted for conversion raise claims for the delivery of 76.6 million IMMOFINANZ shares and 4.0 million BUWOG shares. IMMOFINANZ AG will use the currently held approx. 13.1 million treasury shares for delivery under conversion declarations made and accordingly will create further 63.5 million shares from conditional capital, which corresponds to a dilution of existing shareholders by approx. 6.0%.

'This was an important step for the further optimization of our capital and financing structure. Our net loan to value, excluding Russia, will decrease significantly to below 45% following the incentivized conversion' comments Stefan Schönauer, CFO of IMMOFINANZ, the transaction.

Settlement of the conversion is expected to take place on or around 2 October 2017.

The amounts referred to above in relation to the outstanding volume of the convertible bonds due 2018, ISIN XS0592528870, do not include convertible bonds in the nominal amount of EUR 6.5 million held by IMMOFINANZ AG.

Disclaimer
This announcement does not contain nor constitutes an offer of, or the solicitation of an offer to buy or subscribe for, securities to any person in the United States, Australia, Canada, Japan or in any jurisdiction to whom or in which such offer or solicitation is unlawful.

This release is not an offer of securities for sale in the United States of America. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Any public offering of securities to be made in the United States of America would be made by means of a prospectus that could be obtained from the Company and would contain detailed information about the Company and management, as well as financial statements. There will be no public offer of securities in the United States of America.