ADO PROPERTIES S.A. (FRA:LU125015) ADO Properties S.A.:

Directive transparence : information réglementée

18/12/2019 14:05

DGAP-News: ADO Properties S.A. / Key word(s): Miscellaneous
ADO Properties S.A.:
18.12.2019 / 14:05
The issuer is solely responsible for the content of this announcement.

ADO Properties notes statements from rating agencies

18 December 2019 - ADO Properties notes the press releases from Moody's and S&P, including Moody's recognition that the business and financial profiles being aligned with investment grade, and we intend to further communicate with the agencies to address their outstanding concerns in the coming weeks.

We thank both S&P and Moody's for their prompt response to our announcement.

ADO Properties continues to reiterate the benefits of the combination, which will create a German EUR 8.6 billion residential company, with likely MDAX inclusion, which will benefit from significant operational and financial synergies and a larger, more diversified business profile. It is management's intention to maintain financial discipline by adherence to the following principles:

Net loan to value less than 50%
Interest coverage ratio of at least 2.5x
Predominantly unsecured capital structure
Dividend policy of up to 50% of FFO I, with a proposed EUR 0.75 dividend per share over 2019
for all existing and new ADO shareholders

For ADO Properties, this is a highly synergistic business combination, which enables the company to diversify outside Berlin into core growth cities across Germany, whilst becoming value accretive from day one.

The combined entity will adopt best in class corporate governance with the creation of a Tier 1 Board comprising ten members, of which five will be fully independent, including the Chairman who will retain the casting vote.

The new, larger entity will also benefit from enhanced liquidity and post the combination no single shareholder will control the company and there will be a free float of at least 80%.




+44 (0) 207 251 3801

Edward Simpkins

Jenny Davey

Gordon Simpson


Peter Dietze-Felberg, Senior Consultant

Direct Line: +49 (0) 30 28 44 987 62

Switch Board: +49 (0) 30 28 44 987 3

Mobile: +49 (0) 151 27616562

Email: dietze@rueckerconsult.de



18.12.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language: English
Company: ADO Properties S.A.
1B Heienhaff
1736 Senningerberg
Phone: +352 278 456 710
Fax: +352 203 015 00
E-mail: ir@ado.properties
Internet: www.ado.properties
ISIN: LU1250154413
WKN: A14U78
Indices: SDAX, FTSE EPRA/NAREIT Global Index, FTSE EPRA/NAREIT Developed Europe Index, FTSE EPRA/NAREIT Germany Index
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; London, Luxembourg Stock Exchange, SIX
EQS News ID: 939123

End of News DGAP News Service

939123  18.12.2019